Database Support Team

Database Support Team

Advanced Accounting

2005


2 Favorite Menu Paths:

4.1.9

19.7b


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


Accuterm settings

If users available – multiple ports

Turn on Scroll Bar


Menu 13.20

New Accounts Payable – Vouchering

(handouts)




Reoccurring Vouchers

Enter 13.20.8

Listing 13.20.9

Update 13.20.10


EFTs

Journal EntriesEFT function

Checks


Inventory Reconciliation

(handouts)

Detail


Summary


Impact General Ledger (Summary)? YES NO

Receive in Inventory XVoucher/Accounts Payable XMonth End Journal Entries X

Summary


Impact General Ledger (Detail)? YES NO

Receive in Inventory XVoucher/Accounts Payable XMonth End Journal Entries X

Detail


Average Cost

QOH x Average Cost

PLUS

Difference on Invoice vs. PO

_________________________________

QOH


QOH = 10

Average Cost = $14.00ea

PO = 10 @ $14.00ea

Vendor Invoice = 10 @ $12ea


Average Cost

QOH x Average Cost (10 * $14)

PLUS

Difference on Invoice vs. PO (10*$12) – (10*14)

_________________________________

QOH (10)


Average Cost

140

PLUS

-20

_________________________________

10


Average Cost

120/10 = New Average Cost

$12 each


Voucher Widget for $100 / Billed $100

Inventory Accounts Payable

100.00 100.00

Detail

Summary


Voucher Widget for $100 / Bill for $125 / No QOH


100.00 125.00Summary

PPV

25.00

Detail


Voucher Widget for $100 / Bill for $125 / QOH


125.00 125.00Summary

Average Cost of product is updated

Detail


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


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


13.20.2 versus 13.20.3

•Inventory Evaluation

•CORP Discrepancies

•Only works on DC invoices



PO – ordered/received 4 @$23.81Invoice 4 @ $29.071QOH = 5Curr 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


Other Things to Consider….

Re-opening POs

Warranty’s Impact

Dropships

Store Returns

Stock Adjustments

Buyback

Non-Inventory Items (Z95 items)


Reopening ReceiversSTOP!

If you do it – have to reopen the first & only receiver on the PO

OR

It throws out your AP/GL Reconciliation



Costing





SRO/RGA


Open Discussion – Discrepancies

Corp – PricingNonCorp – Pricing

Corp ShippingNonCorp Shipping


Menu 15

Warranty

(handouts)


1 Credit Memo (m1.2) 10 12 12 10

2 Warranty Update (ME) 10 10

3 Create Claim (m15.3) 10 10

CREDIT REC'D

4 Post Credit-Claim (m15.10) 15 15

5 Voucher Credit (m13.20.1) 25 25

RECEVING

4 Replacement (m15.11) 10 10

Inven Sales A/R COGS Warr Pend Warr A/R Warr Discrep A/P

WidgetAvg. cost = $10Sale Price = $12Credit from Vendor = $25


EOM Balancing

•Unclaimed Warranties•Claimed Warranties – AR

•Inventory?


Menu 8.4

Stock Adjustments





Buyback / Returns

(handout)


DST Documentation



Corp – PricingNonCorp – Pricing

Corp ShippingNonCorp Shipping


Dropships





Z95 ITEMS



Receiving?$0 Cost

Co-Op FundInvoice/Stock Adjusment


Physical Inventory


Be sure to make note of the final variance amount that you update since you will need to make the journal entry on the books to balance the detail to the summary. You

hit inventory and an income statement account with this variance amount.


Menu 11

Sales Analysis


Reporting Variances

Different Sales files capture different things*Customer detail file

Variances*Freight*Misc Charges*Branch Sales*Returns


LIVE EXAMPLE 12.2.2.2


Menu 2

Accounting Reports



Menu 13.3

Accounting Reports



Bank Reconciliation


Bank Reconciliation

8. Activity Report – Summary of Deposits, Disbursements, Adjustments and Journal Entries

9. Reconciliation Entry – Input of Checks cleared on last bank statement. Enter as a range or individually.

10. Reconciliation Listing – Itemization of checks entered in 13.20.9 as well as outstanding checks and outstanding checks greater than 90 days.

Bank Rec Documentation


Menu 14

General Ledger


Set-up a GL account

12.4.3

14.1.1

Add to financial statements

LIVE EXAMPLE




Creating a Journal Entry

1. Enter JE 14.1.3 or 14.1.4

2. Print & Review JE 14.1.13 & 14.1.14

3. Update Trial Balance 14.2.4





















EOY Close

(handout)


1.AR Month-end close rolls into Year End*Confirm with DST

2.Close 12th month AP

3.Close year AP*MUST happen before entries for new year

4.Close 12th month GL*Manually Rollover NI

5.Close year GL *NO 13th month


Intercompany Accounting


Open Discussion – Multi-Stores

ARInventory Transfers

General Ledger


Menu 28.


Menu 28


Menu 4.3

Service Charges



FAQs


Questions


Upgrades Pending

2005.2


Upgrade Suggestions


Session Evaluations

&

Conference Evaluations


THANK YOU!

Database Support Team

Documents

bdatabase support teamftcreate

qohdatabase support

new average cost

inventory value

summaryaverage cost

curr avg cost

eavendor invoice

run menu