ok not sure if this is even possible so here goes.
As part of one of businesses I run events which I sell tickets for, now I have sold done tickets but the event isn't until June. All associated expenses and costs have been set up to hit the P&L in June. So should I do the same for the sales?
create them and either prepay or accure them do they show in June's P&L?
Just if I don't then I'm not going to get a true P&L with the event.
-- Edited by Shamus on Thursday 8th of October 2015 05:39:15 PM
Why don't you simply set each event up as a seperate job / department / Cost centre / Event in VT and allocate everything associated with that event to that Event?
When you are running departments you get a P&L statement for each seperate event as well as an amalgamated one.
Thats the way that I produce the management accounts for a security instalations company that I work with.
Its very simple to set up.
From the Setup dropdown go to Currencies, Departments and Lists.
Choose Departments
Enter your event names
Tick the relevant boxes (generally Income, Cost of Sales and Expenses)
Choose Lists
Click on Departments
Click Properties
Change the word Departments to Events
From now on anything that you want put to that Event you will have an extra column that if its to be specifically allocated you just click on the event in the dropdown list that you want it allocated to.
Your P&L's will then all be fine.
Try it. Copy your VTR file, open up the copy and have a play.
You will get a P&L specific for each event which is what I think that you are looking for rather than what you are attempting to achieve above.
kind regards,
Shaun.
__________________
Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
Only concern now is that event deposits will now show on the event P&L and give a massive loss for the period.
But hold on... Thinking about this,
I would use the No a Events P&L for the accounts and then when the event had happened I would use that P&L along with no events P&L to get the correct calculations for the period?
Correct, (I think, I may have misunderstood what you are saying but I don't think so).
You have the overall P&L, the P&L for events not covered by specific events, and a P&L for each event where costs and revenues can be allocated directly.
For the accounts you use the overall P&L.
For management reporting you use all of the others.
I tend to drop them all to Excel and reallocate unallocated costs (those that are not allocated to any specific event) accross events proportionate to perecntage of income so that I also get a true figure taking into account the proper distribution of general overheads.
You'll keep finding little nuggets like that in VT. Its a lot more complex (in an easy to use way) than most new users realise to start with. I 've been using it for a few years now and I'm still discovering things.
kindest regards,
Shaun.
__________________
Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
