WIP A/R Clearing

Jim -

The reason I used the A/R clearing is because I wanted to match my
Sales $'s each month with my cost. If I didn't use the A/R clearing
I could have a month just like you where we were creating packing
slips and the total order was not being released until the following
month. I ran a report (not standard in Vantage)I called it "Shipping
Journal-Not Invoiced" at the end of the month I ran this report I get
all the packing slips with $'s that were not going to be invoiced
that month. Once all the invoicing was done (because the invoice
clearing out this account) what was left should match my report. We
had a procedure between shipping and A/R that worked very well.
Worked for me.

Let me know

--- In vantage@y..., "jrmckechnie" <jrmckechnie@h...> wrote:
> Hi Nancy,
>
> Yes, we have pretty much figured what WIP A/R Clearing is doing,
> unfortunately, we have a significant balance in it each month
because
> of the delay from our packing slips to the final invoicing. The
> ultimate problem is that if we generate a packing slip today, and
> then invoice it late in January of next year, we will have that
entry
> (or entries) sitting in WIP A/R Clearing when we close our books
this
> month -- and how do we reconcile 22 pages of entries for this
account
> without encountering a labor intensive line-by-line accounting? I
> guess my next question is why do we need the WIP A/R Clearing
account
> at all? It sounds like others in this user group don't use it. Is
> it something we can just turn off?
>
> The process flow of Vantage appears to me to be designed
specifically
> for companies that complete a product, ship it, and invoice in a
> short window of time. We followed the parameters to the letter and
> now find that with our process, we need to wait until we are
through
> the installation to generate a packing slip (seems a little non-
value
> added at this point, but that's how the system works!!).
>
> Sorry for getting off on a rant. Thank you for the feedback.
>
> Jim
>
> Jim McKechnie
> General Manager
> Signtech Electrical Advertising, Inc.
> Phone: (619) 527-6100
> jim@s...
>
>
> --- In vantage@y..., "nancyann15301" <nriffle@a...> wrote:
> > Jim -
> > Oops I sent my response before I was done -> sorry.
> >
> > IF you do not have an A/R Clearing identified the cost ($'s) move
> > directly to your COS account.
> >
> > --- In vantage@y..., "jrmckechnie" <jrmckechnie@h...> wrote:
> > > Hi Nancy,
> > >
> > > You know,it's interesting to read the responses I received to
> this
> > > thread. Our accounting staff has not made much mention about
the
> > WIP
> > > A/P Clearing, only the WIP A/R Clearing account. When you
> > suggested
> > > we run the "Received not Invoiced" report, I take it that this
is
> a
> > > standard report that I should be able to find within Vantage?
> Or,
> > is
> > > it another of those reports that I need to create? All I found
> was
> > > an "Open Purchase Orders" report.
> > >
> > > Our situation is probably different from many of the users in
> this
> > > group. We manufacture signs and we have been creating the
> packing
> > > slip after we complete the manufacturing of the sign. We then
> ship
> > > our signs all over the country for installation and the final
> > signage
> > > may not be installed for another 2 to 6 weeks. This then means
> > that
> > > we will have notified the system that we have "completed" our
> > > product, only to have sent a fake punt. We are about to change
> our
> > > process by not creating the packing slip until the signs have
> been
> > > installed, thereby reducing the days until we invoice. What is
> > your
> > > thought?
> > >
> > > Jim
> > > Jim McKechnie
> > > General Manager
> > > Signtech Electrical Advertising, Inc.
> > > Phone: (619) 527-6100
> > > jim@s...
> > >
> > >
> > > --- In vantage@y..., "nancyann15301" <nriffle@a...> wrote:
> > > > There are 2 clearing accounts.
> > > > 1) A/P Clearing - this one is very important to keep your
> > receiving
> > > > procedures tight and run the Received Not Invoiced report.
> > > > 2) A/R Clearing - first question would be how did you setup
your
> > > > A/R Configuration ..."Use the shipment Date for the Invoice
> Date"
> > > > this will determine when cost from WIP move to your COS
> accounts.
> > > > If unchecked it will use your Invoice date...which could be in
> > > > a different period.
> > > >
> > > > Need more information let me know.
> > > >
> > > > --- In vantage@y..., "Wilmoth, Deb" <Deb@r...> wrote:
> > > > > Amen. Responses are slow to come on this subject because
it
> is
> > a
> > > > nightmare
> > > > > to reconcile for a variety of reasons. I believe some
folks
> > > don't
> > > > even
> > > > > bother. Some people don't interface inventory to the
G/L.
> > > Also,
> > > > you said
> > > > > WIP A/R. I hope you meant A/P when referring to WIP or I'm
> not
> > > > quite sure
> > > > > what you are asking to reconcile.
> > > > >
> > > > > Do you interface inventory to the general ledger?
> > > > >
> > > > > If your controller would like to e-mail or call me
directly,
> > that
> > > > might be
> > > > > more helpful.
> > > > >
> > > > > Deb Wilmoth
> > > > > Controller
> > > > > Reeder & Kline Machine Company, Inc.
> > > > > Vantage 5.0
> > > > >
> > > > >
> > > > > -----Original Message-----
> > > > > From: accelgrp [mailto:RobM@A...]
> > > > > Sent: Thursday, December 20, 2001 8:40 AM
> > > > > To: vantage@y...
> > > > > Subject: [Vantage] Re: WIP A/R Clearing
> > > > >
> > > > >
> > > > >
> > > > > I don't know of any BEST way. Just a lot of grunt work.
> > > > > Personally, I pull the INV/WIP Reconciliation report for
the
> > > > clearing
> > > > > account into Excel. Sort/Group by reference and have at it.
> > > > >
> > > > > Rob McFarlin, Controller
> > > > > Accel Group, Inc.
> > > > > RobM@A...
> > > > >
> > > > > --- In vantage@y..., "jrmckechnie" <jrmckechnie@h...> wrote:
> > > > > > Can any of you advise me and our new Controller on your
> > > > procedures
> > > > > > for reconciling the WIP A/R Clearing account each month?
> We
> > > have
> > > > > 22
> > > > > > pages of activity for one month and we are not sure what
is
> > the
> > > > > best
> > > > > > method to reconcile all this information.
> > > > > >
> > > > > > Thank you in advance,
> > > > > >
> > > > > > Jim
> > > > > >
> > > > > > Jim McKechnie
> > > > > > General Manager
> > > > > > Signtech Electrical Advertising, Inc.
> > > > > > jim@s...
> > > > > > (619) 527-6100
> > > > >
> > > > >
> > > > >
> > > > > 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
> > > > >
> > > > > Your use of Yahoo! Groups is subject to
> > > > http://docs.yahoo.com/info/terms/
> > > > >
> > > > >
> > > > >
> > > > > [Non-text portions of this message have been removed]
Can any of you advise me and our new Controller on your procedures
for reconciling the WIP A/R Clearing account each month? We have 22
pages of activity for one month and we are not sure what is the best
method to reconcile all this information.

