Database Support Team

Advanced Accounting

2 Favorite Menu Paths:

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

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

Difference on Invoice vs. PO

_________________________________

QOH = 10

Average Cost = $14.00ea

PO = 10 @ $14.00ea

Vendor Invoice = 10 @ $12ea

Average Cost

QOH x Average Cost (10 * $14)

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

_________________________________

QOH (10)

Average Cost

_________________________________

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

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

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

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

Questions

Upgrades Pending

2005.2

Upgrade Suggestions

Session Evaluations

Conference Evaluations

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