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From: David B. <dav...@sb...> - 2009-06-01 21:14:56
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Inventory value does not increase until you book a vendor invoice against the PO. On Mon, 2009-06-01 at 14:03 -0700, je...@ix... wrote: > This is a strange situation. > > We created a purchase order for some product. Today we received the > product. > I see that our quantity received, has increased by the correct amount, > however the value of our inventory has not changed. The PO is currently > open. > > Why would my inventory value not increase? > > > The part looks correctly setup, inventory to the inventory account, income > to our sales account, and expense to cost of goods sold expense account. > > > Jeff > > > ------------------------------------------------------------------------------ > OpenSolaris 2009.06 is a cutting edge operating system for enterprises > looking to deploy the next generation of Solaris that includes the latest > innovations from Sun and the OpenSource community. Download a copy and > enjoy capabilities such as Networking, Storage and Virtualization. > Go to: http://p.sf.net/sfu/opensolaris-get > _______________________________________________ > sql-ledger-users mailing list > sql...@li... > https://lists.sourceforge.net/lists/listinfo/sql-ledger-users |
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From: <je...@ix...> - 2009-06-01 21:32:06
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It should though, my exact situation was we received the product on the last day of May, and the invoice from our vendor hasn't arrived in the mail yet. What do I do with my Balance Sheet? My inventory is understated by 150k at least. Jeff On Mon, 01 Jun 2009 21:14:28 +0000, David Boyle <dav...@sb...> wrote: > Inventory value does not increase until you book a vendor invoice > against the PO. > > On Mon, 2009-06-01 at 14:03 -0700, je...@ix... wrote: >> This is a strange situation. >> >> We created a purchase order for some product. Today we received the >> product. >> I see that our quantity received, has increased by the correct amount, >> however the value of our inventory has not changed. The PO is currently >> open. >> >> Why would my inventory value not increase? >> >> >> The part looks correctly setup, inventory to the inventory account, > income >> to our sales account, and expense to cost of goods sold expense account. >> >> >> Jeff >> >> >> > ------------------------------------------------------------------------------ >> OpenSolaris 2009.06 is a cutting edge operating system for enterprises >> looking to deploy the next generation of Solaris that includes the > latest >> innovations from Sun and the OpenSource community. Download a copy and >> enjoy capabilities such as Networking, Storage and Virtualization. >> Go to: http://p.sf.net/sfu/opensolaris-get >> _______________________________________________ >> sql-ledger-users mailing list >> sql...@li... >> https://lists.sourceforge.net/lists/listinfo/sql-ledger-users > > > ------------------------------------------------------------------------------ > OpenSolaris 2009.06 is a cutting edge operating system for enterprises > looking to deploy the next generation of Solaris that includes the latest > innovations from Sun and the OpenSource community. Download a copy and > enjoy capabilities such as Networking, Storage and Virtualization. > Go to: http://p.sf.net/sfu/opensolaris-get > _______________________________________________ > sql-ledger-users mailing list > sql...@li... > https://lists.sourceforge.net/lists/listinfo/sql-ledger-users |
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From: Michael H. <mh...@it...> - 2009-06-02 00:06:02
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When you receive the part(s) you enter them into the PO as received.
If the entire order was received the PO will close itself and a
vendor invoice will be created.
If it was a partial order a vendor invoice will be created in the
amount that was received and the PO will close and recreate itself
for whatever is still waiting delivery.
Either way the key is getting your received goods punched into
the PO and posted, the rest is automatic. ("Try it! You'll like
it!" :)
Thanks,
Michael
On Jun 1, 2009, at 2:31 PM, <je...@ix...> wrote:
It should though, my exact situation was we received the product on the
last day of May, and the invoice from our vendor hasn't arrived in
the mail
yet. What do I do with my Balance Sheet? My inventory is understated by
150k at least.
