Handling Invoiced Shipments

We do this occasionally. We have an old manual system we keep around
for special cases such as this. Basically, we write them up on a manual
form and quantity adjust the inventory out. Pretty archaic, but
eliminates the zero $$ invoices.

Bruce Butler, IT Manager
Knappe & Koester
18 Bradco St
Keene, NH 03431
bbutler@...
p.603.355.1166
f. 603.355.2266

Message: 3
Date: Fri, 5 Nov 2004 10:34:05 -0500
From: "PLAMAN DICK" <dick.plaman@...>
Subject: Handling Invoiced Shipments

Dear MfgSyser's,
Do we have any pioneers who have a similar situation where we produce a
product for a customer and send a partial to them, and warehouse the
balance. When the product comes out of production the entire order is
invoiced, even tho we only send them a partial. When we send the
balance, we are creating a zero $ invoice. Is there a way of sending the
balance without creating the zero $ invoice?

kind regards,



[Non-text portions of this message have been removed]
Dear MfgSyser's,
Do we have any pioneers who have a similar situation where we produce a
product for a customer and
send a partial to them, and warehouse the balance. When the product
comes out of production the entire order
is invoiced, even tho we only send them a partial. When we send the
balance, we are creating a zero $ invoice.
Is there a way of sending the balance without creating the zero $
invoice?

kind regards,



[Non-text portions of this message have been removed]
Just curious, why do you not ship all the product if the customer is willing to be invoiced for all the product? also, how long is this product on your shelf and does this cause inventory control and balance issues. My first thought is that this is not good accounting practice. Inventory balance would be off and Sales are not accurate. Just curious?


To respond to your question:

How are you invoicing the full balance.....
1- Shipping ALL pcs on the Packing Slip and then processing the invoice?

OR
2-Shipping a partial on the Packing Slip and then adjusting the invoice to make it look like you shipped all the pcs?





-----Original Message-----
From: PLAMAN DICK [mailto:dick.plaman@...]
Sent: Friday, November 05, 2004 10:34 AM
To: vantage@yahoogroups.com
Subject: [Vantage] Handling Invoiced Shipments


Dear MfgSyser's,
Do we have any pioneers who have a similar situation where we produce a
product for a customer and
send a partial to them, and warehouse the balance. When the product
comes out of production the entire order
is invoiced, even tho we only send them a partial. When we send the
balance, we are creating a zero $ invoice.
Is there a way of sending the balance without creating the zero $
invoice?

kind regards,



[Non-text portions of this message have been removed]



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[Non-text portions of this message have been removed]
The customer wants us to warehouse the product until they have a
destination.
We would love to send the entire batch, but are requested to hold some
of the product.
We are not thrilled to do it this way, but as the customer is always
right......
thanks,

-----Original Message-----
From: Cheryl Rigsbee [mailto:Cherylr@...]
Sent: Friday, November 05, 2004 11:35 AM
To: vantage@yahoogroups.com
Subject: RE: [Vantage] Handling Invoiced Shipments


Just curious, why do you not ship all the product if the customer is
willing to be invoiced for all the product? also, how long is this
product on your shelf and does this cause inventory control and balance
issues. My first thought is that this is not good accounting practice.
Inventory balance would be off and Sales are not accurate. Just
curious?


To respond to your question:

How are you invoicing the full balance.....
1- Shipping ALL pcs on the Packing Slip and then processing the
invoice?

OR
2-Shipping a partial on the Packing Slip and then adjusting the
invoice to make it look like you shipped all the pcs?





-----Original Message-----
From: PLAMAN DICK [mailto:dick.plaman@...]
Sent: Friday, November 05, 2004 10:34 AM
To: vantage@yahoogroups.com
Subject: [Vantage] Handling Invoiced Shipments


Dear MfgSyser's,
Do we have any pioneers who have a similar situation where we produce a
product for a customer and send a partial to them, and warehouse the
balance. When the product comes out of production the entire order is
invoiced, even tho we only send them a partial. When we send the
balance, we are creating a zero $ invoice.
Is there a way of sending the balance without creating the zero $
invoice?

kind regards,



[Non-text portions of this message have been removed]



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So how are you shipping them now.

