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Location Accounts - General

This tab is used to set up accounts applicable to the whole location such as tax and deposits. When this information is passed to the accounts package, the information has to be stored in accounts. For example, the account for tax debits might be '1-1000' while tax credits might be '1-1100'. If you do not set up this information correctly then the extracted accounts information will not be loaded correctly.

The section General Accounts shows a list of the accounts for each location.

Figure: Example Location Accounts Screen

The account details include:

Tax Debit A/c

The Account in which all tax debits will be recorded.

Tax Credit A/c

The Account in which all tax credits will be recorded.

Order Deposit A/c

The Account in which deposits for laybys and orders will be recorded.

Invoice Variance A/c

The Account in which any invoice variances will be recorded. An invoice variance occurs when you enter the line details and there value is different to the expected total value of the invoice.

Receipts A/c

The Account in which stock is recorded when it is received.

Contra Warehouse Charges A/c

The account which will record charges made to the store by the warehouse when doing a transfer. It is a balancing account to the Warehouse Charges A/c recorded on the Categories tab.

Contra Stock A/c

Its possible that an item is sold at one location but the stock is decremented at a different location. The system will generate a pair of transactions - one for COGS and one for stock. Assuming a $10 COGS, the following  transactions would be generated:

COGS Dr $10

Contra Stock Cr $10

Contra Stock Dr $10

Stock Cr $10

Within the one location, this ends up achieving the same result, that is a debit to COGS and a credit to stock. However, if the item is sold in one location but the stock is adjusted in another location, we would get the COGS/Contra Stock for the selling location and the Contra Stock/Stock for the stock location. This ensures the accounts stay in balance for each location.

Intra-Location Trans A/c

 

This account is used for transactions which may be adjusted at two different locations, for example a drink is sold at the bar and then the transaction is put on hold. The transaction is recalled at the restaurant and further items added and finally it is tendered. Another similar case is where a customer order is placed at one location but finalised at another location.

In these cases, the Intra Location A/c is used to adjust the transactions.

Example: We sold a $5 drink at the bar. We recalled the transaction at the restaurant and added a $15 meal. We paid $20 cash at the restaurant. This would generate the following transactions:

Bar

Intra Location Dr $5

Sales Cr $5

Restaurant

Cash Dr $20

Intra Location Cr $5

Sales Cr $15

Notice how the Intra Locations across the two locations balance each other to zero.

Banking Variance A/c

Used to map a GL account code to the Banking Variance.

Service Charge A/c

 

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