Thank you in advance,

Jim

Jim McKechnie
General Manager
Signtech Electrical Advertising, Inc.
jim@...
(619) 527-6100
I don't know of any BEST way. Just a lot of grunt work.
Personally, I pull the INV/WIP Reconciliation report for the clearing
account into Excel. Sort/Group by reference and have at it.

Rob McFarlin, Controller
Accel Group, Inc.
RobM@...

--- In vantage@y..., "jrmckechnie" <jrmckechnie@h...> wrote:
> Can any of you advise me and our new Controller on your procedures
> for reconciling the WIP A/R Clearing account each month? We have
22
> pages of activity for one month and we are not sure what is the
best
> method to reconcile all this information.
>
> Thank you in advance,
>
> Jim
>
> Jim McKechnie
> General Manager
> Signtech Electrical Advertising, Inc.
> jim@s...
> (619) 527-6100
Amen. Responses are slow to come on this subject because it is a nightmare
to reconcile for a variety of reasons. I believe some folks don't even
bother. Some people don't interface inventory to the G/L. Also, you said
WIP A/R. I hope you meant A/P when referring to WIP or I'm not quite sure
what you are asking to reconcile.

Do you interface inventory to the general ledger?

If your controller would like to e-mail or call me directly, that might be
more helpful.

Deb Wilmoth
Controller
Reeder & Kline Machine Company, Inc.
Vantage 5.0


-----Original Message-----
From: accelgrp [mailto:RobM@...]
Sent: Thursday, December 20, 2001 8:40 AM
To: vantage@yahoogroups.com
Subject: [Vantage] Re: WIP A/R Clearing



I don't know of any BEST way. Just a lot of grunt work.
Personally, I pull the INV/WIP Reconciliation report for the clearing
account into Excel. Sort/Group by reference and have at it.

Rob McFarlin, Controller
Accel Group, Inc.
RobM@...

--- In vantage@y..., "jrmckechnie" <jrmckechnie@h...> wrote:
> Can any of you advise me and our new Controller on your procedures
> for reconciling the WIP A/R Clearing account each month? We have
22
> pages of activity for one month and we are not sure what is the
best
> method to reconcile all this information.
>
> Thank you in advance,
>
> Jim
>
> Jim McKechnie
> General Manager
> Signtech Electrical Advertising, Inc.
> jim@s...
> (619) 527-6100



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

Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/



[Non-text portions of this message have been removed]
There are 2 clearing accounts.
1) A/P Clearing - this one is very important to keep your receiving
procedures tight and run the Received Not Invoiced report.
2) A/R Clearing - first question would be how did you setup your
A/R Configuration ..."Use the shipment Date for the Invoice Date"
this will determine when cost from WIP move to your COS accounts.
If unchecked it will use your Invoice date...which could be in
a different period.

Need more information let me know.

