Turbocash
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Turbocash
@ Mykhal
Hi, since you are one of the developers of this software, you obviously have some insight into accounting.
So i guuess i wanna start this thread so i can ask accounting related to Turbocash. Moderators feel free to move this to an appropriate board if this is not the right place.
Q1. What is the difference between Sales and Cost of Sales ?
Hi, since you are one of the developers of this software, you obviously have some insight into accounting.
So i guuess i wanna start this thread so i can ask accounting related to Turbocash. Moderators feel free to move this to an appropriate board if this is not the right place.
Q1. What is the difference between Sales and Cost of Sales ?
- rustypup
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Re: Turbocash
what is the difference between selling something and what that something cost you? (accounting 101, not turbocash)... and the monetary difference is ordinarily referred to as gross profit, (once running costs are subtracted this becomes grotesque profit)
Most people would sooner die than think; in fact, they do so - Bertrand Russel
Re: Turbocash
Sales is the income you receive from any product or service you sell.
Cost of Sales is the direct cost of getting the product that you sell.
Lets say you are a small cafe...
You pay the cold-drink company R1000 for 500 tins of cold drinks. This is NOT cost of sales, as it is an asset (Trading Stock)
When you sell a tin for R5 (nice profit btw), your Sales account will be cr with R5 and cash on hand R5
Simultaneously your Stock will be cr with R2 and your Cost of sales will be dt with R2.
So your profit is the difference between the Sales account and Cost of Sales Account (R5-R2= R3)
Cost of Sales is the direct cost of getting the product that you sell.
Lets say you are a small cafe...
You pay the cold-drink company R1000 for 500 tins of cold drinks. This is NOT cost of sales, as it is an asset (Trading Stock)
When you sell a tin for R5 (nice profit btw), your Sales account will be cr with R5 and cash on hand R5
Simultaneously your Stock will be cr with R2 and your Cost of sales will be dt with R2.
So your profit is the difference between the Sales account and Cost of Sales Account (R5-R2= R3)
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Re: Turbocash
Referring to my example above - the R3 is gross profit (bruto wins). After taking into account the salaries and other expenses (electricity etc) you arrive at the proper profit (Nett profit)rustypup wrote:what is the difference between selling something and what that something cost you? (accounting 101, not turbocash)... and the monetary difference is ordinarily referred to as gross profit, (once running costs are subtracted this becomes grotesque profit)
Sorry if it sounds dumb - i am actually Afrikaans!
Rustypup - the first part of your question is also answered in my previous post.
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Re: Turbocash
I still have my Turbocash, but my accountant wanted me on the the new Pastel Online. So my Turbocash got shelved.
Last edited by Koko_Lion on 15 Apr 2010, 11:15, edited 1 time in total.
Re: Turbocash
Tell them that TurboCash is free, and we are currently working on a pluggin to export and import Pastel's books
Many people are complaining about the cost of Pastel.
Many people are complaining about the cost of Pastel.
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Re: Turbocash
@Mykal
Yea, thats why I liked it. Was even thinking about getting the manual.
Still got it installed, just got a bit confusing with batch entries, made a big mess the first time.
Yea, thats why I liked it. Was even thinking about getting the manual.
Still got it installed, just got a bit confusing with batch entries, made a big mess the first time.
Re: Turbocash
Batch entries are one of its strong points!
Which version do you have?
Which version do you have?
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Re: Turbocash
So I heard, I am hopeless with accounting. Its version 4.2.0.2
Still trying to work out how one should use the "Owners Draw" account for business owners.
Still trying to work out how one should use the "Owners Draw" account for business owners.
Re: Turbocash
Koko_Lion - ygpm
Setting up the set of books correctly is the most important part of any bookkeeping system.
BTW the current version is 4.3.0.1
Setting up the set of books correctly is the most important part of any bookkeeping system.
BTW the current version is 4.3.0.1
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Re: Turbocash
Is my version very buggy?
Re: Turbocash
Not particularly, but there is such a constant stream of improvements, that it is worth to stay up to date. We are currently trying to work towards a six-month release schedule (As 4.3.0.1 was released late December, we are working hard to finish an improved version)
Another thing - TurboCASH is very customizable, and I do not just mean themes! If the POS system does not suit your needs, get a consultant and he will be able to provide you with a customized pluggin! (That is actually my main income-stream) Many people (us included) still struggles with making a living out of providing open source software.
