How to add a Daily Charge Expense (Syndicators only)
This article relates only to Syndicators who need to bill owners for training fees.
In a Prism Syndicator portal, the Daily charges are not generated automatically. However, Prism allows you to create Daily Charge Expense manually each month based on daily rates charged by your Trainers
On the top right of Finance page, you can see several buttons. To create a one off expense, click + Add Expense button then select “Daily Charge expense” option, Daily Charge expense dialog shows.
- From Date: the start date of the transaction. Default is the end date of the last statement plus 1. This date is required.
- To Date: the end date of the transaction. Default is the end date of the month but you can change it as required
- Horse: User can select one or multiple horses to create expense.
- Rate: this is sale price amount per day
- Description: This is a free text field, you can input description as you want
- Invoice Message: the message displays in the owner statement. This is auto-generated but can be edited
- Amounts Are: is the tax setting for the Sale
- Receivable Account: the account you assign the sale to.
- Tax Rate: tax rate % which is applied to the sale
- Tracking Category: The tracking you want to use to trace the sale.
Once you fill in these fields, click Save to finish and a new transaction is added to the list on the top
If you don’t have the tracking category settings, Tracking Category field will not show in your screen. To set up Tracking Category, check Manage Tracking Category.
If you edit the horse ownership after creating a Daily charge expense, the new ownership will not auto apply for existing Daily charge expense. You must to edit this expense to update ownership.
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