Hit Lists

Hit Lists are used to list estimated, recurring monthly invoices that need to be included in the P&L statement immediately, rather than waiting for the invoice. For example, you get a cable bill for $1,500 that is due on the 29th of every month. That $1,500 won't post until the end of the month, but you really need for it to be included in the profit data for the whole month. Therefore, you would create a Hit List for the cable bill. Remaining Period amounts are replaced with actual amounts that exceed the set threshold when an actual invoice is received and entered in A/P. If no invoice is received, the Hit List amount will continue to post. Hit Lists are only used with Fixed line types, and there is only one Hit List per line.

It is NOT recommended that you have more than 20 lines with Hit Lists. Items that could be included are:

  • Invoices that occur ONCE a month
  • Invoices that are the SAME amount each month
  • Invoices that consistently 'Hit' after the month closes
  • Adjustments for 'Hits' from the corporate office
  • Examples:
    • Utilities
    • Certain Franchise Fees
    • Pest Control
    • Contract Maintenance and Services


Once a Hit List item is entered, it is not necessary to re-enter it each month. The only stipulation here is that you may have to adjust certain amounts for seasonal fluctuations. For example, the electric bill may be substantially more in December than in May.

The Hit List was designed for vendors that send one bill per month. If you have multiple invoices for any given vendor in the same month, the Hit List will generally not be useful. The Hit List can be accessed from either of two screens: Config/View Budget and View Profit.


FieldDescription

Vendor

Identify the vendor from whom the expense was incurred.

Threshold

Enter the estimated amount. When Actuals are imported, the program looks for a vendor and threshold that most closely matches the vendor and amount of the Actuals. Once located, the program replaces the estimated amount with the Actual data. Therefore, when you set the threshold, you need to enter a number that is as close to the actual number as possible. If you are unsure about the amount, it is better to enter a number that errs a little on the low side.