V8.03.407a Invoice Questions

Yahoo Archive
1
Thanks, Dawn! :) I wouldn't do it either, but asking the question in that way gave me a very clear understanding of how the system processes the posting. Apparently nobody here in accounting ever thought about this before. My gut told me this was how it works, but I wanted to be sure before I went over to management/accounting and said,

"Don't worry - the customer's oversight/error won't affect revenues."

Happy New Year!
--Ari

________________________________

From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf Of Dawn Balinski
Sent: Tuesday, December 29, 2009 3:35 PM
To: vantage@yahoogroups.com
Subject: RE: [Vantage] v8.03.407a Invoice Questions




Ari --

Technically, you *could* do as you stated, but it isn't common accounting practice -- nor would I ever suggest someone do that.

Dawn


________________________________

From: vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com> [mailto:vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com> ] On Behalf Of Ari Footlik
Sent: Tuesday, December 29, 2009 4:32 PM
To: vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com>
Subject: RE: [Vantage] v8.03.407a Invoice Questions

Dawn -

So, if I'm reading your response correctly, I could, in theory, have an invoice date of 12/29/2009, change the "Fiscal Year" and "Period" to August 2009, post the group in March 2010, and still have the revenue show up on the books for August 2009? I wouldn't DO that, but, in theory, I *could*?

Thanks again!
--Ari

________________________________

From: vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com> <mailto:vantage%40yahoogroups.com> [mailto:vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com> <mailto:vantage%40yahoogroups.com> ] On Behalf Of Dawn Balinski
Sent: Tuesday, December 29, 2009 3:22 PM
To: vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com> <mailto:vantage%40yahoogroups.com>
Subject: RE: [Vantage] v8.03.407a Invoice Questions

Ari --

1 -- The group posts to whatever PERIOD is specified in the header, typically the invoice date.
2 -- You CANNOT edit an invoice once it is posted.

My suggestion would be to send out what invoices you can now and invoice once you get the PO for the one you are waiting for. Once you have all the information in, then post the group.

Dawn Balinski
Sr. Financial Analyst

Commercial Tool & Die, Inc.
5351 Rusche Drive NW
Comstock Park, MI 49321

( 616-785-5728
Ê 616-785-2955

________________________________

From: vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com> <mailto:vantage%40yahoogroups.com> <mailto:vantage%40yahoogroups.com> [mailto:vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com> <mailto:vantage%40yahoogroups.com> <mailto:vantage%40yahoogroups.com> ] On Behalf Of Ari Footlik
Sent: Tuesday, December 29, 2009 4:20 PM
To: vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com> <mailto:vantage%40yahoogroups.com> <mailto:vantage%40yahoogroups.com>
Subject: [Vantage] v8.03.407a Invoice Questions

Hi, all -

I have a couple of questions about invoices:

1) If my "Invoice Date" is today, but I don't post the group until
1/4/2010, when does the revenue "hit the books?" On the day the group
was posted? Or on the day the invoice was created? (I'm hoping it's on
the invoice date, not the posting date...)

2) If the answer to #1 is "The posting date," then once I post the group
containing an invoice, can I re-open the posted-invoice to edit fields
in the invoice header? Say for example that we know an order from a
customer is coming, and we want the revenue on the books this year, but
we may not get the customer's PO *number* until next year. I post the
group today (before EOY) with no "Customer PO" (blank field). Can I go
back to a posted invoice and edit the "Customer PO" field?

Thanks in advance!

--Ari

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[Non-text portions of this message have been removed]
2
Hi, all -

I have a couple of questions about invoices:

1) If my "Invoice Date" is today, but I don't post the group until
1/4/2010, when does the revenue "hit the books?" On the day the group
was posted? Or on the day the invoice was created? (I'm hoping it's on
the invoice date, not the posting date...)

2) If the answer to #1 is "The posting date," then once I post the group
containing an invoice, can I re-open the posted-invoice to edit fields
in the invoice header? Say for example that we know an order from a
customer is coming, and we want the revenue on the books this year, but
we may not get the customer's PO *number* until next year. I post the
group today (before EOY) with no "Customer PO" (blank field). Can I go
back to a posted invoice and edit the "Customer PO" field?

Thanks in advance!

--Ari


[Non-text portions of this message have been removed]
3
Ari --

1 -- The group posts to whatever PERIOD is specified in the header, typically the invoice date.
2 -- You CANNOT edit an invoice once it is posted.

My suggestion would be to send out what invoices you can now and invoice once you get the PO for the one you are waiting for. Once you have all the information in, then post the group.

Dawn Balinski
Sr. Financial Analyst

Commercial Tool & Die, Inc.
5351 Rusche Drive NW
Comstock Park, MI 49321

( 616-785-5728
Ê 616-785-2955


________________________________

From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf Of Ari Footlik
Sent: Tuesday, December 29, 2009 4:20 PM
To: vantage@yahoogroups.com
Subject: [Vantage] v8.03.407a Invoice Questions




Hi, all -

I have a couple of questions about invoices:

1) If my "Invoice Date" is today, but I don't post the group until
1/4/2010, when does the revenue "hit the books?" On the day the group
was posted? Or on the day the invoice was created? (I'm hoping it's on
the invoice date, not the posting date...)

