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Database Support Team. Advanced Accounting 2005. Database Support Team. 2 Favorite Menu Paths: 4.1.9 19.7b. Database Support Team. ft Create a folder on C drive” pick Enter “ft” at any printer select prompt Will be called “ft.txt” in C:\pick Text file or convert to Excel format.
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Database Support Team Advanced Accounting 2005
Database Support Team 2 Favorite Menu Paths: 4.1.9 19.7b
Database Support Team ft Create a folder on C drive” pick Enter “ft” at any printer select prompt Will be called “ft.txt” in C:\\pick Text file or convert to Excel format
Database Support Team Accuterm settings If users available – multiple ports Turn on Scroll Bar
Database Support Team Menu 13.20 New Accounts Payable – Vouchering (handouts)
Database Support Team Reoccurring Vouchers Enter 13.20.8 Listing 13.20.9 Update 13.20.10
Database Support Team EFTs Journal Entries EFT function Checks
Database Support Team Inventory Reconciliation (handouts)
Detail Summary Database Support Team
Summary Database Support Team • Impact General Ledger (Summary)? YES NO • Receive in Inventory X • Voucher/Accounts Payable X • Month End Journal Entries X
Detail Database Support Team • Impact General Ledger (Detail)? YES NO • Receive in Inventory X • Voucher/Accounts Payable X • Month End Journal Entries X
Database Support Team Average Cost QOH x Average Cost PLUS Difference on Invoice vs. PO _________________________________ QOH
Database Support Team QOH = 10 Average Cost = $14.00ea PO = 10 @ $14.00ea Vendor Invoice = 10 @ $12ea
Database Support Team Average Cost QOH x Average Cost (10 * $14) PLUS Difference on Invoice vs. PO (10*$12) – (10*14) _________________________________ QOH (10)
Database Support Team Average Cost 140 PLUS -20 _________________________________ 10
Database Support Team Average Cost 120/10 = New Average Cost $12 each
Detail Database Support Team Voucher Widget for $100 / Billed $100 Inventory Accounts Payable Summary 100.00 100.00
PPV 25.00 Detail Database Support Team Voucher Widget for $100 / Bill for $125 / No QOH Inventory Accounts Payable Summary 100.00 125.00
Database Support Team Voucher Widget for $100 / Bill for $125 / QOH Inventory Accounts Payable Summary 125.00 125.00 Average Cost of product is updated Detail
Database Support Team Benefits Accurate reflection of Gross Profit by month Accurate reflection of Gross Profit by part Accurate reflection of Net Income No large inventory adjustments at year end Better handle on inventory value and turns Average Cost reflects true cost
Database Support Team • Clear Receivers • Use Menu 13.20.2 and 13.20.3 • Run Menu 13.20.7 at month end and use for reversing Journal Entry • Inventory XXXXX • Inv. Accr XXXXX
Database Support Team • 13.20.2 versus 13.20.3 • Inventory Evaluation • CORP Discrepancies • Only works on DC invoices
Database Support Team PO – ordered/received 4 @$23.81 Invoice 4 @ $29.071 QOH = 5 Curr Avg Cost = $23.81 Calculation (4*$29.071) -(4* $23.81) = $21.044 $21.044 + (5* $23.81) = $119.05 $119.05/5 = $28.018
Database Support Team Other Things to Consider…. Re-opening POs Warranty’s Impact Dropships Store Returns Stock Adjustments Buyback Non-Inventory Items (Z95 items)
Database Support Team Reopening Receivers STOP! If you do it – have to reopen the first & only receiver on the PO OR It throws out your AP/GL Reconciliation
Database Support Team Costing
Database Support Team SRO/RGA
Database Support Team Open Discussion – Discrepancies Corp – Pricing NonCorp – Pricing Corp Shipping NonCorp Shipping
Database Support Team Menu 15 Warranty (handouts)
Database Support Team Widget Avg. cost = $10 Sale Price = $12 Credit from Vendor = $25
Database Support Team • EOM Balancing • Unclaimed Warranties • Claimed Warranties – AR • Inventory?
Database Support Team Menu 8.4 Stock Adjustments
Database Support Team Buyback / Returns (handout)
Database Support Team DST Documentation
Database Support Team Open Discussion – Discrepancies Corp – Pricing NonCorp – Pricing Corp Shipping NonCorp Shipping
Database Support Team Dropships
Database Support Team Z95 ITEMS