Can I setup internal warranties to show as Debit
Posted: Mon Apr 22, 2019 6:38 am
How can we setup the Internal Warranties to show as a Debit to the General Ledger where it will show as a Warranty Expense?
Method One:
Post Work Order to Account Receivable and Negative Adjustment off to an Vehicle Expense account
Method Two:
Step 1 - Work Order -Sell all Parts / Labor at Zero Dollar Amt - Remove Taxes (if applicable to your area) - Post the Zero Dollar Work Order and you don't need to make an Receivable Account.
Step 2 - GL Adjust any dollar amounts under Material Cost and put to the Vehicle Repair Expense Account.
This method will no detract from your gross profit.
Also don't forget that if you go to Setup | Ledger Settings | Some accounts you can change from asset or from expense, if you hover over Asset a drop down arrow will show up and will give you the option to change account.
Not all accounts are like that only a certain few.
Method One:
Post Work Order to Account Receivable and Negative Adjustment off to an Vehicle Expense account
Method Two:
Step 1 - Work Order -Sell all Parts / Labor at Zero Dollar Amt - Remove Taxes (if applicable to your area) - Post the Zero Dollar Work Order and you don't need to make an Receivable Account.
Step 2 - GL Adjust any dollar amounts under Material Cost and put to the Vehicle Repair Expense Account.
This method will no detract from your gross profit.
Also don't forget that if you go to Setup | Ledger Settings | Some accounts you can change from asset or from expense, if you hover over Asset a drop down arrow will show up and will give you the option to change account.
Not all accounts are like that only a certain few.