Jeff
On Mon, 01 Jun 2009 21:14:28 +0000, David Boyle <david-
bo...@sb...>
wrote:
> Inventory value does not increase until you book a vendor invoice
> against the PO.
>
> On Mon, 2009-06-01 at 14:03 -0700, je...@ix... wrote:
>> This is a strange situation.
>>
>> We created a purchase order for some product. Today we received the
>> product.
>> I see that our quantity received, has increased by the correct
>> amount,
>> however the value of our inventory has not changed. The PO is
>> currently
>> open.
>>
>> Why would my inventory value not increase?
>>
>>
>> The part looks correctly setup, inventory to the inventory account,
> income
>> to our sales account, and expense to cost of goods sold expense
>> account.
>>
>>
>> Jeff
>>
>>
>>
>
------------------------------------------------------------------------
------
>> OpenSolaris 2009.06 is a cutting edge operating system for
>> enterprises
>> looking to deploy the next generation of Solaris that includes the
> latest
>> innovations from Sun and the OpenSource community. Download a copy
>> and
>> enjoy capabilities such as Networking, Storage and Virtualization.
>> Go to: http://p.sf.net/sfu/opensolaris-get
>> _______________________________________________
>> sql-ledger-users mailing list
>> sql...@li...
>> https://lists.sourceforge.net/lists/listinfo/sql-ledger-users
>
>
>
------------------------------------------------------------------------
------
> OpenSolaris 2009.06 is a cutting edge operating system for enterprises
> looking to deploy the next generation of Solaris that includes the
> latest
> innovations from Sun and the OpenSource community. Download a copy and
> enjoy capabilities such as Networking, Storage and Virtualization.
> Go to: http://p.sf.net/sfu/opensolaris-get
> _______________________________________________
> sql-ledger-users mailing list
> sql...@li...
> https://lists.sourceforge.net/lists/listinfo/sql-ledger-users
------------------------------------------------------------------------
------
OpenSolaris 2009.06 is a cutting edge operating system for enterprises
looking to deploy the next generation of Solaris that includes the
latest
innovations from Sun and the OpenSource community. Download a copy and
enjoy capabilities such as Networking, Storage and Virtualization.
Go to: http://p.sf.net/sfu/opensolaris-get
_______________________________________________
sql-ledger-users mailing list
sql...@li...
https://lists.sourceforge.net/lists/listinfo/sql-ledger-users
|
|
From: David B. <dav...@sb...> - 2009-06-02 12:50:08
|
It's been my experience that this is how accrual accounting systems work. I have no experience with cash accounting systems. When I am preparing my "Month End" figures, I perform what I consider an "Open Receiving Report" which calculates the value of what has been received but has not had a vendor invoice booked against it. Run an Inventory Valuation report (all items or parts, line totals and what not)...this figure minus the open receiving value should equal your balance sheet inventory. If it does not an adjustment may be in order. David Boyle On Mon, 2009-06-01 at 14:31 -0700, je...@ix... wrote: > It should though, my exact situation was we received the product on the > last day of May, and the invoice from our vendor hasn't arrived in the mail > yet. What do I do with my Balance Sheet? My inventory is understated by > 150k at least. > > Jeff > > > On Mon, 01 Jun 2009 21:14:28 +0000, David Boyle <dav...@sb...> > wrote: > > Inventory value does not increase until you book a vendor invoice > > against the PO. > > > > On Mon, 2009-06-01 at 14:03 -0700, je...@ix... wrote: > >> This is a strange situation. > >> > >> We created a purchase order for some product. Today we received the > >> product. > >> I see that our quantity received, has increased by the correct amount, > >> however the value of our inventory has not changed. The PO is currently > >> open. > >> > >> Why would my inventory value not increase? > >> > >> > >> The part looks correctly setup, inventory to the inventory account, > > income > >> to our sales account, and expense to cost of goods sold expense account. > >> > >> > >> Jeff > >> > >> > >> > > > ------------------------------------------------------------------------------ > >> OpenSolaris 2009.06 is a cutting edge operating system for enterprises > >> looking to deploy the next generation of Solaris that includes the > > latest > >> innovations from Sun and the OpenSource community. Download a copy and > >> enjoy capabilities such as Networking, Storage and Virtualization. > >> Go to: http://p.sf.net/sfu/opensolaris-get > >> _______________________________________________ > >> sql-ledger-users mailing list > >> sql...