'Specify Only' - A detailed glance at one of your client code settings.
This 'Specify Only' code option was developed for the situations when you will "Specify" goods, but not do the actual purchasing. It allows you to create orders, but does not expect you to pay the vendor and does not create accounts payable or cost of sales.
This is the default value that fills in when new item records are entered for this client. Note: It can be changed in the codes section for each individual item if need be.
My client wants to pay vendors directly using their own credit card (or I am paying with my clients credit card), but I want to track the purchases and charge a design fee.
If I set Specify Only = Yes, I can create orders and Studio will calculate and bill the design fee only.
(Code setting can be found under 'Projects' -> 'Clients' -> 'Codes'.)
Note: When creating and saving a new Client, this value auto fills with 'NO'.
- Specify Only defines if you want general ledger transactions created for Accounts Payable.
- Specify Only should be “Yes” if you do not purchase products for your clients.
- Specify Only should be “No” if you purchase products and resell them to your clients.
The valid options for Specify Only are:
- Yes – you specify only and do not purchase products for your clients.
- No – you specify and purchase products for your clients.