Tips for Using Direct and Gross Profit Sales Tax Items If you have any Sales Tax Items setup to calculate based on an Items Direct Cost or Gross Profit you will need to keep the following information in mind, as they will have an effect on your Sales Tax Calculations. Serialized Items When using Serialized …
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Writing Off Bad Debt and Dealing with Collection Agencies Collection agencies are often used to collect overdue receivables. Typically, the agency will take a percentage of any debt collected (40% is not uncommon), then forward the remaining portion of the payment to you. There are a variety of acceptable methods of accounting for this activity. …
This topics covers what to do when there is a change of ownership with a property (like a house) or when you otherwise wish to change or remove the Parent on a Customer:Job. Changing or Removing the Parent on a Customer Job When a customer has financial history, you cannot break the financials. In the instance …
How to Setup and Invoice (Bill) for Job Retention (Retainage) In this knowledgebase article, you will learn how to setup Total Office Manager for retaining money on jobs. You will learn how to track that money and how to invoice your customer for that amount of retention. This article deals with money held in retention …
How Discount Items Affect Accounting And How to Use Them We are often asked about how-to setup and manage discounts. The question about discounts is an age-old accounting question. It doesn’t have anything to do with accounting software but has a lot to do with how you want your reports to reflect discount activity. If …
Scenario A credit exists within a customer’s family unit that you would like to apply this credit to another customer within the family unit. When trying to set this credit against an open invoice, you are not able to see it as available in the Credits Form. The answer is simple. You are using hierarchy …
How to Handle New Property Owners or Changes in Leaseholders This topic covers how and when to use the “Copy Customer:Job” feature to deal with builders who sells homes, homeowners who sell their houses, landlords that lease a property to different tenants, commercial property changing ownership, and similar scenarios relating to changes of property ownership. …
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An Introduction to Job Costing Concepts Do you know how much money you make on each job? What were your costs and how many labor hours were spent doing the work? To answer these questions, and others, we use a management technique known as “Job Costing”. In its simplest form, job costing is the art …
How to Correct Deposits or Customer Payments Have you ever recorded a customer payment or deposit in Total Office Manager and later found you’ve made a mistake? Often, you will not catch a payment or deposit error in Total Office Manager until you are reconciling your monthly bank statement. This help topic covers ways to fix …
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Introduction Refund checks are typically written for two different circumstances: A customer returns merchandise for a refund, or A customer overpays their account balance. Creating a Refund Check for Returned Merchandise Step by Step When a customer returns merchandise and expects a refund check, a credit memo is created to record the return of merchandise, …
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