You can set up the part as non quantity bearing, use a part class that
has the asset account you need this to go to. Then when you do your
receipt from manufacturing after completing the job your costs would go
directly to your asset account. This eliminates a couple extra steps
i.e. the quantity adjustment and or journal entry to get costs to the
proper account. We have set up a lot of R&D or Sample parts this way.
Jim
________________________________
From:
vantage@yahoogroups.com [mailto:
vantage@yahoogroups.com] On Behalf
Of Thomas Rose
Sent: Thursday, January 22, 2009 4:47 PM
To:
vantage@yahoogroups.com
Subject: [Vantage] RE: Job to capital expense?
We remove inventory for things like sales samples. We do that with an
inventory adjustment code that we set up with the GL account for sales
samples. Although you might not use it very often, you could set up an
inventory adjustment code for capital jobs and use the account number
for fixed assets. This seems a little cleaner than just using a JE,
though the way you propose will work just fine.
Thom Rose
Controller
Electric Mirror LLC
HOTEL LUXURY
"The World Leader in Back-lit Mirrors & Mirror TV Technology"
T 425 776-4946
F 425 491-8200
A 11831 Beverly Park Rd, Bldg D, Everett, WA 98204 USA
www.electricmirror.com
From:
vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com>
[mailto:
vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com> ] On
Behalf Of Ken Williams
Sent: Thursday, January 22, 2009 2:15 PM
To:
vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com>
Subject: {Disarmed} [Vantage] Job to capital expense?
We have a project coming up that we will use our people & material to
build a piece of equipment we'll end up using ourselves (it'll never get
sold to a customer).
How have you guys managed time & material for this type of job? My
initial thought is receive it as a stock item, then do a GL entry to
move it out of inventory to expense.
Ken
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