--- In vantage@y..., "Wilmoth, Deb" <Deb@r...> wrote:
> Amen. Responses are slow to come on this subject because it is a
nightmare
> to reconcile for a variety of reasons. I believe some folks don't
even
> bother. Some people don't interface inventory to the G/L. Also,
you said
> WIP A/R. I hope you meant A/P when referring to WIP or I'm not
quite sure
> what you are asking to reconcile.
>
> Do you interface inventory to the general ledger?
>
> If your controller would like to e-mail or call me directly, that
might be
> more helpful.
>
> Deb Wilmoth
> Controller
> Reeder & Kline Machine Company, Inc.
> Vantage 5.0
>
>
> -----Original Message-----
> From: accelgrp [mailto:RobM@A...]
> Sent: Thursday, December 20, 2001 8:40 AM
> To: vantage@y...
> Subject: [Vantage] Re: WIP A/R Clearing
>
>
>
> I don't know of any BEST way. Just a lot of grunt work.
> Personally, I pull the INV/WIP Reconciliation report for the
clearing
> account into Excel. Sort/Group by reference and have at it.
>
> Rob McFarlin, Controller
> Accel Group, Inc.
> RobM@A...
>
> --- In vantage@y..., "jrmckechnie" <jrmckechnie@h...> wrote:
> > Can any of you advise me and our new Controller on your
procedures
> > for reconciling the WIP A/R Clearing account each month? We have
> 22
> > pages of activity for one month and we are not sure what is the
> best
> > method to reconcile all this information.
> >
> > Thank you in advance,
> >
> > Jim
> >
> > Jim McKechnie
> > General Manager
> > Signtech Electrical Advertising, Inc.
> > jim@s...
> > (619) 527-6100
>
>
>
> 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
>
> Your use of Yahoo! Groups is subject to
http://docs.yahoo.com/info/terms/
>
>
>
> [Non-text portions of this message have been removed]
I too hope you meant WIP AP clearing account. I also think the account
should be the Received Goods or Purchases Clearing account, even though most
people don't call it that, because it is the purchases you have received but
no gotten invoiced by the vendor for. There is a report called Received but
Not Invoiced that I have had at several companies I have worked for. It
shows the items received, but that do not have an AP Invoice entered against
them. The total dollar value of this report should match the total dollars
in the above account. Very seldom do these two numbers ever equal because
either an item was received into inventory and an AP Invoice was entered
without tying it to the receiver or the item was received and the invoice
didn't match by quantity or dollar amount and the variance did not go to a
variance account for later disposition, or someone entered an invoice
against the wrong receiver. In any event it is sometime very difficult to
balance, especially the first few times until you get it balanced and know
what kind of problems you are having with AP invoicing and receiving. Once
you master reconciling it you should be able to keep it reconciled. Call me
if you would like any other information.

Cameron A. Janish
Misha1 cameron@...
Toll Free: 866-464-7421
Office: 708-445-7509
Cell: 630-712-9520
Office Fax: 630-893-1307
Direct Fax: 443-638-0489
-----Original Message-----
From: jrmckechnie [mailto:jrmckechnie@...]
Sent: Wednesday, December 19, 2001 02:07 PM
To: vantage@yahoogroups.com
Subject: [Vantage] WIP A/R Clearing


Can any of you advise me and our new Controller on your procedures
for reconciling the WIP A/R Clearing account each month? We have 22
pages of activity for one month and we are not sure what is the best
method to reconcile all this information.

Thank you in advance,

Jim

Jim McKechnie
General Manager
Signtech Electrical Advertising, Inc.
jim@...
(619) 527-6100


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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

Your use of Yahoo! Groups is subject to the Yahoo! Terms of Service.



[Non-text portions of this message have been removed]
We don't use the A/R clearing at this point but we do use the A/P clearing.
Here is the instructions we have for A/P clearing or as we call it PO
clearing. We will probably set up something similar when we move to 5.10 for
A/R clearing due to the change in how cogs is handled.

RECONCILIATION OF P.O. CLEARING ACCT #2010-00-00

The following reports are required:
1.) INVENTORY/WIP RECONCILIATION REPORT- from VANTAGE (contained in month
end folder).
2.) PURCHASE JOURNAL-from VANTAGE (contained in month end folder).
3.) RECEXP-from REPORT BUILDER.
4.) PJEXP-from REPORT BUILDER.

A. The Purchase Journal from Vantage account 2010-00-00 net amount should
equal the amount of the PJEXP report in report builder. Launch the PJEXP
report in report builder following Month End Reports To Run guidelines. If
the net amounts equal you can export PJEXP. If this is false then rerun the
Purchase Journal from Vantage for the Period on the screen to see if there
have been any changes.
B. Look at the Inventory/WIP reconciliation report. Go to the summary and
calculate the net effect on 2010-00-00. This should equal the RECEXP total
on the report builder report. Launch the RECEXP report in report builder
following Month End Reports To Run guidelines If the net amounts equal you
can export RECEXP. If this is false then we need to look for receipts with
date problems (i.e. receipt for May but entered in June).
C. After both sets of reports tie out for receipts and invoices, open a new
workbook in Excel and do a save as “POCL0006”. Do file open and find the
export files from report builder in t:\exportfiles. Follow the steps to
import using the “*” as the tab delimiters. You will do this for each file.
Edit to eliminate the extra page breaks and headings. Do an auto sum to
make sure the export amounts still agree with the original reports, and then
MOVE the sheets to the new workbook you have already saved.
D. You should now be in the new workbook and ready to combine the current
month receipts and invoice sheets. You will need to open the previous month
workbook and make a copy of last monthÂ’s final PO clearing sheet. On a new
sheet you should combine last months with the current month receipts and
invoices. Name the sheet you are working on “PO clearing mmm” where mmm is
the name of the month and the Current sum should be a sum of the net effect
on PO clearing account, column F. Original sum should now equal what the
Current sum is.
E. Now you can sort the worksheet date by vendor. Then sort each vendors
lines by PO# (column H), part # (column I), and value (column G). Then
match up receipts and adjustments with invoices and delete rows as receipts
and invoices total to zero.
F. After matching look for items that donÂ’t appear to belong in the account.
Check out items with older dates and items that have an invoice but no
receipt.
G. Print out copy of “P.O. clearing mmm” and have the Controller review it.
If there are items that need to be written off move them to a different
sheet and note the reason for the write off. All write offs and unusual
adjustments must be approved by Controller before submitting a journal entry
for month end closing activity.

