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Using the Adjustments tab
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Last modified on 11/22/2017 8:34 AM by User.

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Using the Adjustments tab

Overview 

Reconciling invoices and tracking payments made to you by factories is a very worthwhile task. Based on our experience agents who track commissions more than pay for the time and money invested. Commissions and overage payments are usually sent once a month along with the check is a commission statement (generally) that shows: 

  • What invoices are paid on and amounts
  • Deductions for Samples, Freight, etc.
  • Bonuses, added money, territory splits (sometimes these do not show but need to be accounted for). 

This document will explain how to use the Adjustments tab to reconcile a check. 

 

Using the Adjustments tab 

In the example below notice: 

  • The amount of the check was $3,126.50
  • Total Commission (total dollars of invoices paid) is $3,240.26 (upper right)
  • (The amount paid on each invoice is entered in the “Paid” column.)
  • Difference of ($113.76). This amount is the difference in Total Commissions paid and the actual Check Amount.
  • You can use the Adjustments tab to account for this difference.

As stated above, it is generally used for tracking/charging Freight, charges for Samples, etc charged on your commission check – and assigning that charge to a commission account/salesperson. 

In the example below (Adjustments tab) use the Adjustments tab to “balance” the check.

  • This screen allows you to adjust the commission check to account for items such as freight deducted from your commission check or sample charges.
  • The Description column allows you to completely describe the adjustment.
  • The Amount column allows you to enter the adjustment amount.
  • Charges are entered as negative numbers and additions or bonuses are entered as positive numbers.
  • The AccountID column allows you to charge/add the adjustment to a Sales Account (AccountID).
  • Adjustments can be linked to a “PONumber” or “InvoiceNumber” in the appropriate column.
  • Any adjustments are totaled in the upper right of the header area and the Difference will be noted as well.
  • The goal being the Difference amount = $0.00
  • NOTE – Difference does not have to be $0.00 before posting a payment.

To produce a Commission Check Reconciliation Report (with Adjustments)

While in the Payment screen for this check, click File and Print. Example below.

 Adjustments can also be made in the Sales Account entry. More information here.