Cost Transfers

The Cost Transfers screen allows you to transfer the cost of menu items, prep items, and inventory items from their regular expense account (assigned to them by their inventory level) to any other GL account. Thus, you can use this tool to transfer expenses between departments in a single entity or between entities. When transferring between entities, an intermediate inter-company (I/C) account is hit in transit.

As an example, if you comp a band drinks during a show, you might transfer the cost of the drinks from the regular expense account to a special Event Expense account. You can also use this tool to split the expense of an item between departments. For example, you might split a case of lemons between the kitchen and bar.

This feature can only be used to transfer the cost of an item on the General Ledger, not the inventory.  If you wish to transfer inventory to another store, along with the cost, use Inter-Store Transfers.  To view a history of your cost transfers, you can use the Cost Transfer Register and view GL totals in the Cost Transfer GL Totals report.

If you need to void a cost transfer, you can do so using the Void Cost Transfer feature.

Performing Cost Transfers

The screen appears similar to the following:

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There are two ways to perform a Cost Transfer transaction. If you have Standing Cost Transfers setup, you can click Use Standing Transfer and select the standing transfer template you wish to use, or you can begin from scratch and fill in the following fields.

Header fields

Detail fields

You can perform cost transfers for Menu Items, or Inventory and Prep Items. These are selected on different tabs, but the transaction will include all items selected on both tabs.