Archived
05-03-2008, 08:01 PM
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(11/17/2000 12:31:19 PM) B.H. wrote:
In your website,on the articles page, you say that you can transfer income and expenses from one profit center to another.I would like to do that but can't find out how to do it in the cookbook or the manageplus user's guide.I was wondering what page that it's on.
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It's simple, but not easy.
Let's say you've accumulated expense in a general Feed Expense account. Then at month's end (or year's end, or whenever) you want to allocate Feed Expense among two or more classes--let's say a Beef Cows class and Feeder Calves class.
Use a QuickBooks report to find out the Feed Expense account amount you want to transfer to those classes. Then enter three lines in a General Journal entry to do the following:
1. Credit Feed Expense for the amount you're allocating.
2. Debit Feed Expense, with Class=Beef Cows, for the amount you're allocating to them.
3. Debit Feed Expense, with Class=Feeder Calves, for the amount you're allocating to them.
The total amount for lines 2 and 3 must of course equal the amount for line 1.
If Feed Expense was originally associated with a particular class, and you're transferring it to different class(es), line 1 would include the original class assignment (so the amount will be removed from that class and associated with the classes in lines 2 and 3).
Mark Wilsdorf
Flagship Technologies, Inc.
http://www.goflagship.com
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(11/20/2000) B.H. wrote:
I finally figured out how to do the transfers,but they don't show up in manage plus reports when I do them in the general journal.Just wondering what I'm doing wrong.
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Both the debit and credit portion of the transfers must involve income or expense accounts in order to appear in ManagePLUS reports.
(11/17/2000 12:31:19 PM) B.H. wrote:
In your website,on the articles page, you say that you can transfer income and expenses from one profit center to another.I would like to do that but can't find out how to do it in the cookbook or the manageplus user's guide.I was wondering what page that it's on.
====================================
It's simple, but not easy.
Let's say you've accumulated expense in a general Feed Expense account. Then at month's end (or year's end, or whenever) you want to allocate Feed Expense among two or more classes--let's say a Beef Cows class and Feeder Calves class.
Use a QuickBooks report to find out the Feed Expense account amount you want to transfer to those classes. Then enter three lines in a General Journal entry to do the following:
1. Credit Feed Expense for the amount you're allocating.
2. Debit Feed Expense, with Class=Beef Cows, for the amount you're allocating to them.
3. Debit Feed Expense, with Class=Feeder Calves, for the amount you're allocating to them.
The total amount for lines 2 and 3 must of course equal the amount for line 1.
If Feed Expense was originally associated with a particular class, and you're transferring it to different class(es), line 1 would include the original class assignment (so the amount will be removed from that class and associated with the classes in lines 2 and 3).
Mark Wilsdorf
Flagship Technologies, Inc.
http://www.goflagship.com
==========
====================================
(11/20/2000) B.H. wrote:
I finally figured out how to do the transfers,but they don't show up in manage plus reports when I do them in the general journal.Just wondering what I'm doing wrong.
====================================
Both the debit and credit portion of the transfers must involve income or expense accounts in order to appear in ManagePLUS reports.