Further to Rick's email the Dr and Cr happens when the packing slip is
ticked as shipped.
Message: 8
Date: Thu, 23 Jun 2005 11:51:54 -0500
From: "Ludwig, Rick" <RickL@...>
Subject: RE: Inventory/WIP Reconciliation
Michelle-
Although we don't use Product Groups, Vantage works in the following
manner with respect to product costs:
1. Pack Slip creation: DEBIT A/R Clearing Account CREDIT
Inventory
2. Invoice creation: DEBIT COGS CREDIT
A/R Clearing Account
The A/R clearing account only serves the purpose to ensure all pack
slipped goods have been invoiced/posted (when I review the Inventory/WIP
Reconcilation report at month-end, I make sure that the debits = credits
in the A/R Clearing account). I have a feeling that you are using your
"A/R Trade" account number as your "A/R Clearing" account number in your
configuration setup.
I hope this helps. Let me know if you have any questions.
Thanks!
Rick Ludwig
-----Original Message-----
From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf
Of Michelle de la Vega
Sent: Tuesday, June 14, 2005 10:01 AM
To: vantage@yahoogroups.com
Subject: [Vantage] Inventory/WIP Reconciliation
Sometimes (Not Always) when we create a sales order with the proper
product groups then ship the inventory the cost hits AR Trade instead of
the correct G/L account which is set up in the product group. But then
when we invoice this shipment, the cost moves from AR Trade to the
correct G/L account. Does anyone know what causes this?
I am truly stumped.
Thanks,
Michelle de la Vega
Business Applications Manager
Cold Jet, LLC
513-831-3211 ext 400
513-831-1209 fax
www.ColdJet.com
ticked as shipped.
Message: 8
Date: Thu, 23 Jun 2005 11:51:54 -0500
From: "Ludwig, Rick" <RickL@...>
Subject: RE: Inventory/WIP Reconciliation
Michelle-
Although we don't use Product Groups, Vantage works in the following
manner with respect to product costs:
1. Pack Slip creation: DEBIT A/R Clearing Account CREDIT
Inventory
2. Invoice creation: DEBIT COGS CREDIT
A/R Clearing Account
The A/R clearing account only serves the purpose to ensure all pack
slipped goods have been invoiced/posted (when I review the Inventory/WIP
Reconcilation report at month-end, I make sure that the debits = credits
in the A/R Clearing account). I have a feeling that you are using your
"A/R Trade" account number as your "A/R Clearing" account number in your
configuration setup.
I hope this helps. Let me know if you have any questions.
Thanks!
Rick Ludwig
-----Original Message-----
From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf
Of Michelle de la Vega
Sent: Tuesday, June 14, 2005 10:01 AM
To: vantage@yahoogroups.com
Subject: [Vantage] Inventory/WIP Reconciliation
Sometimes (Not Always) when we create a sales order with the proper
product groups then ship the inventory the cost hits AR Trade instead of
the correct G/L account which is set up in the product group. But then
when we invoice this shipment, the cost moves from AR Trade to the
correct G/L account. Does anyone know what causes this?
I am truly stumped.
Thanks,
Michelle de la Vega
Business Applications Manager
Cold Jet, LLC
513-831-3211 ext 400
513-831-1209 fax
www.ColdJet.com