AR clearing after Invoice

Yahoo Archive
1
The sales journal is probably going to reflect the movement out of
clearing to COS. Know different then the A/P side and the purchase
journal showing your offset for your po clearing account. You don't see
the receipt and the invoice on the Inventory/Wip receconciliation report
you only see the receipt.

Jim

________________________________

From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf
Of Michael McWilliams
Sent: Thursday, October 16, 2008 3:14 PM
To: vantage@yahoogroups.com
Subject: [Vantage] Re:AR clearing after Invoice.



I am not seeing any of that happening in the INventory WIP
reconciliaion report. I am wondering if they set up some wrong
accounts. Here is everything for the test job we are using we
have shipped invoiced and posted...HMM

00-1201-000 0.00 10,152.90 INventory - Raw Material
00-1202-000 10,161.66 10,161.60 Inventory F/G & WIP
00-4500-030 0.00 7.26 Applied Burden(Overhead)
01-1101-000 10,161.60 0.00 Accounts Receivable clearing
01-4110-010 0.00 1.50 Applied Labor

--- In vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com> ,
"Claudia Stone" <cstone@...> wrote:
>
>
>
<http://groups.yahoo.com/group/vantage/message/69795;_ylc=X3oDMTJwOHF
<http://groups.yahoo.com/group/vantage/message/69795;_ylc=X3oDMTJwOHF>
zdDBvBF
>
9TAzk3MzU5NzE1BGdycElkAzIwMzY5BGdycHNwSWQDMTcwNTAwNzE4MQRtc2dJZAM2OTc
5NQRzZW
> MDZG1zZwRzbGsDdm1zZwRzdGltZQMxMjI0MTg0NTcw> AR clearing after
Invoice.
>
> Posted by: "Michael McWilliams"
> <mailto:mmcwilliams22@...?Subject=%20Re%3AAR%20clearing%20after%
20Invo
> ice%2E> mmcwilliams22@...
<http://profiles.yahoo.com/mmcwilliams22
<http://profiles.yahoo.com/mmcwilliams22> >
> mmcwilliams22
>
> Thu Oct 16, 2008 9:28 am (PDT)
>
> What is the offset to AR/Clearing when you Invoice? We are not
> seeing it in the Inventory/WIP reconciliation after we post the
Invoice.
> We think it is COS but we are not seeing it on the report. Are we
> missing something?
>
> If you ship from the Job to the Customer MFG-CUS, then COS is the
off-set to
> WIP. CR WIP DR COS..however if you ship from Inventory to the
Customer
> STK-CUS, then COS does not get hit. The Accounting is CR Finished
Goods
> Inventory and DR AR Clearing. When Invoicing takes place, the
Accounting
> is CR Revenue DR AR Clearing.
>
>
>
> HTH,
>
>
>
> Claudia Stone
> Aspacia Systems Inc
>
>
>
>
>
>
>
>
>
> [Non-text portions of this message have been removed]
>






[Non-text portions of this message have been removed]
2
What is the offset to AR/Clearing when you Invoice? We are not
seeing it in the Inventory/WIP reconciliation after we post the Invoice.
We think it is COS but we are not seeing it on the report. Are we
missing something?
3
Good Morning Everyone,



I work for a Manufacturing company that occasionally has vendor supplied
parts that goes into our assemblies. I was wondering if anyone else had
this and how they handled it. Do you put them on your boms? If so how
do you handing purchasing suggestions? If not how do you keep track of
them to get them to manufacturing. How do you look them up when the
customer calls in for warranty?



Thanks!





Dale



[Non-text portions of this message have been removed]
4
<http://groups.yahoo.com/group/vantage/message/69795;_ylc=X3oDMTJwOHFzdDBvBF
9TAzk3MzU5NzE1BGdycElkAzIwMzY5BGdycHNwSWQDMTcwNTAwNzE4MQRtc2dJZAM2OTc5NQRzZW
MDZG1zZwRzbGsDdm1zZwRzdGltZQMxMjI0MTg0NTcw> AR clearing after Invoice.

Posted by: "Michael McWilliams"
<mailto:mmcwilliams22@...?Subject=%20Re%3AAR%20clearing%20after%20Invo
ice%2E> mmcwilliams22@... <http://profiles.yahoo.com/mmcwilliams22>
mmcwilliams22

Thu Oct 16, 2008 9:28 am (PDT)

What is the offset to AR/Clearing when you Invoice? We are not
seeing it in the Inventory/WIP reconciliation after we post the Invoice.
We think it is COS but we are not seeing it on the report. Are we
missing something?

If you ship from the Job to the Customer MFG-CUS, then COS is the off-set to
WIP. CR WIP DR COS..however if you ship from Inventory to the Customer
STK-CUS, then COS does not get hit. The Accounting is CR Finished Goods
Inventory and DR AR Clearing. When Invoicing takes place, the Accounting
is CR Revenue DR AR Clearing.



HTH,



Claudia Stone
Aspacia Systems Inc









[Non-text portions of this message have been removed]
5
I am not seeing any of that happening in the INventory WIP
reconciliaion report. I am wondering if they set up some wrong
accounts. Here is everything for the test job we are using we
have shipped invoiced and posted...HMM

00-1201-000 0.00 10,152.90 INventory - Raw Material
00-1202-000 10,161.66 10,161.60 Inventory F/G & WIP
00-4500-030 0.00 7.26 Applied Burden(Overhead)
01-1101-000 10,161.60 0.00 Accounts Receivable clearing
01-4110-010 0.00 1.50 Applied Labor

--- In vantage@yahoogroups.com, "Claudia Stone" <cstone@...> wrote:
>
>
>
<http://groups.yahoo.com/group/vantage/message/69795;_ylc=X3oDMTJwOHF
zdDBvBF
>
9TAzk3MzU5NzE1BGdycElkAzIwMzY5BGdycHNwSWQDMTcwNTAwNzE4MQRtc2dJZAM2OTc
5NQRzZW
> MDZG1zZwRzbGsDdm1zZwRzdGltZQMxMjI0MTg0NTcw> AR clearing after
Invoice.
>
> Posted by: "Michael McWilliams"
> <mailto:mmcwilliams22@...?Subject=%20Re%3AAR%20clearing%20after%
20Invo
> ice%2E> mmcwilliams22@...
<http://profiles.yahoo.com/mmcwilliams22>
> mmcwilliams22
>
> Thu Oct 16, 2008 9:28 am (PDT)
>
> What is the offset to AR/Clearing when you Invoice? We are not
> seeing it in the Inventory/WIP reconciliation after we post the
Invoice.
> We think it is COS but we are not seeing it on the report. Are we
> missing something?
>
> If you ship from the Job to the Customer MFG-CUS, then COS is the
off-set to
> WIP. CR WIP DR COS..however if you ship from Inventory to the
Customer
> STK-CUS, then COS does not get hit. The Accounting is CR Finished
Goods
> Inventory and DR AR Clearing. When Invoicing takes place, the
Accounting
> is CR Revenue DR AR Clearing.
>
>
>
> HTH,
>
>
>
> Claudia Stone
> Aspacia Systems Inc
>
>
>
>
>
>
>
>
>
> [Non-text portions of this message have been removed]
>