How do I create an internal account?
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More Information
Go to "Accounts" -> "Sales Ledger" -> "Customer File Maintenance" -> "Add or Edit Customers", and for "Search on:", type the word 'Internal' and press <F6> to create a new account.
Details
- Fill out all the relevant contact details for the internal account.
Invoicing
- Click the <Invoicing> tab.
- "Centre Modifier"
- Type 'I' and then press <Enter>and then press <Enter> on the warning message that is displayed.
- "V.A.T. rate:"
- Set to the Exempt Rate set for your system.
- "Payment Centre:"
- Get the cursor in the Ledger Centre field and press <Ctrl+F1> to bring up a search box, and then type 'internal' and press <Enter>. Select the relevant centre for the internal account in question. If one doesn't exist, contact your Accounts Department and ask that they create one for you.
- "Cash Sale:"
- Set this 'Yes', Invoices are paid off immediately to the internal account specified in the above step
- "Internal:"
- Set this to 'Yes' (Transactions to internal accounts are considered "Outside the Scope" for V.A.T. purposes and will not appear on your VAT100 report).
Groups/Analysis
- Click <Groups/Analysis> tab.
- "Group:"
- Type 'INT'. Once again, this will aid you for reporting purposes.
Stock
You may wish to charge all Stock sold to this Internal Account at cost, if so:
- Click the <Stock> tab.
- Press <F5> - This brings up an Account Pricing Matrix
- Cursor down to the Pricing Method and type 'C' for Cost and press <Enter>
- Type 'F' to select Fifo and then press <F2> and press <Accept>
- Press <Esc> to exit the Pricing Matrix screen.
See also
