FIFO ALLOCATION UPDATE!
Excellent news! We here at the FastAccounts Team have made yet another brilliant addition to FastAccounts, now business’ that offset sales receipts and supplier payments on a FIFO basis may now do so by simply typing the receipt or payment in the amount box on either the ‘Add Sales Receipt’ screen or ‘Add Supplier Payment’ screen and it will be automatically allocated to the unpaid sales invoices or supplier bills on FIFO basis. Should you require, you may alter these allocations.
We have also added FIFO Allocations to the following screens:
- Credit Receipts
- Credit Payments
- Credit Offset (both sales and expenses)
The new automated FIFO system will increase overall efficiency through its ease of use and time saving due to no longer having to type every allocation individually.