How do I deal with finance subsidies?

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?

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Keywords AND Misspellings

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