Income Accounts

USER DEFINED INCOME ACCOUNTS ARE FOR THE SOLE PURPOSE OF RECORDING OTHER INCOME ITEMS ONLY AND NOT FOR SALES INCOME.  ONCE USED THESE ACCOUNTS WILL BE CLASSIFIED UNDER "OTHER INCOME"

THE PURPOSE OF THE "USER DEFINED INCOME" ACCOUNTS IS TO ALLOW THE USER TO RENAME AN INCOME ACCOUNT TO CUSTOMISE THE ACCOUNT HEADING TO CATER FOR A PARTICULAR TYPE OF INCOME RECEIVED BY THE BUSINESS FOR WHICH AN EXISTING INCOME ACCOUNT DOES NOT EXIST AND WHICH IS NOT SALES / CUSTOMER RELATED.

SALES INCOME SHOULD NOT BE RECORDED WITHIN THESE INCOME ACCOUNTS.

 
 

SETUP > USER DEFINED INCOME / EXPENSES / DIRECTORS

 
Fixed Name                                                                                             
 
Click on the Fixed Name of one of the INCOME accounts which you wish to rename e.g. User Defined Income #1.
 
 
 
Enter Preferred Name here                   
 

Within this box type the preferred name of the income account to suit a particualr type of income being received.

The account will now show under the user determined preferred name on the accounts and all reports.

 
THERE ARE NO VAT RATES ATTACHED TO THESE ACCOUNTS. WHEN ENTERING TRANSACTIONS YOU WILL HAVE THE OPTION TO ASSIGN ONE OF THE STATUTORY VAT RATES TO THE INDIVIDUAL TRANSACTION IF REQUIRED.
 
 
 
  

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