Some companies choose to utilize Google's AdSense program, where you earn money by displaying ads on your website. It's a way to earn some extra income on the side.
This revenue should be recorded in your accounts. The most important thing to remember is that Google is located in USA, so it should be recorded with the correct VAT rate.
We'll provide an example here where you've received income from the AdSense program through a bank transfer. First, we need to create AdSense as a product in Fuluflow.
How to Handle AdSense Revenue
Before we can record AdSense revenue, we need to create a revenue account for it. You can follow our guide on how to create an account in the chart of accounts. The account should belong to the 1100 - Revenues account group and have an available account number. For instance, you can name the account "Other Operating Revenues."
First, we need to create a product in Fuluflow
After that, we need to create a new product.
The product is now created.
Next, we need to create a new contact
Now, we need to create Google as a contact. You can create a contact by going to Cash → Create Contact.
Google is now set up as a contact, and we can proceed to record the income from AdSense.
Recording AdSense Revenue
Now that we've created the product and contact, we can record the AdSense revenue.
We do this through the invoicing module. Click on Sales → Invoices → Create Invoice.
You've now created the invoice. Next, you need to register the payment to your bank account by clicking on Register Payment.
When you register a foreign invoice like this, you'll also be able to see the full amount under Section B in the VAT return. You can find the VAT return under Reports → VAT Return.