Accounting Setup

Items

• Costing Method

  • FIFO

  • Should also use Standard Costing fields.

    • They use the Standard Base Cost (with a markup of real FIFO inventory costs) for project costing and price quotes.

• Outside Service Work Centers

  • Purchase Price table

Payment Terms

• Pay in full at signing, check or draft. -5%

• 25% at signing 25% at posting (phase 1) and 50% at the end  (must pay by CC)

• 50% at signing.  50% at the end.     (must be paid by CC)

• Pay at the end ( commercial clients only) need PO

• For retail all COD, we may take partial payments to Pack and we ship only once paid in full

Currency Codes

• GoldFinch to turn on Multi-Currency

  • Multi-currency (USD and CAD)

  • Update Exchange Rate once a month.

Vendors Discounts

GL Account = 5015 Vendor Payment Discounts

Sales Tax V2

Landed Costs