Hi, I’m testing Manager and my current P&L statement looks like this linked image.. As you can see, the 2 subgroups under Revenue have nothing. I used the following settings:
- Chart of Account subgroups: “ECOM dropship sales” and “ECOM Marketplace sales”
- Customer specific revenue accounts: 4010, 4020, 4030, etc. under the subgroups in 1
- Divisions: “ECOM dropship” and “ECOM marketplace” (I should change these as they are too close to the CoA subgroup names)
- Custom income account: “Product Sales” for some items, the rest are on default
- Invoices: used the division “ECOM dropship”
My questions are:
- I want to see revenue by Customer on the P&L statement. To move the revenue currently under “Product Sales” and “Inventory - sales” moved to the customer specific revenue accounts, do I have to create a unique item with custom income account for every customer?
- If what I want in 1 is incorrect by accounting practices, how should I structure my accounts?
Thank you
I would suggest setup items as Marketplace items as Inventory Items (Assuming you own these) and Dropship items as Non-Inventory Items (Assuming you don’t own these). For Market Place items sales revenue will appear under Inventory -Sales (You can change this but u cannot specify it for each customer.) For Dropship items (Non-Inventory Items) you can specify other revenue account like Dropship Sales or whatever you like.
Further you can get revenue per Customer from other sources like Advance Queries.
Setting up Charts of Accounts per you Customer doesn’t make much sense to me as the number of Customer grows that will make issues. Still if you want it you can setup items for each customer separately and create accounts for each customer under revenue and then select that on each item custom income account.
Still do contact an accountant before doing such thing, as to me it doesn’t make much sense.
Thank you for the suggestions. The set up you described does make more sense now that I’ve looked more example income statemnts.