Another thing - TurboCASH is very customizable, and I do not just mean themes! If the POS system does not suit your needs, get a consultant and he will be able to provide you with a customized pluggin! (That is actually my main income-stream) Many people (us included) still struggles with making a living out of providing open source software.
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Re: Turbocash
How do you convert a quote to an invoice?
MOOD - Thirsty
A surprising amount of modern pseudoscience is coming out of the environmental sector. Perhaps it should not be so surprising given that environmentalism is political rather than scientific.
Timothy Casey
A surprising amount of modern pseudoscience is coming out of the environmental sector. Perhaps it should not be so surprising given that environmentalism is political rather than scientific.
Timothy Casey
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Re: Turbocash
When creating a quote the date is set to today's date by default, but when I save it I'm getting this error message:
Huh? Am I missing something?
Huh? Am I missing something?
MOOD - Thirsty
A surprising amount of modern pseudoscience is coming out of the environmental sector. Perhaps it should not be so surprising given that environmentalism is political rather than scientific.
Timothy Casey
A surprising amount of modern pseudoscience is coming out of the environmental sector. Perhaps it should not be so surprising given that environmentalism is political rather than scientific.
Timothy Casey
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Re: Turbocash
oK, SO I AM USING 4.3.0.0
I am inserting stock. My first item is an item i buy, that i sell to our workshop (at Rzero). This is then built into something i buy (at Rzero). (Only when required though, if not required it sits in stock. if required it is basically issued for manufacture.)
The item i buy is then sold to the customer. (this would be second item i enter into my stock)
In TC, on the stock page there are a few items i am unsure about.
A. What is the "default" field to be filled in with ? Options are : default;bom;sales;purchases;sales(no stock);purchases (no stock);financial entry; option item; option item no stock.
B. in the ledger section, what should my settings be there.
I am inserting stock. My first item is an item i buy, that i sell to our workshop (at Rzero). This is then built into something i buy (at Rzero). (Only when required though, if not required it sits in stock. if required it is basically issued for manufacture.)
The item i buy is then sold to the customer. (this would be second item i enter into my stock)
In TC, on the stock page there are a few items i am unsure about.
A. What is the "default" field to be filled in with ? Options are : default;bom;sales;purchases;sales(no stock);purchases (no stock);financial entry; option item; option item no stock.
B. in the ledger section, what should my settings be there.
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Re: Turbocash
Oh and Mykhal - bug report on installation. I had to copy msvcr71.dll to the installation directory manually to get it running.
MOOD - Thirsty
A surprising amount of modern pseudoscience is coming out of the environmental sector. Perhaps it should not be so surprising given that environmentalism is political rather than scientific.
Timothy Casey
A surprising amount of modern pseudoscience is coming out of the environmental sector. Perhaps it should not be so surprising given that environmentalism is political rather than scientific.
Timothy Casey
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Re: Turbocash
A. Would you be prepared to do a class on TC so we mortal, non accountants can learn to use it.
And
B. if so, where, and at what cost.... a case of beers ?
And
B. if so, where, and at what cost.... a case of beers ?
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Re: Turbocash
@Mclaren
I'm assuming you mean an online class? There are no decent pubs in Caledon!
Do you want to use the full gamut of accounting and stock control options offered by TC? I just need something basic I can do Quotes and Invoices with. Thinking of building something in Excel.
I'm assuming you mean an online class? There are no decent pubs in Caledon!
Do you want to use the full gamut of accounting and stock control options offered by TC? I just need something basic I can do Quotes and Invoices with. Thinking of building something in Excel.
MOOD - Thirsty
A surprising amount of modern pseudoscience is coming out of the environmental sector. Perhaps it should not be so surprising given that environmentalism is political rather than scientific.
Timothy Casey
A surprising amount of modern pseudoscience is coming out of the environmental sector. Perhaps it should not be so surprising given that environmentalism is political rather than scientific.
Timothy Casey
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Re: Turbocash
yeah, i wanna use it to monitor all our financial information.
I am using a very old version of QB, which has some serious drawbacks. Although i said TC was cumbersome, i think it is better than what i am using.
I think it is only cumbersome cause i do not know how to use it, and i too am not an accountant, so any new field or block becomes confusing.
I am using a very old version of QB, which has some serious drawbacks. Although i said TC was cumbersome, i think it is better than what i am using.
