Recording a Grain Sale with Deductions

To record a grain sale with deductions, go to the Transaction screen. You can access this screen by using the orange + at the top of the screen and selecting Deposit or Receivable Charge.

You can also select Sales from the left navigation panel and click Transactions. Select either Deposit or Receivable Charge.

Select the customer you sold to, your bank account, and the date of the sale. You may enter a reference number if you wish (this is optional).

Select IN as your type and select the income account that applies to the sale. Enter your grade information from the detail drop-down, description, quantity, and the gross amount of the sale. Your gross sale will be the dollar value of the grain sold before any deductions are taken.

If you print invoices for your customers, you can enter the quantity sold and the unit value. This information will print on the invoice.

Click Add a row.  You will now need to start classifying your deductions.  Start with any deductions that can be expensed, such as commissions & levies, or trucking expenses.

You can also deduct any cash advance repayments, or any other loan or payable repayments that are taken from your sale.

Keep an eye on your total at the bottom of the screen.  When you are done entering your lines, the total should equal the amount of the cheque you have received or will be receiving.

You can click Review if you want to see the debits and credits for the transaction.  Once you are sure everything is correct, click Save.

Last updated on October 22, 2020 by FCC AgExpert