Revenue Items are primary component of invoice line items, They are used throughout Atlas including Sales Opportunities, Billing Records, Event Items and all invoices. You can create as many Revenue Items as you need for the different line items you bill for, and will be able to run many revenue reports that are categorized by these items.
Follow these steps to create Revenue Items:
- Go to Admin > Manage Codes > Revenue Codes > Revenue Items. The Revenue Items window will appear.
- Click New. All the text fields on the top of the screen will empty.
- In the Item Name field, enter the name of your new Revenue Item.
- In the Description field, enter a specific description of your new Revenue Item. This is the default text that will appear printed on invoices that use this item (though you can always override this on any specific invoice).
Revenue Items can either have their pricing configured now, or the invoices they are used on can have the price set at that time. There are three options for pricing on a Revenue Item:
- Unit Price - Use this if the price of the item should be multiplied against a quantity amount. This is the most common Pricing style.
- Base Price - This amount will be added to any amounts that are also added in the Unit Price or Flat Fee amounts
- Flat Fee - Use this if the item always has a flat fee. It will not ne added or multiplied by any Quantity amounts entered later.
Revenue Item Flags
Revenue Items can be flagged for reporting and analysis purposes later. Revenue Items can have as many flags as necessary.
- Taxable - Check this when the product or service represented in the Revenue Item is taxable.
- Dues Type - Check this when the Revenue Item is for Dues. This will be useful in several reports and in the Drop Automation procedure.
- Cash Basis - check this if the Revenue used for this Revenue Item is accounted for on a Cash Basis. There is no Accrual Basis checkbox, so checking or unchecking this box determine how revenue is Posted to your Accounting software.
- Tax Type - Check this if the Revenue Item is the Tax that will be applied to other taxable Revenue Items
- Pledge - Check this if the Revenue Item will be used as part of Atlas Pledge Campaign module.
- Inactive - Check this if the Revenue Item is no longer being used. Once checked, the item will cease to be offed.
*NOTE* Before you can add tax to an item, the tax item itself must be created. You can create a tax type (e.g. "Sales Tax" by following the steps in this article, and checking "Tax Type" and entering the percent before saving).
To assign your Revenue Items to your Accounting System, you must have your Account Codes and Accounting Package entered into Atlas. You can do this by going to Admin > Manage Codes > Revenue Codes > Account Codes.
- Accounting Package - Select the Accounting Package this Revenue Item is tied to.
- Debit Account - The Account in your Accounting Package that gets Debited when this Revenue Item is used. Usually, this is a Receivables account. If the item is marked as Cash Basis, you can leave this field blank.
- Credit Account - The Account in your Accounting Package that gets Credited when this Revenue Item is used. Usually, this is an income account (or 'revenue account'). If the item is marked as Deferred Revenue, this should be the Deferred/Unrecognized account.
- Class - The Class in your Accounting Package that gets Credited when this Revenue Item is used
- If you chose a "QuickBooks" Accounting Package, you will be prompted to enter the Class for the revenue item. Choose the Class or Sub-Class that any invoice using this revenue item should be posted to in QuickBooks. **NOTE: if you use QuickBooks Desktop, you must manually enter your QuickBooks "Class Types" into Atlas. You can do this by going to Admin > Manage Codes > Revenue Codes > Class Types. QuickBooks Online classes are populated automatically after importing Accounts.
- If you chose an "IntAcct" Accounting Package, you will be prompted to enter your Department and Location for the revenue item - simply click on the drop down that appears below the accounts and choose the Department and Location from the resulting list.
This feature is included or available for purchase with the following Atlas packages.
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