How to Manage Co-Op Funds and or Manufacturer’s Rebates In the service industry, rebates are often available from equipment manufacturers to your customers. Many times, these are “cooperative” rebates which involve you, the service company who sells the equipment. Take this common scenario for example: You sell an Acme brand furnace to one of your […]
Vendors & Accounts Payable
A warranty reserve is money that is set aside to pay for warranty claims made by your customers against your products or service. The money you set aside is known as a contingent liability. It appears on your balance sheet. Each time you make a sale, you increase that liability. Every time you incur a warranty cost, you lower that liability.
Overview This topic was written to help you understand how to enter outstanding bills and other A/P transactions into Total Office Manager. This work will help assure that Total Office Manager’s balance sheet is up-to-date and current as of your company’s start date. Usage After you’ve entered the historical bills and bill payments from your
How to Handle Warranty Work and Warranty Item Returns This article discusses how to manage warranty work for your customers and how to track and retunes items to the vendor that are covered under their warranty. At the bottom of the page, there are links to related topics including how to setup a warranty reserve.