Sale - Income

LOGISTICS -> Sales -> Income tab

Be sure to read the Life-cycle of a sale to get an overview of the sale process.

In this section you can update details related to the sale income:

  • Currency - Currency for the sale.
  • Exch. rate - Exchange rate to use for calculating the NZD return for this sale. This will default to the latest known exchange rate for the sale date. snapSales updates default rates each night from openexchangerates.org.
  • Locked? - tick to override the Exch. rate and lock this rate to suit any FX arrangement you have in place (see Exchange ledger).
  • Payment basis - Fixed price or Consignment (price confirmed after produce sold through in market).
  • Incoterm - (Wikipedia definition). This impacts which costs will already have been paid out of the return from the customer. Common options:
    • CIF - Seller pays shipping, insurance and other costs to the point of unloading.
    • FOB - Buyer pays all costs after loading, including shipping.

Income lines

snapSales creates income lines automatically when LOGISTICS -> Importing EDI. By default one line is created for each combination of variety, size, grade, and pack (expecting the same price to apply), or based on the Income description in SETUP -> Produce types. These lines can also be split by container if the Split sale income lines by container? option is ticked in SETUP -> Produce types.

Warning

Be careful when changing the filters on income lines. Ensure that each item sold matches one (and only one) income line. Except for costs...

Income Costs?

Customer costs may also be entered as income lines. This happens if your customer deducts costs from their return (and you want to track these). These should be entered as negative, reducing the total payment expected from the customer. The objective is for the total amount of all lines in this section to match the amount invoiced/paid by the customer.

Line details:

  • Description - Description as it will appear on invoices.
  • GL account - General ledger account for this income in the financials.
  • Advance price - The advance price expected from the customer (if any). This is the price used if you generate an advance invoice for the customer. Can set to 4 decimal places.
  • Expected price - this is the total price you expect to (or did) receive from the customer. This should be negative if this line is actually a cost. This is the price used for generating a final invoice to the customer (and for NZ Customs). Can set to 4 decimal places. This defaults to the Price (sell) value in the Store order or from SETUP -> Customer prices
  • Per - This defines the unit the price relates to. Usually the price will be per unit but it could be per kg. Using per kg may be more appropriate to apportion costs across the product sold.
  • Invoice sort - sort order for the invoice.
  • Notes - optional, for your reference.
  • Applies to (filters) - filters the produce that matches this line. Leaving a filter blank means that no filtering will occur on that attribute.

These lines are automatically generated, generally you are altereing the Advance price and Expected price.

Tip

If you have an advance/cost that is for the whole line, you can click on the Total cell to enter the amount, this will then be distributed evenly on the line.

Tip

If you have an advance total you want to pay over the entire sale, select Distribute total advance from the Actions menu. This will automatically calculate the rate required for each line.

Note

If you change the Customer or Destination, the income lines will be regenerated. If you make a mess of these lines, press the "Regenerate..." button to regenerate them automatically.

Invoices

Click Add to generate either Advance or Final invoices.

  • Invoice date - date for the invoice, defaults to today.
  • Container (optional) - select a container if you want a separate invoice for each container, leaving blank will include all containers on 1 invoice.
  • Invoice format - format of the invoice. Year-to-date format shows previously invoiced values.
  • Credit previous invoices not 'sent to customer'? - tick if you want to accumulate all income lines in this invoice but there has already been an invoice generated (and posted) but hasn't been sent to the customer. This will generate a credit invoice (to keep your financial system up-to-date) and a new invoice that you can send to your customer.
  • Advance invoices - generate an advance invoice - list the product in each container using the Advance price entered on income lines above.
  • Final invoices - generate a final invoice - list the product in each container using the Expected price entered on income lines above. Each container also includes "Less previously invoiced" lines to reverse previous advance (or final) invoices.

Click here to see an example invoice and how it is structured.

Fields/icons on the Invoice list:

  • Sent to customer? - tick to indicate you have sent the invoice to the customer.
  • Edit icon - click to edit the invoice. You can change wording here, or add extra information.
  • Preview icon - click to preview the invoice.
  • Excel - click to open the invoice in Excel.
  • Delete - click to delete the invoice.

Exchange contracts

This feature allows you to allocate income against Exchange Contracts. This helps to track the amount of those contracts allocated to sales, and the amount remaining. It is also helpful to determine the exchange rate to use above.

To allocate income against a contract: Click the Add button

  • Contract - select the FX contract from SETUP -> FX Contracts
  • Amount - amount to allocate against this sale.

snapSales will show you the average exchange rate allocated against contracts. You may choose to update and lock the sale exchange rate to match.