database support team
DESCRIPTION
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. - PowerPoint PPT PresentationTRANSCRIPT
Database Support Team
Advanced Accounting
2005
Database Support Team
2 Favorite Menu Paths:
4.1.9
19.7b
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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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Accuterm settings
If users available – multiple ports
Turn on Scroll Bar
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Menu 13.20
New Accounts Payable – Vouchering
(handouts)
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Reoccurring Vouchers
Enter 13.20.8
Listing 13.20.9
Update 13.20.10
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EFTs
Journal EntriesEFT function
Checks
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Inventory Reconciliation
(handouts)
Detail
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Summary
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Impact General Ledger (Summary)? YES NO
Receive in Inventory XVoucher/Accounts Payable XMonth End Journal Entries X
Summary
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Impact General Ledger (Detail)? YES NO
Receive in Inventory XVoucher/Accounts Payable XMonth End Journal Entries X
Detail
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Average Cost
QOH x Average Cost
PLUS
Difference on Invoice vs. PO
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QOH
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QOH = 10
Average Cost = $14.00ea
PO = 10 @ $14.00ea
Vendor Invoice = 10 @ $12ea
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Average Cost
QOH x Average Cost (10 * $14)
PLUS
Difference on Invoice vs. PO (10*$12) – (10*14)
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QOH (10)
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Average Cost
140
PLUS
-20
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10
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Average Cost
120/10 = New Average Cost
$12 each
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Voucher Widget for $100 / Billed $100
Inventory Accounts Payable
100.00 100.00
Detail
Summary
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Voucher Widget for $100 / Bill for $125 / No QOH
Inventory Accounts Payable
100.00 125.00Summary
PPV
25.00
Detail
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Voucher Widget for $100 / Bill for $125 / QOH
Inventory Accounts Payable
125.00 125.00Summary
Average Cost of product is updated
Detail
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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
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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
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13.20.2 versus 13.20.3
•Inventory Evaluation
•CORP Discrepancies
•Only works on DC invoices
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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
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Other Things to Consider….
Re-opening POs
Warranty’s Impact
Dropships
Store Returns
Stock Adjustments
Buyback
Non-Inventory Items (Z95 items)
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Reopening ReceiversSTOP!
If you do it – have to reopen the first & only receiver on the PO
OR
It throws out your AP/GL Reconciliation
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Costing
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SRO/RGA
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Open Discussion – Discrepancies
Corp – PricingNonCorp – Pricing
Corp ShippingNonCorp Shipping
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Menu 15
Warranty
(handouts)
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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
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EOM Balancing
•Unclaimed Warranties•Claimed Warranties – AR
•Inventory?
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Menu 8.4
Stock Adjustments
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Buyback / Returns
(handout)
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DST Documentation
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Open Discussion – Discrepancies
Corp – PricingNonCorp – Pricing
Corp ShippingNonCorp Shipping
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Dropships
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Z95 ITEMS
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Open Discussion – Discrepancies
Receiving?$0 Cost
Co-Op FundInvoice/Stock Adjusment
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Physical Inventory
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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.
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Menu 11
Sales Analysis
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Reporting Variances
Different Sales files capture different things*Customer detail file
Variances*Freight*Misc Charges*Branch Sales*Returns
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LIVE EXAMPLE 12.2.2.2
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Menu 2
Accounting Reports
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Menu 13.3
Accounting Reports
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Bank Reconciliation
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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
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Menu 14
General Ledger
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Set-up a GL account
12.4.3
14.1.1
Add to financial statements
LIVE EXAMPLE
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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
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EOY Close
(handout)
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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
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Intercompany Accounting
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Open Discussion – Multi-Stores
ARInventory Transfers
General Ledger
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Menu 28.
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Menu 28
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Menu 4.3
Service Charges
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FAQs
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Questions
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Upgrades Pending
2005.2
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Upgrade Suggestions
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Session Evaluations
&
Conference Evaluations
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THANK YOU!