Useful tips for successful records
How do I record
labor transferred for an item from another enterprise?
To handle labor traded for another income, use
two non-cash transactions to balance your books and give each of the
student’s enterprises the appropriate credit/debit for work done and
items traded.
First, for the enterprise where the work was
done, record non-cash income (usually a placement or personal
enterprise):
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In the “Income & Expense Register”, place a
“X” in the “NC” column.
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In the “Enterprise” column, select the
enterprise for which the student did the work
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In the “Income/Expense Category” column,
select “Labor Xfered for NC Expense”
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Enter the appropriate data, citing what the
labor was traded for and number of hours in the “Description” column
-
Enter the value of the item(s) for which the
labor was traded
Secondly, for the enterprise that received the
item, record non-cash expense.
-
In the “Income & Expense Register”, place a
“X” in the “NC” column.
-
In the “Enterprise” column, select the
enterprise will use the item that was traded for labor
-
In the “Income/Expense Category” column,
select the non-cash expense, i.e. “NC Feed” for a livestock enterprise
-
Enter the appropriate data, citing again
what it was traded for.
How do I record
a personal gift?
-
On the “Start” tab, set up a personal
enterprise.
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On the “Income & Expense Register” select the
personal enterprise in the “Enterprise” column.
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Under “Income/Expense Category,” select
“Income other than earnings”
-
Enter your data
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