Difference between revisions of "How do I deal with finance subsidies?"

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== Summary ==
 
== Summary ==

Revision as of 10:04, 3 October 2019

Summary

The following article outlines how to deal with finance subsidies using the " Receipts" option of the Sales Ledger.

You will need to post the subsidy to a nominal centre which is classed as a Profit & Loss - Cost of Sale or Overhead centre. Please check with your accountant if you are unsure how to classify the code.

More Information

Go to " Sales Ledger Receipts".

  • Process the finance payment you have received following this article.
You should then be left with a balance against the invoice which agrees to the subsidy deducted by the finance company.
  • Repeat the steps in this article until you reach the [Payment] tab.
  • Enter the "date" the subsidy was deducted.
  • Enter the unit stock number the subsidy relates to in the "Comment" field.
  • Enter your Finance subsidy nominal centre as the "Payment centre".
  • Click [Done] and [Accept] to post the payment.
This clears the balance on the invoice and creates a cost or overhead to the business.

See also


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Keywords AND Misspellings
payments, finance, subsidy, subsidies, finance company, unit invoice, receipts, post payment, money in, subsidy, finance, income