When To Enter Sales?

mkeeley

Hello

One of my web sites sells graphics for developers and takes payment via ShareIt! (or PayPal but that's not a problem). I price up in US$ but I'm paid in £ a month in arrears, so, for example, August sales get paid in Sept and it's not until then that I receive a report showing the £ value of sales, orders just come through showing the $ amount.

Therefore do I enter the sales when the order arrives and fill in the £ amounts later when I know them, which would be a bit of a pain, or wait until I receive my statement the next month that includes the £ values and enter them then, a month after the order was placed? Or doesn't it make any difference?

Thanks

Marc

Lawbag_2

whatever method you choose, I would firstly recommend you being consistent.

Because you are unaware of the amounts until the statement arrives I would invoice when the statement turns up, but you should date the invoice the previous month.

mkeeley

Thanks for that. So I may as well print off the orders as they arrive but for get about entering them until I receive the Payment report.

The only slight problem is that they give the order number for each sale but not the date, the date is always the last day of the month. I could go through all the sales and find the actual dates but that would be a pain or enter them all as the last day of the month. Not sure if that would be OK though.