> -----Original Message-----
> From: nancyann15301 [mailto:nriffle@...]
> Sent: Thursday, December 20, 2001 9:06 AM
> To: vantage@yahoogroups.com
> Subject: [Vantage] Re: WIP A/R Clearing
>
>
> There are 2 clearing accounts.
> 1) A/P Clearing - this one is very important to keep your receiving
> procedures tight and run the Received Not Invoiced report.
> 2) A/R Clearing - first question would be how did you setup your
> A/R Configuration ..."Use the shipment Date for the Invoice Date"
> this will determine when cost from WIP move to your COS accounts.
> If unchecked it will use your Invoice date...which could be in
> a different period.
>
> Need more information let me know.
>
> --- In vantage@y..., "Wilmoth, Deb" <Deb@r...> wrote:
> > Amen. Responses are slow to come on this subject because it is a
> nightmare
> > to reconcile for a variety of reasons. I believe some folks don't
> even
> > bother. Some people don't interface inventory to the G/L. Also,
> you said
> > WIP A/R. I hope you meant A/P when referring to WIP or I'm not
> quite sure
> > what you are asking to reconcile.
> >
> > Do you interface inventory to the general ledger?
> >
> > If your controller would like to e-mail or call me directly, that
> might be
> > more helpful.
> >
> > Deb Wilmoth
> > Controller
> > Reeder & Kline Machine Company, Inc.
> > Vantage 5.0
> >
> >
> > -----Original Message-----
> > From: accelgrp [mailto:RobM@A...]
> > Sent: Thursday, December 20, 2001 8:40 AM
> > To: vantage@y...
> > Subject: [Vantage] Re: WIP A/R Clearing
> >
> >
> >
> > I don't know of any BEST way. Just a lot of grunt work.
> > Personally, I pull the INV/WIP Reconciliation report for the
> clearing
> > account into Excel. Sort/Group by reference and have at it.
> >
> > Rob McFarlin, Controller
> > Accel Group, Inc.
> > RobM@A...
> >
> > --- In vantage@y..., "jrmckechnie" <jrmckechnie@h...> wrote:
> > > Can any of you advise me and our new Controller on your
> procedures
> > > for reconciling the WIP A/R Clearing account each month? We have
> > 22
> > > pages of activity for one month and we are not sure what is the
> > best
> > > method to reconcile all this information.
> > >
> > > Thank you in advance,
> > >
> > > Jim
> > >
> > > Jim McKechnie
> > > General Manager
> > > Signtech Electrical Advertising, Inc.
> > > jim@s...
> > > (619) 527-6100
> >
> >
> >
> > 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
> >
> > Your use of Yahoo! Groups is subject to
> http://docs.yahoo.com/info/terms/
> >
> >
> >
> > [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
>
> Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/
>
>
>
Hi Nancy,

You know,it's interesting to read the responses I received to this
thread. Our accounting staff has not made much mention about the WIP
A/P Clearing, only the WIP A/R Clearing account. When you suggested
we run the "Received not Invoiced" report, I take it that this is a
standard report that I should be able to find within Vantage? Or, is
it another of those reports that I need to create? All I found was
an "Open Purchase Orders" report.

Our situation is probably different from many of the users in this
group. We manufacture signs and we have been creating the packing
slip after we complete the manufacturing of the sign. We then ship
our signs all over the country for installation and the final signage
may not be installed for another 2 to 6 weeks. This then means that
we will have notified the system that we have "completed" our
product, only to have sent a fake punt. We are about to change our
process by not creating the packing slip until the signs have been
installed, thereby reducing the days until we invoice. What is your
thought?

Jim
Jim McKechnie
General Manager
Signtech Electrical Advertising, Inc.
Phone: (619) 527-6100
jim@...


