FastAccounts has special features to support accounting compliance for the Distribution Businesses,
FastAccounts allows 3 deductions for each product i.e. Discount, Retail Margin and Trade Offer, these help to calculate the chargeable price for the customers.
Also, FastAccounts handles both Schedule 3 and non-Schedule 3 for sales tax purposes.
1. How to Setup a Distribution Account
The process is very simple, after login
- Go to the Settings Menu
- Select Smart Settings
In the Invoice Template dropdown select Distribution and press Save.
2. How to Add Products
- In the Main Menu Go To Inventory
- Select Products
- On Product List Select Add New
This will open a New Product Form, select the Product Type as Stock Product.
Fill in the necessary details. If the product falls under Schedule 3, the Sale Price and Cost will be the same.
In Discount, add the % of discount and fill in the TO Sale (Trade Offer) and TO Purchase (Trade Offer), these parameters can be altered when creating a sale invoice or supplier bill.
The difference between TP Rate and Retail Rate will be Retail Margin. At the end Press Save and Close.
3. How to Import Products
FastAccounts also provide an option to import the product data via a spreadsheet. On the Product list, select Import Stock Products.
Download the Sample File and fill in the necessary information. After that select Choose to attach the file and press Import.
4. How to Import Opening Stock
FastAccounts allows easy update of opening stock after products have been setup. On the Product list, select Update Opening Stock, download the import Sample file and fill in the necessary information. After that select Choose to attach the file and press Import.
5. How to Record a Sales Invoice
Setup customers as normal, after that,
- In the Main Menu Go To Sales
- Select Invoice, this will open the Sales Invoice List
- On the Sales Invoice List from Add New Select Sales Invoice
- In the Main Menu Go To Purchases
- Select Bills, this will open Bills List
- On the Bills List from Add New Select Sales Invoice
This will open the New Sale Invoice Form.
Select the Customer from the Dropdown, enter other data.The discount calculation may differ in your business and FastAccounts offer various discount calculations. Speak to our FastAccounts Team Member for further help on this.
6. How to Record a Supplier Bill
Setup suppliers as normal. After that,
This will open the New Sale Invoice Form. Select the Customer from the Dropdown, enter other data.
The discount calculation may differ in your business and FastAccounts offer various discount calculations. Speak to our FastAccounts Team Member for further help on this.
Please call the Fast Accounts Team for support.