Rice Lake TransAct 1.0 - Manual (Page 106)

102 Accounting
Measured Rates Window
Measured rates are defined for each category item by unit of measure
(pound, yard, and count) and direction of transaction (incoming or
outgoing). For accounting purposes, the direction of a transaction is
redefined as either Receivable or Payable; the column labeled RP in
the table is for designating rates as R (receivable) or P (payable).
Measured rate can be set up as incoming receivable, outgoing receiv-
able, incoming payable, or outgoing payable.
Example:
This example sets up tires in a landfill as an incoming receivable
(the landfill receives payment from the customer) and as an
outgoing payable (the landfill pays another company to take the
tires from the landfill).
A landfill charges customers $0.0375 per pound or $2.00 per unit
count for tires that are dumped in the landfill. This is a receiv-
able and is marked with an R in the RP column. In turn, the
landfill must pay a vendor $0.02500 per pound or $1.00 per unit
count to dispose of the tires. This is a payable and is marked with
a P in the RP column.