Distribution Business

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

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,

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.

Please call the Fast Accounts Team for support.