--- In vantage@y..., "nancyann15301" <nriffle@a...> wrote:
> There are 2 clearing accounts.
> 1) A/P Clearing - this one is very important to keep your receiving
> procedures tight and run the Received Not Invoiced report.
> 2) A/R Clearing - first question would be how did you setup your
> A/R Configuration ..."Use the shipment Date for the Invoice Date"
> this will determine when cost from WIP move to your COS accounts.
> If unchecked it will use your Invoice date...which could be in
> a different period.
>
> Need more information let me know.
>
> --- In vantage@y..., "Wilmoth, Deb" <Deb@r...> wrote:
> > Amen. Responses are slow to come on this subject because it is a
> nightmare
> > to reconcile for a variety of reasons. I believe some folks
don't
> even
> > bother. Some people don't interface inventory to the G/L.
Also,
> you said
> > WIP A/R. I hope you meant A/P when referring to WIP or I'm not
> quite sure
> > what you are asking to reconcile.
> >
> > Do you interface inventory to the general ledger?
> >
> > If your controller would like to e-mail or call me directly, that
> might be
> > more helpful.
> >
> > Deb Wilmoth
> > Controller
> > Reeder & Kline Machine Company, Inc.
> > Vantage 5.0
> >
> >
> > -----Original Message-----
> > From: accelgrp [mailto:RobM@A...]
> > Sent: Thursday, December 20, 2001 8:40 AM
> > To: vantage@y...
> > Subject: [Vantage] Re: WIP A/R Clearing
> >
> >
> >
> > I don't know of any BEST way. Just a lot of grunt work.
> > Personally, I pull the INV/WIP Reconciliation report for the
> clearing
> > account into Excel. Sort/Group by reference and have at it.
> >
> > Rob McFarlin, Controller
> > Accel Group, Inc.
> > RobM@A...
> >
> > --- In vantage@y..., "jrmckechnie" <jrmckechnie@h...> wrote:
> > > Can any of you advise me and our new Controller on your
> procedures
> > > for reconciling the WIP A/R Clearing account each month? We
have
> > 22
> > > pages of activity for one month and we are not sure what is the
> > best
> > > method to reconcile all this information.
> > >
> > > Thank you in advance,
> > >
> > > Jim
> > >
> > > Jim McKechnie
> > > General Manager
> > > Signtech Electrical Advertising, Inc.
> > > jim@s...
> > > (619) 527-6100
> >
> >
> >
> > 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
> >
> > Your use of Yahoo! Groups is subject to
> http://docs.yahoo.com/info/terms/
> >
> >
> >
> > [Non-text portions of this message have been removed]
You will need to create your own report for shipped, but not invoiced for
A/R.
The report Nancy referred to that IS a canned report in Vantage is for A/P.

I run such a report, but do not use the A/R clearing account.

Deb Wilmoth
Controller
Reeder & Kline Machine Company, Inc.
Vantage 5.0


-----Original Message-----
From: jrmckechnie [mailto:jrmckechnie@...]
Sent: Thursday, December 20, 2001 1:40 PM
To: vantage@yahoogroups.com
Subject: [Vantage] Re: WIP A/R Clearing


Hi Nancy,

You know,it's interesting to read the responses I received to this
thread. Our accounting staff has not made much mention about the WIP
A/P Clearing, only the WIP A/R Clearing account. When you suggested
we run the "Received not Invoiced" report, I take it that this is a
standard report that I should be able to find within Vantage? Or, is
it another of those reports that I need to create? All I found was
an "Open Purchase Orders" report.

Our situation is probably different from many of the users in this
group. We manufacture signs and we have been creating the packing
slip after we complete the manufacturing of the sign. We then ship
our signs all over the country for installation and the final signage
may not be installed for another 2 to 6 weeks. This then means that
we will have notified the system that we have "completed" our
product, only to have sent a fake punt. We are about to change our
process by not creating the packing slip until the signs have been
installed, thereby reducing the days until we invoice. What is your
thought?

Jim
Jim McKechnie
General Manager
Signtech Electrical Advertising, Inc.
Phone: (619) 527-6100
jim@...


--- In vantage@y..., "nancyann15301" <nriffle@a...> wrote:
> There are 2 clearing accounts.
> 1) A/P Clearing - this one is very important to keep your receiving
> procedures tight and run the Received Not Invoiced report.
> 2) A/R Clearing - first question would be how did you setup your
> A/R Configuration ..."Use the shipment Date for the Invoice Date"
> this will determine when cost from WIP move to your COS accounts.
> If unchecked it will use your Invoice date...which could be in
> a different period.
>
> Need more information let me know.
>
> --- In vantage@y..., "Wilmoth, Deb" <Deb@r...> wrote:
> > Amen. Responses are slow to come on this subject because it is a
> nightmare
> > to reconcile for a variety of reasons. I believe some folks
don't
> even
> > bother. Some people don't interface inventory to the G/L.
Also,
> you said
> > WIP A/R. I hope you meant A/P when referring to WIP or I'm not
> quite sure
> > what you are asking to reconcile.
> >
> > Do you interface inventory to the general ledger?
> >
> > If your controller would like to e-mail or call me directly, that
> might be
> > more helpful.
> >
> > Deb Wilmoth
> > Controller
> > Reeder & Kline Machine Company, Inc.
> > Vantage 5.0
> >
> >
> > -----Original Message-----
> > From: accelgrp [mailto:RobM@A...]
> > Sent: Thursday, December 20, 2001 8:40 AM
> > To: vantage@y...
> > Subject: [Vantage] Re: WIP A/R Clearing
> >
> >
> >
> > I don't know of any BEST way. Just a lot of grunt work.
> > Personally, I pull the INV/WIP Reconciliation report for the
> clearing
> > account into Excel. Sort/Group by reference and have at it.
> >
> > Rob McFarlin, Controller
> > Accel Group, Inc.
> > RobM@A...
> >
> > --- In vantage@y..., "jrmckechnie" <jrmckechnie@h...> wrote:
> > > Can any of you advise me and our new Controller on your
> procedures
> > > for reconciling the WIP A/R Clearing account each month? We
have
> > 22
> > > pages of activity for one month and we are not sure what is the
> > best
> > > method to reconcile all this information.
> > >
> > > Thank you in advance,
> > >
> > > Jim
> > >
> > > Jim McKechnie
> > > General Manager
> > > Signtech Electrical Advertising, Inc.
> > > jim@s...
> > > (619) 527-6100
> >
> >
> >
> > 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
> >
> > Your use of Yahoo! Groups is subject to
> http://docs.yahoo.com/info/terms/
> >
> >
> >
> > [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

Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/



[Non-text portions of this message have been removed]
At 06:39 PM 12/20/2001 +0000, you wrote:
>When you suggested we run the "Received not Invoiced" report, I take it
>that this is a standard report that I should be able to find within
>Vantage? Or, is it another of those reports that I need to create? All I
>found was

5.0 added an AP report, "received, not invoiced" There are other custom
ones out there for shipped or received not invoiced if you need
them. (think I can scrounge a copy if you need it.)

