• Registered: 06/25/2011
  • Posts: 3

Topic: Multiple splits/allocations per item?

I'm new to FA, using it to run a small publishing company. For each item we have in inventory, we have a number of potential stake-holders who receive a royalty. For example, on one title, the author gets 40%, the illustrator gets 10% and the company itself retains the remaining 50%. These are percentages of the net.

Ideally, I'd like to be able to set up those allocations when I enter a new item into inventory, and have the proceeds automatically split into associated ledger accounts whenever I post a sale of that item. Is this possible in FA? Is there a way I can fake it?

Jefficus

  • Registered: 12/25/2007
  • Posts: 2,448

Re: Multiple splits/allocations per item?

I guess you have to set a couple of accounts to separate  sales of goods with different percent schemes, and define related quick entry definitions. Then once a month you can distribute net income into the three profit accounts using Journal Entry.
Janusz