Creating Vending Collection Groups
EasyStreets will also store vending machine collection data for easy reporting and monitoring. Collections may be entered for either an individual vending machine or a group of machines, depending on your collection preferences. If a group of vending machines are collected into a single container for accounting, then you will need to create a group containing these machines, so that EasyStreets will know which draws to apply toward the tabulation of the collection data, when it is entered.
When producing collection data reports, EasyStreets will (provided returns data has been entered by you) determine the number of papers sold and at what price, in order to display the amount that should have been collected, provided there was no loss factor in the vending sale, although there will almost always be some loss. But the key to monitoring collections, is determining what constitutes a normal hold percentage as opposed to an unusually low hold percentage.
If you live in a state that charges sales tax on your vending sales, then the reports will also calculate what portion of the collection is Sales Tax.
Steps For Creating a Collection Group
1) From the “Activities” menu choose “Enter Vending Collections”
2) From the “Group” frame clcik on the “New” button.
3) You will see the following form.
4) Now Enter a name for the group
5) Enter the tax rate for the group. (enter 0 if none)
6) Check the box next to each publication who’s collections will be included in the group.
7) Next, check the box next to each account who’s collections will be included in the group.8) Click the “Save” button to save the group.