My thought is if you ship ALL the pcs on the original Packing Slip....this closes the order, and invoices for the full amount. So when you ship the remainder you can ship on a MISC packing slip then no invoice will be generated.


-----Original Message-----
From: PLAMAN DICK [mailto:dick.plaman@...]
Sent: Friday, November 05, 2004 11:42 AM
To: vantage@yahoogroups.com
Subject: RE: [Vantage] Handling Invoiced Shipments


The customer wants us to warehouse the product until they have a
destination.
We would love to send the entire batch, but are requested to hold some
of the product.
We are not thrilled to do it this way, but as the customer is always
right......
thanks,

-----Original Message-----
From: Cheryl Rigsbee [mailto:Cherylr@...]
Sent: Friday, November 05, 2004 11:35 AM
To: vantage@yahoogroups.com
Subject: RE: [Vantage] Handling Invoiced Shipments


Just curious, why do you not ship all the product if the customer is
willing to be invoiced for all the product? also, how long is this
product on your shelf and does this cause inventory control and balance
issues. My first thought is that this is not good accounting practice.
Inventory balance would be off and Sales are not accurate. Just
curious?


To respond to your question:

How are you invoicing the full balance.....
1- Shipping ALL pcs on the Packing Slip and then processing the
invoice?

OR
2-Shipping a partial on the Packing Slip and then adjusting the
invoice to make it look like you shipped all the pcs?





-----Original Message-----
From: PLAMAN DICK [mailto:dick.plaman@...]
Sent: Friday, November 05, 2004 10:34 AM
To: vantage@yahoogroups.com
Subject: [Vantage] Handling Invoiced Shipments


Dear MfgSyser's,
Do we have any pioneers who have a similar situation where we produce a
product for a customer and send a partial to them, and warehouse the
balance. When the product comes out of production the entire order is
invoiced, even tho we only send them a partial. When we send the
balance, we are creating a zero $ invoice.
Is there a way of sending the balance without creating the zero $
invoice?

kind regards,



[Non-text portions of this message have been removed]



Useful links for the Yahoo!Groups Vantage Board are: ( Note: You must
have already linked your email address to a yahoo id to enable access. )
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and Crystal Reports and other 'goodies', please goto:
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[Non-text portions of this message have been removed]
It's a common practice in some industries. It's called a bill and hold
arrangement. I would get the agreement in writing so the are no
questions about revenue recognition at year-end.

Edward F. Fox, Jr., CPA

Controller

Maxson Automatic Machinery Company

Phone 401-596-1062 ∙ Fax 401-596-1050

www.maxsonautomatic.com <http://www.maxsonautomatic.com>



PLAMAN DICK wrote:

>The customer wants us to warehouse the product until they have a
>destination.
>We would love to send the entire batch, but are requested to hold some
>of the product.
>We are not thrilled to do it this way, but as the customer is always
>right......
>thanks,
>
>-----Original Message-----
>From: Cheryl Rigsbee [mailto:Cherylr@...]
>Sent: Friday, November 05, 2004 11:35 AM
>To: vantage@yahoogroups.com
>Subject: RE: [Vantage] Handling Invoiced Shipments
>
>
>Just curious, why do you not ship all the product if the customer is
>willing to be invoiced for all the product? also, how long is this
>product on your shelf and does this cause inventory control and balance
>issues. My first thought is that this is not good accounting practice.
>Inventory balance would be off and Sales are not accurate. Just
>curious?
>
>
>To respond to your question:
>
>How are you invoicing the full balance.....
> 1- Shipping ALL pcs on the Packing Slip and then processing the
>invoice?
>
> OR
> 2-Shipping a partial on the Packing Slip and then adjusting the
>invoice to make it look like you shipped all the pcs?
>
>
>
>
>
>-----Original Message-----
>From: PLAMAN DICK [mailto:dick.plaman@...]
>Sent: Friday, November 05, 2004 10:34 AM
>To: vantage@yahoogroups.com
>Subject: [Vantage] Handling Invoiced Shipments
>
>
>Dear MfgSyser's,
>Do we have any pioneers who have a similar situation where we produce a
>product for a customer and send a partial to them, and warehouse the
>balance. When the product comes out of production the entire order is
>invoiced, even tho we only send them a partial. When we send the
>balance, we are creating a zero $ invoice.
>Is there a way of sending the balance without creating the zero $
>invoice?
>
>kind regards,
>
>
>
>[Non-text portions of this message have been removed]
>
>
>
>Useful links for the Yahoo!Groups Vantage Board are: ( Note: You must
>have already linked your email address to a yahoo id to enable access. )
>(1) To access the Files Section of our Yahoo!Group for Report Builder
>and Crystal Reports and other 'goodies', please goto:
>http://groups.yahoo.com/group/vantage/files/.
>(2) To search through old msg's goto:
>http://groups.yahoo.com/group/vantage/messages
>(3) To view links to Vendors that provide Vantage services goto:
>http://groups.yahoo.com/group/vantage/links
>
>
>
>Yahoo! Groups Sponsor
>
><http://us.ard.yahoo.com/SIG=129i4km5u/M=281955.5530326.6602771.3001176/
>D=groups/S=1705007183:HM/EXP=1099755296/A=2343726/R=0/SIG=12id4l0ds/*htt
>p://clk.atdmt.com/VON/go/yhxxxvon01900091von/direct/01/&time=10996688969
>37381>
><http://us.ard.yahoo.com/SIG=129i4km5u/M=281955.5530326.6602771.3001176/
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>37381>
>
>
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>
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>668896937381>
>
><http://us.adserver.yahoo.com/l?M=281955.5530326.6602771.3001176/D=group
>s/S=:HM/A=2343726/rand=778361343>
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>
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>and Crystal Reports and other 'goodies', please goto:
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>(3) To view links to Vendors that provide Vantage services goto:
>http://groups.yahoo.com/group/vantage/links
>Yahoo! Groups Links
>
>
>
>
>
>
>
>
>
>
>
>
>Useful links for the Yahoo!Groups Vantage Board are: ( Note: You must have already linked your email address to a yahoo id to enable access. )
>(1) To access the Files Section of our Yahoo!Group for Report Builder and Crystal Reports and other 'goodies', please goto: http://groups.yahoo.com/group/vantage/files/.
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>Yahoo! Groups Links
>
>
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>
>
>
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>
>
Interesting...

Never heard of such a situation


-----Original Message-----
From: Edward F. Fox, Jr. [mailto:efox@...]
Sent: Friday, November 05, 2004 11:54 AM
To: vantage@yahoogroups.com
Subject: Re: [Vantage] Handling Invoiced Shipments


It's a common practice in some industries. It's called a bill and hold
arrangement. I would get the agreement in writing so the are no
questions about revenue recognition at year-end.

Edward F. Fox, Jr., CPA

Controller

Maxson Automatic Machinery Company

Phone 401-596-1062 · Fax 401-596-1050

www.maxsonautomatic.com < http://www.maxsonautomatic.com>



PLAMAN DICK wrote:

>The customer wants us to warehouse the product until they have a
>destination.
>We would love to send the entire batch, but are requested to hold some
>of the product.
>We are not thrilled to do it this way, but as the customer is always
>right......
>thanks,
>
>-----Original Message-----
>From: Cheryl Rigsbee [mailto:Cherylr@...]
>Sent: Friday, November 05, 2004 11:35 AM
>To: vantage@yahoogroups.com
>Subject: RE: [Vantage] Handling Invoiced Shipments
>
>
>Just curious, why do you not ship all the product if the customer is
>willing to be invoiced for all the product? also, how long is this
>product on your shelf and does this cause inventory control and balance
>issues. My first thought is that this is not good accounting practice.
>Inventory balance would be off and Sales are not accurate. Just
>curious?
>
>
>To respond to your question:
>
>How are you invoicing the full balance.....
> 1- Shipping ALL pcs on the Packing Slip and then processing the
>invoice?
>
> OR
> 2-Shipping a partial on the Packing Slip and then adjusting the
>invoice to make it look like you shipped all the pcs?
>
>
>
>
>
>-----Original Message-----
>From: PLAMAN DICK [mailto:dick.plaman@...]
>Sent: Friday, November 05, 2004 10:34 AM
>To: vantage@yahoogroups.com
>Subject: [Vantage] Handling Invoiced Shipments
>
>
>Dear MfgSyser's,
>Do we have any pioneers who have a similar situation where we produce a
>product for a customer and send a partial to them, and warehouse the
>balance. When the product comes out of production the entire order is
>invoiced, even tho we only send them a partial. When we send the
>balance, we are creating a zero $ invoice.
>Is there a way of sending the balance without creating the zero $
>invoice?
>
>kind regards,
>
>
>
>[Non-text portions of this message have been removed]
>
>
>
>Useful links for the Yahoo!Groups Vantage Board are: ( Note: You must
>have already linked your email address to a yahoo id to enable access. )
>(1) To access the Files Section of our Yahoo!Group for Report Builder
>and Crystal Reports and other 'goodies', please goto:
> http://groups.yahoo.com/group/vantage/files/.
>(2) To search through old msg's goto:
> http://groups.yahoo.com/group/vantage/messages
>(3) To view links to Vendors that provide Vantage services goto:
> http://groups.yahoo.com/group/vantage/links
>
>
>
>Yahoo! Groups Sponsor
>
>< http://us.ard.yahoo.com/SIG=129i4km5u/M=281955.5530326.6602771.3001176/
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>p://clk.atdmt.com/VON/go/yhxxxvon01900091von/direct/01/&time=10996688969
>37381>
>< http://us.ard.yahoo.com/SIG=129i4km5u/M=281955.5530326.6602771.3001176/
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>p://clk.atdmt.com/VON/go/yhxxxvon01900091von/direct/01/&time=10996688969
>37381>
>
>
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>
>U.S./Canada
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>668896937381>
>
>< http://us.adserver.yahoo.com/l?M=281955.5530326.6602771.3001176/D=group
>s/S=:HM/A=2343726/rand=778361343>
>
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>
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[Non-text portions of this message have been removed]
This may be a round about way of doing this, but why not receive everything
into stock and then just make a packing slip for the partial?

That way the Invoice is just for the partial?

M. Manasa Reddy
ERP Specialist
Crestview Aerospace Corporation
Email: mreddy@...
Phone: (850) 682-2746 x 272


-----Original Message-----
From: PLAMAN DICK [mailto:dick.plaman@...]
Sent: Friday, November 05, 2004 9:34 AM
To: vantage@yahoogroups.com
Subject: [Vantage] Handling Invoiced Shipments


Dear MfgSyser's,
Do we have any pioneers who have a similar situation where we produce a
product for a customer and
send a partial to them, and warehouse the balance. When the product
comes out of production the entire order
is invoiced, even tho we only send them a partial. When we send the
balance, we are creating a zero $ invoice.
Is there a way of sending the balance without creating the zero $
invoice?

kind regards,



[Non-text portions of this message have been removed]



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[Non-text portions of this message have been removed]
The manager of that division has agreed with this customer that they
would accept the invoice for
the entire batch upon completion. The warehoused material may be stored
for up to six months.
These are chemicals that are in bulk storage or 55 gallon drums.
Cheryl Rigsbee suggested sending the stored material out on a
miscellaneous packing slip. I was
unaware that this transaction would be exempt from the invoice queue.
We would only need to manually
adjust the inventory balances then.
thank all of you for your suggestions. You guys are a great resource.
We call this a ship in place. We create a packing slip for an item but put
SIP in the carrier field. We send the customer a copy of the packing slip
with an authorization to invoice form. When we receive the signed form back
we invoice the product. For us the actual shipment happens about a month
later in most cases.


