The MD of our organisation has asked me to look whether or not I could provide him with some version of profit centre accounts.
I have done this in a past life, but it usually involves sub accounts on the nominal. Is such a thing possible on Quickfile?
Regards
Paul.
You can create your own nominal accounts in QuickFile, there’s a theoretical limit of 9999 nominal codes that can be created, we don’t support sub accounts.
I would however recommend looking at project tagging as this was designed specifically for managing cost centers.
Thanks Glen.
Project tagging (at first glance) appears to be exactly what I’m looking for. (Although it may take a bit to get my head around)
Many thanks for getting back to me.
Hi
I new to Quickfile and still getting my head around the different features. With project tagging can you tag each line from a purchase or sales invoice to a specific project such as project a, b, c etc or is it just the whole invoice. I see there is an adjustment button but looks like it will take up more time to go back through and adjust each invoice.
Currently alot of the bookkeeping is done on VT transaction and departments are set up to allocate sales and direct expenses to each department or project when the intial invoice is inputted. Is there any other way a similar process can be followed on Quickfile? Or can you split the nominal codes such as 4000.1 and 4000.2 for cost centre 1 and 2 etc. Sorry if this has been asked before.
Hi @kevinb
Welcome to QuickFile!
The project tags can be applied to the invoice as a whole. Unfortunately, it’s not possible to attach it to individual lines. As you’ve mentioned, this is where the adjustment tool comes in. You can use the tool to adjust the invoice or cash value, and record a description against it too.
In a similar way with the nominal codes, there are the standard system codes 4000 etc. which can’t be split. You can however create your own. So you could very well have 4000 General Sales, 4098 Department B.