• Registered: 01/08/2014
  • Posts: 1

Topic: setup Service Items

i'm running a small company field of event organizer i use "US chart of accounts for service company" from repository. but having a problem with  setup item as my expense. here for example a costumer "XL gathering" with $ 700.00 budget asked me to make an event. during that event that i organize there is a cost:
1. design the stages = $ 100.00
2. lunch = $ 250.00
3. transportation = $ 150.00
that mean total expense for that event is $ 400.00 and my profit is $ 300.00
but i found that my profit is $400.00 which is my expense for that event and $ 300.00 is costumer balance which is must be my profit. please need your advices where and how i must chance it or edit it.

apologize for my bad English and thank you for your kind to spend some times to give me advices

best regard

  • From: Singapore, India, Chennai
  • Registered: 05/02/2009
  • Posts: 6,150

Re: setup Service Items

You have got your credits and debits reversed.

Invoice to customer:
By Service Sales of XL Gathering Event - $700 Cr

Costs:
To Caterer for lunch = $250 Dr
To Travel Agency for transportation = $150 Dr

Since designing $100 is part of your charges and will belong to you, it is not included in the costs to agree with your idea of profit of $300 (Cr) which Service Sales folio will show.

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