Savings Accounts help

Includes: Explanation, adding and editing. 

Explanation

  • The Savings accounts function is for automatically transferring a small % of artists commission to another Artist account specifically setup as a savings account
  • You will need to setup an artist account for these savings, an example of a artist account would be, "Lunch program" or "General Savings"
  • The savings account can be turned off when you don't want it to happen, this is good for seasonal savings like Xmas breaks
  • The order of the savings account entries is Important as the savings percentage is calculated on the adjusted amount
  • Note: The Savings account only functions for "Artists Stock" sales and after the sale is paid in full like normal commission payments
  • Note: When a Credit memo is issued all transactions are reversed as before including the savings accounts

Adding

  1. Go to: [Admin] > [Savings Accounts]
  2. Click [+] at the bottom left of the grid
  3. All fields are required.
  4. Account Description: Appears in the artists account as part of the item details
  5. Saving Account: is the artist account where the savings will go
  6. Trigger $: is the artist commission amount that needs to be meet before the savings rate will be taken out, if you want all sales then set Trigger $ to 1
  7. Savings Rate: is the percentage in decimals of how much of the commission amount is to be transferred to the savings account
  8. You can add another by going back to step 2)
  9. Click [Save]

Editing

  1. Go to: [Admin] > [Savings Accounts]
  2. Modify any of the list as required
  3. You can Click [-] at the end of the line of the item you wish to delete saving accounts as well
  4. Click [Save]

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