>We are about to change our process by not creating the packing slip until
>the signs have been installed, thereby reducing the days until we
>invoice. What is your thought?

You'll probably get more accurate costs that way. Esp if you're shipping
from the job rather than inventory (almost certain in your biz?) More
costs will end up in COS rather than variance for the job.

-Wayne Cox
I am so sorry - this is a standard report and can be found in A/P ->
Reports.
I am very familiar with situations like yours. I certainly wouldn't
want to send anything out my back door without documentation.
The questions I would ask is when do you want to recognize the
cost? Seems to me you just need some of your procedures (in & out
of Vantage) tweeked!

--- In vantage@y..., "jrmckechnie" <jrmckechnie@h...> wrote:
> Hi Nancy,
>
> You know,it's interesting to read the responses I received to this
> thread. Our accounting staff has not made much mention about the
WIP
> A/P Clearing, only the WIP A/R Clearing account. When you
suggested
> we run the "Received not Invoiced" report, I take it that this is a
> standard report that I should be able to find within Vantage? Or,
is
> it another of those reports that I need to create? All I found was
> an "Open Purchase Orders" report.
>
> Our situation is probably different from many of the users in this
> group. We manufacture signs and we have been creating the packing
> slip after we complete the manufacturing of the sign. We then ship
> our signs all over the country for installation and the final
signage
> may not be installed for another 2 to 6 weeks. This then means
that
> we will have notified the system that we have "completed" our
> product, only to have sent a fake punt. We are about to change our
> process by not creating the packing slip until the signs have been
> installed, thereby reducing the days until we invoice. What is
your
> thought?
>
> Jim
> Jim McKechnie
> General Manager
> Signtech Electrical Advertising, Inc.
> Phone: (619) 527-6100
> jim@s...
>
>
> --- In vantage@y..., "nancyann15301" <nriffle@a...> wrote:
> > There are 2 clearing accounts.
> > 1) A/P Clearing - this one is very important to keep your
receiving
> > procedures tight and run the Received Not Invoiced report.
> > 2) A/R Clearing - first question would be how did you setup your
> > A/R Configuration ..."Use the shipment Date for the Invoice Date"
> > this will determine when cost from WIP move to your COS accounts.
> > If unchecked it will use your Invoice date...which could be in
> > a different period.
> >
> > Need more information let me know.
> >
> > --- In vantage@y..., "Wilmoth, Deb" <Deb@r...> wrote:
> > > Amen. Responses are slow to come on this subject because it is
a
> > nightmare
> > > to reconcile for a variety of reasons. I believe some folks
> don't
> > even
> > > bother. Some people don't interface inventory to the G/L.
> Also,
> > you said
> > > WIP A/R. I hope you meant A/P when referring to WIP or I'm not
> > quite sure
> > > what you are asking to reconcile.
> > >
> > > Do you interface inventory to the general ledger?
> > >
> > > If your controller would like to e-mail or call me directly,
that
> > might be
> > > more helpful.
> > >
> > > Deb Wilmoth
> > > Controller
> > > Reeder & Kline Machine Company, Inc.
> > > Vantage 5.0
> > >
> > >
> > > -----Original Message-----
> > > From: accelgrp [mailto:RobM@A...]
> > > Sent: Thursday, December 20, 2001 8:40 AM
> > > To: vantage@y...
> > > Subject: [Vantage] Re: WIP A/R Clearing
> > >
> > >
> > >
> > > I don't know of any BEST way. Just a lot of grunt work.
> > > Personally, I pull the INV/WIP Reconciliation report for the
> > clearing
> > > account into Excel. Sort/Group by reference and have at it.
> > >
> > > Rob McFarlin, Controller
> > > Accel Group, Inc.
> > > RobM@A...
> > >
> > > --- In vantage@y..., "jrmckechnie" <jrmckechnie@h...> wrote:
> > > > Can any of you advise me and our new Controller on your
> > procedures
> > > > for reconciling the WIP A/R Clearing account each month? We
> have
> > > 22
> > > > pages of activity for one month and we are not sure what is
the
> > > best
> > > > method to reconcile all this information.
> > > >
> > > > Thank you in advance,
> > > >
> > > > Jim
> > > >
> > > > Jim McKechnie
> > > > General Manager
> > > > Signtech Electrical Advertising, Inc.
> > > > jim@s...
> > > > (619) 527-6100
> > >
> > >
> > >
> > > 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
> > >
> > > Your use of Yahoo! Groups is subject to
> > http://docs.yahoo.com/info/terms/
> > >
> > >
> > >
> > > [Non-text portions of this message have been removed]
Jim-
You need to truly understand what the A/R clearing is doing.
This account is for shipments that have not been invoiced. Invoicing
then moves the cost ($'s) from the clearing account to your COS.