@li... > >> https://lists.sourceforge.net/lists/listinfo/sql-ledger-users > > > > > > > ------------------------------------------------------------------------------ > > OpenSolaris 2009.06 is a cutting edge operating system for enterprises > > looking to deploy the next generation of Solaris that includes the latest > > innovations from Sun and the OpenSource community. Download a copy and > > enjoy capabilities such as Networking, Storage and Virtualization. > > Go to: http://p.sf.net/sfu/opensolaris-get > > _______________________________________________ > > sql-ledger-users mailing list > > sql...@li... > > https://lists.sourceforge.net/lists/listinfo/sql-ledger-users > > > ------------------------------------------------------------------------------ > OpenSolaris 2009.06 is a cutting edge operating system for enterprises > looking to deploy the next generation of Solaris that includes the latest > innovations from Sun and the OpenSource community. Download a copy and > enjoy capabilities such as Networking, Storage and Virtualization. > Go to: http://p.sf.net/sfu/opensolaris-get > _______________________________________________ > sql-ledger-users mailing list > sql...@li... > https://lists.sourceforge.net/lists/listinfo/sql-ledger-users |
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From: Rich S. <rsh...@ap...> - 2009-06-02 15:36:14
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On Tue, 2 Jun 2009, Yves Lavoie ing. wrote: > Non-billable hours cannot be charged but they must be paid to employees. > How do you manage this? Yves, I have services and expenses as inventory items. In your case I would create a non-billable service and use that to create the proper payment. Rich -- Richard B. Shepard, Ph.D. | Integrity Credibility Applied Ecosystem Services, Inc. | Innovation <http://www.appl-ecosys.com> Voice: 503-667-4517 Fax: 503-667-8863 |
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From: Yves L. ing. <yve...@gm...> - 2009-06-03 18:26:31
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On 09-06-02 11:35 AM, Rich Shepard wrote: >> Non-billable hours cannot be charged but they must be paid to employees. >> How do you manage this?Yves, > I have services and expenses as inventory items. In your case I would > create a non-billable service and use that to create the proper payment. > Thanks, I'll look into that and will keep you posted. Yves |
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From: Yves L. ing. <yve...@gm...> - 2009-06-02 14:53:19
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Hi All, Non-billable hours cannot be charged but they must be paid to employees. How do you manage this? Using a dedicated project with non-billable hours was my first try, but currently there is no way to retrieve the hours entered in the db. The 2 owners have spent, and still do, many hours structuring the compagny, doing administrative tasks,... This is a debt for the company and those should be paid somewhen. How can I do this? Thanks, Yves Lavoie |
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From: Michael H. <mh...@it...> - 2009-06-03 18:35:12
