How do I deal with finance subsidies?

From Catalyst
Revision as of 14:40, 4 October 2019 by Charles Allison (talk | contribs)
Jump to: navigation, search

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 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 to the business.

See also


Feedback
Thank you for using our Knowledge Base, we value your feedback. Did you find this article useful? 'Yes' or 'No'
Keywords AND Misspellings
payments, finance, subsidy, subsidies, finance company, unit invoice, receipts, post payment, money in, income