CenterPoint® Fund Accounting - Understanding and Using Sales Groups

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Sales Group Video - Duration: 12 min 13 sec

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Sales groups provide a way to group various sales (inventory) items for sales reporting. Sales group reporting allows you to quickly get an overview of sales by groups of inventory items. A default General sales group is added when CenterPoint is installed.

 

Example: A hardware store has tens of thousands of individual items setup. They've also setup sales groups for paint, electrical, plumbing and miscellaneous supplies. Each item is assigned a default sales group. For the service side of their business, they set up sales groups for warranty service and non-warranty service. With this type of setup they can get sales reporting on each individual item or for an entire group of items.

This topic includes information on:

Creating a Sales Group

Assigning a Sales Group to a Sales Item

Reporting Sales by Sales Group

Creating a Sales Group

  1. Select Setup > Sales > Sales Groups.
  2. Click on the New button.
  3. Assign an Abbreviation and Name for this sales group.
  4. If you have the Inventory module installed, assign default accounts for:
  • Sales - Enter the sales account to which you want sales for this sales group applied. Invoice sales are credited to this account.
  • Returns & Allowances - Enter the returns account to which you want returns (credit memos) for this sales group applied.
  • Cost of Goods Sold (this box will not be available if the File > Preferences > Customer Invoices > Cost of Goods Sold is set to maintain COGS at the Inventory account level). Enter the Income Statement account that is debited when you sell or use inventory.
  1. If you have the Inventory module installed, select a Commission method to use by the sales group. Commission items are set up in Sales > Sales Commissions and can be set to calculate as a percentage of sales, percentage of profit, percentage of cost, or percentage of weight. A fixed amount can also be an additional amount on top of a percentage.
  2. Click Save.
  3. Repeat steps 1-6 for each sales group needed.

Assigning a Sales Group to an Item

  1. Select Setup > Sales > Items or Setup > Inventory > Items.
  2. To change the Sales Group on an existing Item, select the item and click Edit.
  3. In the Sales Group field, select the appropriate group for this item.
  4. Click Save.

Reporting Sales by Sales Group

The Sales by Group reports will allow you to see your sales totals for each group. Select Reports > Reports > Transaction Reports > Sales & Accounts Receivable > Sales by Group or Sales by Group (Item Detail).

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