Create Item Revenue History

This document provides a comprehensive guide on how to accurately enter historical revenue records for equipment in HirePOS. This process is essential for maintaining accurate financial records and ensuring that all earnings prior to the transition to HirePOS are accounted for.

If you need to enter accurate records for machines in HirePOS to account for their earnings before your transition, you have two options:

• Recreate all invoices with outstanding balances from your old system in HirePOS. Ensure that these invoices have the same invoice number and date, and that they are dated before the changeover date.

• If you prefer to simply update HirePOS with the 'Revenue generated' by the machine prior to its time in HirePOS, you can do this with a single invoice.

To create a backdated revenue invoice, follow these steps:

1. Create a customer named 'Opening Balance' or a similar designation. This will allow you to associate the invoice without it appearing in any existing customer’s invoice listing.

2. Set the date of the invoice to a date prior to when the items were entered into HirePOS. This ensures that the revenue is backdated appropriately. Note that booking and hire dates are not required for this invoice.

3. Add one line item for each item, with the line total reflecting the total earnings before the items were brought into HirePOS.

4. At the end of the invoice, after addressing all items, include one negative value line that equals the total value of the invoice. This will reduce the invoice value to 0.00, while still retaining the line values for each item, thereby setting them up with the revenue earned.

By following these steps, you can ensure that all historical revenue is accurately recorded in HirePOS, providing a clear financial picture for maintenance expenses and other accounting needs.