hello friends...please read my status and just say right or wrong...
my company imports( purchases) products from abroad and sell inside ,.. both wholesell and retail.... simply importing and selling
1. we have two incomes...
1.1 product sells::: in the sales order window... using pos for cash and credit .. for cash...invoice and shipment customers and cash jornal are generated automatically and i complete all. for credit order shipment and invoice is generated .. so that i go to payment window and generate AR payment from the AR invoice Indirect generated and i complete and post AR payment...
1.2 Maintenance revenue::: i use the AR invoice and generate cash jornal .. use the charge instead of the product line in the invoice line tab...
2. about our expenses
2.1 i create business partner and product and product list as well..
2.2 i use purchasing window to enter the purchasing of products..... after that i create MM Receipt from the purchase order and generate AP invoice vendor... after completing and posting all...the inventory is adjusted..... the i use payment window to process the AP payment .. then allocation is created...
2.3 for my all expenses (like telephone/electricity..) i use invoice vendor and payment window..
2.4 my costing method is standard costing... and there is a bank statement ... i will reconcil the payments with that bank statement...
that was it.... i am just computer science graduate.. no info on accounting before.. am i right... since i am working this on the Gaden World and want to start on our real client...
i am using 2.5.3. b.. and the accounting is accural based accounting .. in the accounting schema... is there any thing i missed or left...
**** i know that reading all this makes you tired but .. your answer means a lot for me...
GOD Bless you...
A few feedback
1.1 -> OK
1.2 -> ? What is maintenance revenue, if it is a service then you can create a product type of service and then create the sales order just as with the usual stock products
2.1 -> OK
2.2 -> OK
2.3 -> OK
2.4 -> OK
So far so good, those would be my comments, let me know if I can be of further help
Enrique Ruibal .. thanks for your fast response..
as i told u, i use standard costing method and i enter every expences. And i enter prices of each product manually.
E.g, for product X: PO price=$3... after analysing the expence for all product X and subtracting.. dividing.. manually, i assign standard price for product X=$4... am i logically right? is that the concept of standard costing?
.. and when i say maintenance revenue.. to mean we maintain some electronics and earn money... may be i will do like you said..
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