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Another way to do it is treat them as contractors and set them up as vendors. Thanks, Michael Hasse Itwerx 206-850-1496 http://www.itwerx.net/ ********************************** If our service is not 100% satisfactory please tell us! If it is 100% please tell others! ********************************** On Jun 3, 2009, at 11:26 AM, Yves Lavoie ing. wrote: On 09-06-02 11:35 AM, Rich Shepard wrote: >> Non-billable hours cannot be charged but they must be paid to >> employees. >> How do you manage this?Yves, > I have services and expenses as inventory items. In your case I > would > create a non-billable service and use that to create the proper > payment. > Thanks, I'll look into that and will keep you posted. Yves ------------------------------------------------------------------------ ------ OpenSolaris 2009.06 is a cutting edge operating system for enterprises looking to deploy the next generation of Solaris that includes the latest innovations from Sun and the OpenSource community. Download a copy and enjoy capabilities such as Networking, Storage and Virtualization. Go to: http://p.sf.net/sfu/opensolaris-get _______________________________________________ sql-ledger-users mailing list sql...@li... https://lists.sourceforge.net/lists/listinfo/sql-ledger-users |
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From: Rich S. <rsh...@ap...> - 2009-06-03 18:45:42
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On Wed, 3 Jun 2009, Michael Hasse wrote: > Another way to do it is treat them as contractors and set them up as > vendors. Michael, Their accountant might not like that. Employment taxes and other issues suggest they ought to be consistently treated as employees with different remuneration types. However, IANAA. Rich -- Richard B. Shepard, Ph.D. | Integrity Credibility Applied Ecosystem Services, Inc. | Innovation <http://www.appl-ecosys.com> Voice: 503-667-4517 Fax: 503-667-8863 |
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From: Jeff R. <je...@jr...> - 2009-06-03 19:06:46
|
Hello I have all my employees set up as vendors. I still deduct the proper taxes and such when I pay them I just put their wages on one line and select a wage expense account then on the next lines I enter negative amounts to deduct the pension, unemployment Insurance and taxes and choose liability accounts named "Payable". I end up with a a bottom line for the employee that I can print a cheque for and at remittance time I just print a report of the three liability accounts and pay whatever has accumulated there to the government. Here's a typical employee "AP Transaction", you can add anything you want into it. Amount Account Description 997.07 Notes Payroll Jeff Rich Shepard wrote: > On Wed, 3 Jun 2009, Michael Hasse wrote: > > >> Another way to do it is treat them as contractors and set them up as >> vendors. >> > > Michael, > > Their accountant might not like that. Employment taxes and other issues > suggest they ought to be consistently treated as employees with different > remuneration types. > > However, IANAA. > > Rich > > |
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From: Michael H. <mh...@it...> - 2009-06-03 21:22:07
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All that can still be factored in according to the service accounts,
it's just a work-around for SL not having an HR module. It's still
the same financial transactions taking place just that having an
associated vendor makes some of the reporting a little easier, (less
human error potential!). As long as the appropriate accounts get
credited/debited along the way the accountant can still get the right
reports/numbers and everybody is happy.
Thanks,
Michael
On Jun 3, 2009, at 11:45 AM, Rich Shepard wrote:
On Wed, 3 Jun 2009, Michael Hasse wrote:
> Another way to do it is treat them as contractors and set them up as
> vendors.
Michael,
Their accountant might not like that. Employment taxes and other
issues
suggest they ought to be consistently treated as employees with
different
remuneration types.
However, IANAA.
Rich
--
Richard B. Shepard, Ph.D. | Integrity
Credibility
Applied Ecosystem Services, Inc. | Innovation
<http://www.appl-ecosys.com> Voice: 503-667-4517 Fax:
503-667-8863
------------------------------------------------------------------------
------
OpenSolaris 2009.06 is a cutting edge operating system for enterprises
looking to deploy the next generation of Solaris that includes the
latest
innovations from Sun and the OpenSource community. Download a copy and
enjoy capabilities such as Networking, Storage and Virtualization.
Go to: http://p.sf.net/sfu/opensolaris-get
_______________________________________________
sql-ledger-users mailing list
sql...@li...
