Can I add 2 income account in one inventory item? Is this possible?I have the same inventory item that I sell in different ways. I’d like to be able to enter sales receipts and decide at that time what income account the revenue should hit.
No. You would need to create two different inventory items. For a lengthy discussion on this topic, see another ongoing thread:
Hello @Tut, I think we have different reasons why I want to add 2 different income account.
So first I create 3 new custom income account “Lesson Fee”,“Book Fee”, “Extra Book Fee”
Our business is like an alternative school.
When students enroll they pay:
- Enrollment Fee (8 Sessions) (this will go to Lesson Fee Account)
- 4 different exercise books… each book cost 250. this will go to (Book Fee Account).
- If the student finished one or more book within the 8 Sessions. We gave another BOOK to the student and we want this to go in EXTRA BOOK FEE account .
Why we want to do this??
Because some percentage in the “Book Fee Account” will go to our Main Franchisor in Taiwan.
while the “Extra Book Account” is 100% income of the company.
Is it possible? Or can you suggest other ways?? Note that I’m not an accountant. I’m a programmer any suggestions will give me a big help
For the Enrolment Fee, create a Non-Inventory Item and use Custom Income Account - Lesson Fee.
For the books I am assuming you want to monitor/control each different book via an Inventory Item.
Therefore, each of the initial “4 different exercise books” would use the Custom Income Account - Book Fee
Each of the extra exercise books given out would use the Custom Income Account - Extra Book Fee
However, if a particular exercise book (Bk 1) can be both a “Book Fee” and a “Extra Book Fee” then you need to come back for an additional suggestion.
Yes @Brucanna (Bk 1) can be both a “Book Fee” and a “Extra Book Fee”… Even Bk 5 can be “Book Fee”… As I told before if the student within 8 Session finished a book.
Some student enroll again(2nd enrollment) and they just finished the book in their 2nd enrollment .So the book that will I give will be in “Book Fee” only. I’t will become an “Extra Book Fee” account if the student exceed 4 books again within the 8 sessions of her/his 2nd Tier of Enrollment
OK, so the simplest process administration wise would be:
- Create an Inventory Item for each book twice with Bn (B1) using the Custom Income Account - Book Fee
and BnE (B1E) using the Custom Income Account - Extra Book Fee.
On purchasing the books allocate a portion to each Inventory Item based on its usage - e.g., if Book 1 is issued 80% as B1 and 20% as B1E then split the purchase on that approx. basis.
If one of the Items goes into Back Order (over sold), then via a Journal Entry by entering +ve & -ve quantity figures only (no money values) you can transfer inventory between the Bn & BnE.
If you want to do a stocktake, just add the Bn & BnE quantities on hand together.