2) If the answer to #1 is "The posting date," then once I post the group
containing an invoice, can I re-open the posted-invoice to edit fields
in the invoice header? Say for example that we know an order from a
customer is coming, and we want the revenue on the books this year, but
we may not get the customer's PO *number* until next year. I post the
group today (before EOY) with no "Customer PO" (blank field). Can I go
back to a posted invoice and edit the "Customer PO" field?

Thanks in advance!

--Ari

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






[Non-text portions of this message have been removed]
4
Dawn -

So, if I'm reading your response correctly, I could, in theory, have an invoice date of 12/29/2009, change the "Fiscal Year" and "Period" to August 2009, post the group in March 2010, and still have the revenue show up on the books for August 2009? I wouldn't DO that, but, in theory, I *could*?

Thanks again!
--Ari

________________________________

From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf Of Dawn Balinski
Sent: Tuesday, December 29, 2009 3:22 PM
To: vantage@yahoogroups.com
Subject: RE: [Vantage] v8.03.407a Invoice Questions




Ari --

1 -- The group posts to whatever PERIOD is specified in the header, typically the invoice date.
2 -- You CANNOT edit an invoice once it is posted.

My suggestion would be to send out what invoices you can now and invoice once you get the PO for the one you are waiting for. Once you have all the information in, then post the group.

Dawn Balinski
Sr. Financial Analyst

Commercial Tool & Die, Inc.
5351 Rusche Drive NW
Comstock Park, MI 49321

( 616-785-5728
Ê 616-785-2955


________________________________

From: vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com> [mailto:vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com> ] On Behalf Of Ari Footlik
Sent: Tuesday, December 29, 2009 4:20 PM
To: vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com>
Subject: [Vantage] v8.03.407a Invoice Questions

Hi, all -

I have a couple of questions about invoices:

1) If my "Invoice Date" is today, but I don't post the group until
1/4/2010, when does the revenue "hit the books?" On the day the group
was posted? Or on the day the invoice was created? (I'm hoping it's on
the invoice date, not the posting date...)

2) If the answer to #1 is "The posting date," then once I post the group
containing an invoice, can I re-open the posted-invoice to edit fields
in the invoice header? Say for example that we know an order from a
customer is coming, and we want the revenue on the books this year, but
we may not get the customer's PO *number* until next year. I post the
group today (before EOY) with no "Customer PO" (blank field). Can I go
back to a posted invoice and edit the "Customer PO" field?

Thanks in advance!

--Ari

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

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






[Non-text portions of this message have been removed]
5
Ari --

Technically, you *could* do as you stated, but it isn't common accounting practice -- nor would I ever suggest someone do that.

Dawn


________________________________

From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf Of Ari Footlik
Sent: Tuesday, December 29, 2009 4:32 PM
To: vantage@yahoogroups.com
Subject: RE: [Vantage] v8.03.407a Invoice Questions




Dawn -

So, if I'm reading your response correctly, I could, in theory, have an invoice date of 12/29/2009, change the "Fiscal Year" and "Period" to August 2009, post the group in March 2010, and still have the revenue show up on the books for August 2009? I wouldn't DO that, but, in theory, I *could*?

Thanks again!
--Ari

________________________________

From: vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com> [mailto:vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com> ] On Behalf Of Dawn Balinski
Sent: Tuesday, December 29, 2009 3:22 PM
To: vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com>
Subject: RE: [Vantage] v8.03.407a Invoice Questions

Ari --

1 -- The group posts to whatever PERIOD is specified in the header, typically the invoice date.
2 -- You CANNOT edit an invoice once it is posted.

My suggestion would be to send out what invoices you can now and invoice once you get the PO for the one you are waiting for. Once you have all the information in, then post the group.

Dawn Balinski
Sr. Financial Analyst

Commercial Tool & Die, Inc.
5351 Rusche Drive NW
Comstock Park, MI 49321

( 616-785-5728
Ê 616-785-2955

________________________________

From: vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com> <mailto:vantage%40yahoogroups.com> [mailto:vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com> <mailto:vantage%40yahoogroups.com> ] On Behalf Of Ari Footlik
Sent: Tuesday, December 29, 2009 4:20 PM
To: vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com> <mailto:vantage%40yahoogroups.com>
Subject: [Vantage] v8.03.407a Invoice Questions

Hi, all -

I have a couple of questions about invoices:

1) If my "Invoice Date" is today, but I don't post the group until
1/4/2010, when does the revenue "hit the books?" On the day the group
was posted? Or on the day the invoice was created? (I'm hoping it's on
the invoice date, not the posting date...)

2) If the answer to #1 is "The posting date," then once I post the group
containing an invoice, can I re-open the posted-invoice to edit fields
in the invoice header? Say for example that we know an order from a
customer is coming, and we want the revenue on the books this year, but
we may not get the customer's PO *number* until next year. I post the
group today (before EOY) with no "Customer PO" (blank field). Can I go
back to a posted invoice and edit the "Customer PO" field?

Thanks in advance!

--Ari

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

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

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






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