https://lists.sourceforge.net/lists/listinfo/sql-ledger-users
|
|
From: <je...@ix...> - 2009-06-11 23:47:24
|
Hey guess what? It does work properly. Nowadays you must enter the start date and end date of the reconciliation period (i.e. 05/01/2009 to 05/31/2009), then reconcile as normal, then to test to make sure past items do not appear, to another reconciliation... so I put in june 1st to june 6th... and no past reconciled items showed... obviously i cancelled this test reconcilation. Jeff General Accounting Manager IX Systems On Tue, 12 May 2009 15:30:17 -0700, <je...@ix...> wrote: > > > I do bank reconcilations every month and for 6yrs I've never had an > issue. This month I pull up the reconcilation screen, and its showing > items that are reconciled. I try to limit the date range... 04/01/09 > to 04/30/09, and I have items that are reconciled showing up from Feb > and Mar, they even have the check mark in the reconcilation column. My > beginning balance is not the amount that I reconciled to in the > previous month, and when I put in the previous months ending balance > and hit update, it shows 0.00 difference. I hit done. I've closed the > system, got back in and.... its stilll showing me everything thats > been reconciled. > Is there something in the system that I need to change? preferences > or something? I've never had this come up before. We did upgrade from > 2.61 to 2.8.23 early last month. > Thanks > Jeff > > General Accounting Manager > > IX Systems > ------------------------------------------------------------------------------ > The NEW KODAK i700 Series Scanners deliver under ANY circumstances! Your > production scanning environment may not be a perfect world - but thanks to > Kodak, there's a perfect scanner to get the job done! With the NEW KODAK > i700 > Series Scanner you'll get full speed at 300 dpi even with all image > processing features enabled. http://p.sf.net/sfu/kodak-com > _______________________________________________ > sql-ledger-users mailing list > sql...@li... > https://lists.sourceforge.net/lists/listinfo/sql-ledger-users |
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From: Sarah B. <sa...@sa...> - 2009-06-11 23:58:00
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This has been bothering me for ages!! Thank you so much for explaining Jeff. Best, Bird On Fri, Jun 12, 2009 at 5:47 AM, <je...@ix...> wrote: > Hey guess what? It does work properly. > > Nowadays you must enter the start date and end date of the reconciliation > period (i.e. 05/01/2009 to 05/31/2009), then reconcile as normal, then to > test to make sure past items do not appear, to another reconciliation... so > I put in june 1st to june 6th... and no past reconciled items showed... > obviously i cancelled this test reconcilation. > > Jeff > General Accounting Manager > IX Systems > > On Tue, 12 May 2009 15:30:17 -0700, <je...@ix...> wrote: > > > > > > I do bank reconcilations every month and for 6yrs I've never had an > > issue. This month I pull up the reconcilation screen, and its showing > > items that are reconciled. I try to limit the date range... 04/01/09 > > to 04/30/09, and I have items that are reconciled showing up from Feb > > and Mar, they even have the check mark in the reconcilation column. My > > beginning balance is not the amount that I reconciled to in the > > previous month, and when I put in the previous months ending balance > > and hit update, it shows 0.00 difference. I hit done. I've closed the > > system, got back in and.... its stilll showing me everything thats > > been reconciled. > > Is there something in the system that I need to change? preferences > > or something? I've never had this come up before. We did upgrade from > > 2.61 to 2.8.23 early last month. > > Thanks > > Jeff > > > > General Accounting Manager > > > > IX Systems > > > > ------------------------------------------------------------------------------ > > The NEW KODAK i700 Series Scanners deliver under ANY circumstances! Your > > production scanning environment may not be a perfect world - but thanks > to > > Kodak, there's a perfect scanner to get the job done! With the NEW KODAK > > i700 > > Series Scanner you'll get full speed at 300 dpi even with all image > > processing features enabled. http://p.sf.net/sfu/kodak-com > > _______________________________________________ > > sql-ledger-users mailing list > > sql...@li... > > https://lists.sourceforge.net/lists/listinfo/sql-ledger-users > > > > ------------------------------------------------------------------------------ > Crystal Reports - New Free Runtime and 30 Day Trial > Check out the new simplified licensing option that enables unlimited > royalty-free distribution of the report engine for externally facing > server and web deployment. > http://p.sf.net/sfu/businessobjects > _______________________________________________ > sql-ledger-users mailing list > sql...@li... > https://lists.sourceforge.net/lists/listinfo/sql-ledger-users > |
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