Products are sometimes given away as promotional items or sponsorship. To account for these items use the following process:
- Invoice out the item to the Customer at the standard Retail price.
- Add a G/L ID to the invoice for Advertising.
- Use F8 when in the Code field to look up the G/L Code.
- Change the quantity to -1 and the Rate to match the Rate of the item being given away. This will reduce the value of the invoice to $0 and update the financials to record the cost to Advertising.
If you are going to give a portion of the prize away then adjust the Advertising line to match the value being given.