Mark Dupuis
Ranor, Inc.
Bella Drive
Westminster, MA 01473
Tel: (978) 874-0591 X221
Fax: (978) 874-2748
mailto:dupuism@... <mailto:dupuism@...>


IMPORTANT NOTICE:
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-----Original Message-----
From: PLAMAN DICK [mailto:dick.plaman@...]
Sent: Friday, November 05, 2004 2:02 PM
To: vantage@yahoogroups.com
Subject: RE: [Vantage] Handling Invoiced Shipments


The manager of that division has agreed with this customer that they
would accept the invoice for
the entire batch upon completion. The warehoused material may be stored
for up to six months.
These are chemicals that are in bulk storage or 55 gallon drums.
Cheryl Rigsbee suggested sending the stored material out on a
miscellaneous packing slip. I was
unaware that this transaction would be exempt from the invoice queue.
We would only need to manually
adjust the inventory balances then.
thank all of you for your suggestions. You guys are a great resource.



Useful links for the Yahoo!Groups Vantage Board are: ( Note: You must have
already linked your email address to a yahoo id to enable access. )
(1) To access the Files Section of our Yahoo!Group for Report Builder and
Crystal Reports and other 'goodies', please goto:
http://groups.yahoo.com/group/vantage/files/.
<http://groups.yahoo.com/group/vantage/files/.>
(2) To search through old msg's goto:
http://groups.yahoo.com/group/vantage/messages
<http://groups.yahoo.com/group/vantage/messages>
(3) To view links to Vendors that provide Vantage services goto:
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<http://groups.yahoo.com/group/vantage/links>



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[Non-text portions of this message have been removed]
We call this a ship in place. We create a packing slip for an item but put
SIP in the carrier field. We send the customer a copy of the packing slip
with an authorization to invoice form. When we receive the signed form back
we invoice the product. For us the actual shipment happens about a month
later in most cases.


Mark Dupuis
Ranor, Inc.
Bella Drive
Westminster, MA 01473
Tel: (978) 874-0591 X221
Fax: (978) 874-2748
mailto:dupuism@... <mailto:dupuism@...>


IMPORTANT NOTICE:
This email, together with any attachments, is confidential. It may be
legally privileged, and is for the intended recipient only. Access,
disclosure, copying, or distribution of it by anyone else is prohibited and
may be a criminal offense. Please delete if obtained in error; and email a
notification to the sender.

-----Original Message-----
From: PLAMAN DICK [mailto:dick.plaman@...]
Sent: Friday, November 05, 2004 2:02 PM
To: vantage@yahoogroups.com
Subject: RE: [Vantage] Handling Invoiced Shipments


The manager of that division has agreed with this customer that they
would accept the invoice for
the entire batch upon completion. The warehoused material may be stored
for up to six months.
These are chemicals that are in bulk storage or 55 gallon drums.
Cheryl Rigsbee suggested sending the stored material out on a
miscellaneous packing slip. I was
unaware that this transaction would be exempt from the invoice queue.
We would only need to manually
adjust the inventory balances then.
thank all of you for your suggestions. You guys are a great resource.



Useful links for the Yahoo!Groups Vantage Board are: ( Note: You must have
already linked your email address to a yahoo id to enable access. )
(1) To access the Files Section of our Yahoo!Group for Report Builder and
Crystal Reports and other 'goodies', please goto:
http://groups.yahoo.com/group/vantage/files/.
<http://groups.yahoo.com/group/vantage/files/.>
(2) To search through old msg's goto:
http://groups.yahoo.com/group/vantage/messages
<http://groups.yahoo.com/group/vantage/messages>
(3) To view links to Vendors that provide Vantage services goto:
http://groups.yahoo.com/group/vantage/links
<http://groups.yahoo.com/group/vantage/links>



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