I think it is only cumbersome cause i do not know how to use it, and i too am not an accountant, so any new field or block becomes confusing.
Re: Turbocash
After the quote is accepted, chooste the following from the menu Input | Documents | Confirm. On the screen that pops up then, you select the quote(s) that was accepted, It will be copied to the right-hand table titled "quotes to convert to invoice. Then click Convert.doo_much wrote:How do you convert a quote to an invoice?
You must be in the correct financial year. So do a year end, and try again! (But I see that the year is set up terribly strange. You can edit two years at a time (current and last year) So your allowable dates should be something like 1/03/2009 - 28/02/2011 - in which case today's date will be acceptable!)doo_much wrote:When creating a quote the date is set to today's date by default, but when I save it I'm getting this error message:
Huh? Am I missing something?
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Re: Turbocash
This is a strange new one Doo! We currently have some problems with another file, from the database. So I assume this must be a clash with another program on your system! Sorry!doo_much wrote:Oh and Mykhal - bug report on installation. I had to copy msvcr71.dll to the installation directory manually to get it running.
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Re: Turbocash
I agree about not knowing how to use it making it cumbersome, question is if it is worth spending the time getting to know it. I won't mind paying for an app that is a bit more user-friendly.Mclaren wrote: I think it is only cumbersome cause i do not know how to use it, and i too am not an accountant, so any new field or block becomes confusing.
My only issue with QB is that I can't show VAT on Quotes.
Thanks, got that.Mykhal wrote: After the quote is accepted, chooste the following from the menu Input | Documents | Confirm. On the screen that pops up then, you select the quote(s) that was accepted, It will be copied to the right-hand table titled "quotes to convert to invoice. Then click Convert.
Is it possible to split a quote into a number of invoices?
Example - quote is accepted, 25% due on acceptance, 50% on delivery and final 25% on commissioning.
Still, "huh"?Mykhal wrote: You must be in the correct financial year. So do a year end, and try again! (But I see that the year is set up terribly strange. You can edit two years at a time (current and last year) So your allowable dates should be something like 1/03/2009 - 28/02/2011 - in which case today's date will be acceptable!)
This is a 'new' set of books created yesterday afternoon!
Since I dunno what you use that library for I can't comment, but I just copied it over and everything was hunky-dory.Mykhal wrote: This is a strange new one Doo! We currently have some problems with another file, from the database. So I assume this must be a clash with another program on your system! Sorry!
MOOD - Thirsty
A surprising amount of modern pseudoscience is coming out of the environmental sector. Perhaps it should not be so surprising given that environmentalism is political rather than scientific.
Timothy Casey
A surprising amount of modern pseudoscience is coming out of the environmental sector. Perhaps it should not be so surprising given that environmentalism is political rather than scientific.
Timothy Casey
- rustypup
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Re: Turbocash
at a guess, doo_much has office 2007 installed...Mykhal wrote:doo_much wrote:I had to copy msvcr71.dll to the installation directory manually to get it running.
much of the MS managed code was quietly modified in SP1/2 which promptly scribbled even some MS products, (Dexterity and VBA in particular).
Most people would sooner die than think; in fact, they do so - Bertrand Russel
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Re: Turbocash
Nope - running OpenOffice on this machine. Too stingy to fork out MS licensing for all 3 work machines!rustypup wrote:at a guess, doo_much has office 2007 installed...
MOOD - Thirsty
A surprising amount of modern pseudoscience is coming out of the environmental sector. Perhaps it should not be so surprising given that environmentalism is political rather than scientific.
Timothy Casey
A surprising amount of modern pseudoscience is coming out of the environmental sector. Perhaps it should not be so surprising given that environmentalism is political rather than scientific.
Timothy Casey
Re: Turbocash
I do Online classes via Skype @ R750 per person attending per course. It normally is a 3 to 4 hour course. Of course I cannot stop you valies from getting together two-two and sharing a skype connection!Mclaren wrote:A. Would you be prepared to do a class on TC so we mortal, non accountants can learn to use it.
And
B. if so, where, and at what cost.... a case of beers ?
I am also open to discussing revised rates if there are more people wanting to do this. Another option is to look on the Turbocash website (http://www.turbocash.net) for training in Johannesburg done at least every month!
doo_much wrote:@Mclaren
I'm assuming you mean an online class? There are no decent pubs in Caledon!
We drink at home!
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Thanx Ama