How do I deal with finance subsidies?
From Catalyst
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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?