--- In vantage@y..., "jrmckechnie" <jrmckechnie@h...> wrote:
> Hi Nancy,
>
> You know,it's interesting to read the responses I received to this
> thread. Our accounting staff has not made much mention about the
WIP
> A/P Clearing, only the WIP A/R Clearing account. When you
suggested
> we run the "Received not Invoiced" report, I take it that this is a
> standard report that I should be able to find within Vantage? Or,
is
> it another of those reports that I need to create? All I found was
> an "Open Purchase Orders" report.
>
> Our situation is probably different from many of the users in this
> group. We manufacture signs and we have been creating the packing
> slip after we complete the manufacturing of the sign. We then ship
> our signs all over the country for installation and the final
signage
> may not be installed for another 2 to 6 weeks. This then means
that
> we will have notified the system that we have "completed" our
> product, only to have sent a fake punt. We are about to change our
> process by not creating the packing slip until the signs have been
> installed, thereby reducing the days until we invoice. What is
your
> thought?
>
> Jim
> Jim McKechnie
> General Manager
> Signtech Electrical Advertising, Inc.
> Phone: (619) 527-6100
> jim@s...
>
>
> --- In vantage@y..., "nancyann15301" <nriffle@a...> wrote:
> > There are 2 clearing accounts.
> > 1) A/P Clearing - this one is very important to keep your
receiving
> > procedures tight and run the Received Not Invoiced report.
> > 2) A/R Clearing - first question would be how did you setup your
> > A/R Configuration ..."Use the shipment Date for the Invoice Date"
> > this will determine when cost from WIP move to your COS accounts.
> > If unchecked it will use your Invoice date...which could be in
> > a different period.
> >
> > Need more information let me know.
> >
> > --- In vantage@y..., "Wilmoth, Deb" <Deb@r...> wrote:
> > > Amen. Responses are slow to come on this subject because it is
a
> > nightmare
> > > to reconcile for a variety of reasons. I believe some folks
> don't
> > even
> > > bother. Some people don't interface inventory to the G/L.
> Also,
> > you said
> > > WIP A/R. I hope you meant A/P when referring to WIP or I'm not
> > quite sure
> > > what you are asking to reconcile.
> > >
> > > Do you interface inventory to the general ledger?
> > >
> > > If your controller would like to e-mail or call me directly,
that
> > might be
> > > more helpful.
> > >
> > > Deb Wilmoth
> > > Controller
> > > Reeder & Kline Machine Company, Inc.
> > > Vantage 5.0
> > >
> > >
> > > -----Original Message-----
> > > From: accelgrp [mailto:RobM@A...]
> > > Sent: Thursday, December 20, 2001 8:40 AM
> > > To: vantage@y...
> > > Subject: [Vantage] Re: WIP A/R Clearing
> > >
> > >
> > >
> > > I don't know of any BEST way. Just a lot of grunt work.
> > > Personally, I pull the INV/WIP Reconciliation report for the
> > clearing
> > > account into Excel. Sort/Group by reference and have at it.
> > >
> > > Rob McFarlin, Controller
> > > Accel Group, Inc.
> > > RobM@A...
> > >
> > > --- In vantage@y..., "jrmckechnie" <jrmckechnie@h...> wrote:
> > > > Can any of you advise me and our new Controller on your
> > procedures
> > > > for reconciling the WIP A/R Clearing account each month? We
> have
> > > 22
> > > > pages of activity for one month and we are not sure what is
the
> > > best
> > > > method to reconcile all this information.
> > > >
> > > > Thank you in advance,
> > > >
> > > > Jim
> > > >
> > > > Jim McKechnie
> > > > General Manager
> > > > Signtech Electrical Advertising, Inc.
> > > > jim@s...
> > > > (619) 527-6100
> > >
> > >
> > >
> > > 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
> > >
> > > Your use of Yahoo! Groups is subject to
> > http://docs.yahoo.com/info/terms/
> > >
> > >
> > >
> > > [Non-text portions of this message have been removed]
Jim -
Oops I sent my response before I was done -> sorry.

IF you do not have an A/R Clearing identified the cost ($'s) move
directly to your COS account.

