Difference between revisions of "How do I deal with finance subsidies?"
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The following article outlines how to deal with finance subsidies using the {{Menu|Receipts}} option of the {{SL}}. | The following article outlines how to deal with finance subsidies using the {{Menu|Receipts}} option of the {{SL}}. | ||
| − | You will need to post the subsidy to a [[How do I create a nominal code?|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. | + | You will need to post the subsidy to a [[How do I create a nominal code?|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 == | == More Information == | ||
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{{Information|text=You should then be left with a balance against the invoice which agrees to the subsidy deducted by the finance company.}} | {{Information|text=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 [[Posting payments received|this]] article until you reach the {{Tab|Payment}} tab. | * Repeat the steps in [[Posting payments received|this]] article until you reach the {{Tab|Payment}} tab. | ||
* Enter the {{DataPrompt|date}} the subsidy was deducted. | * Enter the {{DataPrompt|date}} the subsidy was deducted. | ||
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* [[How do I create a nominal code?]] | * [[How do I create a nominal code?]] | ||
| − | {{KB_Tags|payments, finance, subsidy, subsidies, finance company, unit invoice, receipts, post payment, money in | + | {{KB_Tags|payments, finance, subsidy, subsidies, finance company, unit invoice, receipts, post payment, money in, income}} |
| − | {{KB_SL}}{{KB_VS}}{{ZN_Accounts}} | + | {{How}}{{KB_SL}}{{KB_VS}}{{ZN_Accounts}} |
Revision as of 05:30, 4 October 2019
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This article or section is under review. Be aware: Content may change as the document is reviewed. |
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
- How do I reverse a payment on the sales ledger?
- How do I change the method of payment after it has been posted?
- How do I adjust the date on a transaction?
- How do I create a nominal code?
