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Question: I received a payment which covers 2 months from last year and 2 months from this year. How do I enter it?
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| Answer: The correct way is to enter in the amount produced for November, December and January into three records in the database. Enter in a value of $0.00 for the amount recieved and leave the check number blank. Set the dates for the last day of the month. The February record will contain the amount paid for all 4 months along with the amount produced for February. This will allow the charts and reports to contain accurate information. If you wish to save time entering data, you could enter in the amount recieved in February and total amount produced for the 4 months into the February record. This would skew the data for the Production chart, so you would need to keep this in mind when you view that chart. In both, cases the financial information would be correct. You want to be sure you record the payment to a date with the correct tax year that it was recieved as income to you. |
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