Hi team,
Currently, the Income Account is defined at the Item level. This means that the sale of any particular Item can only be posted against one pre-defined Income Account, irrespective of who the Item is sold to.
Our Item Inventory is sold to numerous domestic distributors, export agents and some direct to retail customers. Income Accounts are grouped such that domestic distributors, export agents and direct retail customers are each distinct.
The available work-arounds are:
1) set up multiple versions of each Inventory Item, so that they are allocated an appropriate Income Account -- this doesn't work for us as our production process generates a quantity of items which are recorded as Inventory, and then the sales process determines where they are sold to; we don't necessarily know who we are selling to when we manufacture the Items.
2) for each sale, prior to raising the invoice, manually update the Income Account of the Item to reflect where it is being sold to, then change it back -- this process is time consuming, cumbersome and prone to mistakes.
3) journal to achieve the right value in right Income Account -- as per work-around 2, this process is time consuming, cumbersome and prone to mistakes.
Suggested change:
Allow the Income Account to be set at the Customer level, rather than the Item level, so that a sale to a particular customer will determine which Income Account the sale is posted to.
Cheers
Josh
'Income Account to be associated with Customer rather than Item"
... View more