Accounting Panel

The accounting panel can be seen in the below areas and will display all accounting transactions associated with the Item. Each of the items below is assigned a Control, and we track balances based on controls in accounting.

  • Service
    • Payments tab
    • Parts Inventory
    • Part Orders
  • Inventory
    • Costs tab
    • Parts Inventory
    • Part Orders
    • Bulk Inventory Costs
  • Deals - Finances tab
  • Loans - Details tab
  • Credit Cards
    • Individual Transaction
    • Batches
CAUTION

None of the balances in this panel can be filtered by date. If a balance, profit, or cost gets modified at a future date there is no way to see that in this panel.

Open Receivables / Payables

This section shows open receivables, payables, and undeposited funds associated with the control. You can use the button on the right-hand side to Pay, Receive, or Deposit the open balances.

Negative Payables and Receivables

If a payable or receivable has a negative balance, the button on the right will switch to the opposite value.

For example, if I have a payable for (500),thatmeansIoverpaidwhichmeansI′mowed500), that means I overpaid which means I'm owed 500 back to clear the balance. So, the button on the right will say Receive to reflect the fact that I need to receive $500 back from the vendor.

Account Balances

This section shows open balances in any accounts that have Track Control Balances checked.

The idea behind this section is to ensure that all assets and liabilities are eventually cleared out so that there are no balances remaining in the accounting system. We don't care about bank or credit card accounts in this section because those are the way we pay for a cost or receive money. Some accounts we would care about here:

  • Payable and Receivable accounts
  • Inventory asset
  • Flooring accounts
Balance Detail

Any of the balances that you see that are highlighted blue can be clicked so you can see the specific transactions where the balance is coming from.

Profit and Loss

This section shows the Profit and Loss, or Income Statement, for this particular Item.

If there are no manual income or cost transactions recorded in accounting against this control, then the profits calculation total should align with the profits on the deal or service ticket.

Details

The details tab gives you access to all the accounting transactions associated with the item. These are the same transactions that contribute to the Open Payables/Receivables, Account Balances, and Profit and Loss above.

You can click into each of the individual lines to see the transaction detail.

You can also click New Journal Entry to create an accounting transaction with the control for the given panel pre-selected.