Difference between revisions of "Deferred profit for unit sales"
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* Select {{DataPrompt|Customer prepayments centre}} and click {{Button|Edit}}. | * Select {{DataPrompt|Customer prepayments centre}} and click {{Button|Edit}}. | ||
** Enter a suitable Balance Sheet centre in which the nett sale will be held until the unit is booked into stock. | ** Enter a suitable Balance Sheet centre in which the nett sale will be held until the unit is booked into stock. | ||
| − | ** You may press | + | ** You may press {{KeyPress|C-F1}} to search for a centre. |
| + | {{Note|text=If you need to create a new centre, press {{Button|Add}} from the {{DataValue|Nominal Centre Search}} screen. Follow the instructions in [[How do I create a nominal code?]] The suggested settings are Balance Sheet - Current Liability but please check with your accountant.}} | ||
| + | * Click {{Button|Deone}} and {{Button|Accept}}. | ||
Revision as of 15:40, 21 May 2021
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This article or section applies to a Platinum feature currently being developed. Be aware: Content may change. |
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This article or section is under development. Be aware: Content will change as the document progresses. |
Summary
When selling units in advance of them actually being received into your stock you may wish to defer the sale. This will enable you to incur the costs of the item in the same financial period as the sale is included on your Profit & Loss report.
This is a method that suits items which are invoiced well in advance e.g. Combine Harvesters and other large farm machinery.
More Information
Go to " Reports & Settings Maintenance Options System Administrator Module Settings"
- Select " Unit Sales Module Settings"
- Scroll down the screen to "Deferred profit"
- Select "Record deferred profit" and click [Edit].
- Select 'Yes' and click [Done].
- Select "Customer prepayments centre" and click [Edit].
- Enter a suitable Balance Sheet centre in which the nett sale will be held until the unit is booked into stock.
- You may press <Ctrl+F1> to search for a centre.
 | If you need to create a new centre, press [Add] from the 'Nominal Centre Search' screen. Follow the instructions in How do I create a nominal code? The suggested settings are Balance Sheet - Current Liability but please check with your accountant. |
- Click [Deone] and [Accept].