--- In vantage@y..., "jrmckechnie" <jrmckechnie@h...> wrote:
> Hi Nancy,
>
> You know,it's interesting to read the responses I received to this
> thread. Our accounting staff has not made much mention about the
WIP
> A/P Clearing, only the WIP A/R Clearing account. When you
suggested
> we run the "Received not Invoiced" report, I take it that this is a
> standard report that I should be able to find within Vantage? Or,
is
> it another of those reports that I need to create? All I found was
> an "Open Purchase Orders" report.
>
> Our situation is probably different from many of the users in this
> group. We manufacture signs and we have been creating the packing
> slip after we complete the manufacturing of the sign. We then ship
> our signs all over the country for installation and the final
signage
> may not be installed for another 2 to 6 weeks. This then means
that
> we will have notified the system that we have "completed" our
> product, only to have sent a fake punt. We are about to change our
> process by not creating the packing slip until the signs have been
> installed, thereby reducing the days until we invoice. What is
your
> thought?
>
> Jim
> Jim McKechnie
> General Manager
> Signtech Electrical Advertising, Inc.
> Phone: (619) 527-6100
> jim@s...
>
>
> --- In vantage@y..., "nancyann15301" <nriffle@a...> wrote:
> > There are 2 clearing accounts.
> > 1) A/P Clearing - this one is very important to keep your
receiving
> > procedures tight and run the Received Not Invoiced report.
> > 2) A/R Clearing - first question would be how did you setup your
> > A/R Configuration ..."Use the shipment Date for the Invoice Date"
> > this will determine when cost from WIP move to your COS accounts.
> > If unchecked it will use your Invoice date...which could be in
> > a different period.
> >
> > Need more information let me know.
> >
> > --- In vantage@y..., "Wilmoth, Deb" <Deb@r...> wrote:
> > > Amen. Responses are slow to come on this subject because it is
a
> > nightmare
> > > to reconcile for a variety of reasons. I believe some folks
> don't
> > even
> > > bother. Some people don't interface inventory to the G/L.
> Also,
> > you said
> > > WIP A/R. I hope you meant A/P when referring to WIP or I'm not
> > quite sure
> > > what you are asking to reconcile.
> > >
> > > Do you interface inventory to the general ledger?
> > >
> > > If your controller would like to e-mail or call me directly,
that
> > might be
> > > more helpful.
> > >
> > > Deb Wilmoth
> > > Controller
> > > Reeder & Kline Machine Company, Inc.
> > > Vantage 5.0
> > >
> > >
> > > -----Original Message-----
> > > From: accelgrp [mailto:RobM@A...]
> > > Sent: Thursday, December 20, 2001 8:40 AM
> > > To: vantage@y...
> > > Subject: [Vantage] Re: WIP A/R Clearing
> > >
> > >
> > >
> > > I don't know of any BEST way. Just a lot of grunt work.
> > > Personally, I pull the INV/WIP Reconciliation report for the
> > clearing
> > > account into Excel. Sort/Group by reference and have at it.
> > >
> > > Rob McFarlin, Controller
> > > Accel Group, Inc.
> > > RobM@A...
> > >
> > > --- In vantage@y..., "jrmckechnie" <jrmckechnie@h...> wrote:
> > > > Can any of you advise me and our new Controller on your
> > procedures
> > > > for reconciling the WIP A/R Clearing account each month? We
> have
> > > 22
> > > > pages of activity for one month and we are not sure what is
the
> > > best
> > > > method to reconcile all this information.
> > > >
> > > > Thank you in advance,
> > > >
> > > > Jim
> > > >
> > > > Jim McKechnie
> > > > General Manager
> > > > Signtech Electrical Advertising, Inc.
> > > > jim@s...
> > > > (619) 527-6100
> > >
> > >
> > >
> > > 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
> > >
> > > Your use of Yahoo! Groups is subject to
> > http://docs.yahoo.com/info/terms/
> > >
> > >
> > >
> > > [Non-text portions of this message have been removed]
Hi Nancy,

Yes, we have pretty much figured what WIP A/R Clearing is doing,
unfortunately, we have a significant balance in it each month because
of the delay from our packing slips to the final invoicing. The
ultimate problem is that if we generate a packing slip today, and
then invoice it late in January of next year, we will have that entry
(or entries) sitting in WIP A/R Clearing when we close our books this
month -- and how do we reconcile 22 pages of entries for this account
without encountering a labor intensive line-by-line accounting? I
guess my next question is why do we need the WIP A/R Clearing account
at all? It sounds like others in this user group don't use it. Is
it something we can just turn off?

The process flow of Vantage appears to me to be designed specifically
for companies that complete a product, ship it, and invoice in a
short window of time. We followed the parameters to the letter and
now find that with our process, we need to wait until we are through
the installation to generate a packing slip (seems a little non-value
added at this point, but that's how the system works!!).

Sorry for getting off on a rant. Thank you for the feedback.

Jim

Jim McKechnie
General Manager
Signtech Electrical Advertising, Inc.
Phone: (619) 527-6100
jim@...


--- In vantage@y..., "nancyann15301" <nriffle@a...> wrote:
> Jim -
> Oops I sent my response before I was done -> sorry.
>
> IF you do not have an A/R Clearing identified the cost ($'s) move
> directly to your COS account.
>
> --- In vantage@y..., "jrmckechnie" <jrmckechnie@h...> wrote:
> > Hi Nancy,
> >
> > You know,it's interesting to read the responses I received to
this
> > thread. Our accounting staff has not made much mention about the
> WIP
> > A/P Clearing, only the WIP A/R Clearing account. When you
> suggested
> > we run the "Received not Invoiced" report, I take it that this is
a
> > standard report that I should be able to find within Vantage?
Or,
> is
> > it another of those reports that I need to create? All I found
was
> > an "Open Purchase Orders" report.
> >
> > Our situation is probably different from many of the users in
this
> > group. We manufacture signs and we have been creating the
packing
> > slip after we complete the manufacturing of the sign. We then
ship
> > our signs all over the country for installation and the final
> signage
> > may not be installed for another 2 to 6 weeks. This then means
> that
> > we will have notified the system that we have "completed" our
> > product, only to have sent a fake punt. We are about to change
our
> > process by not creating the packing slip until the signs have
been
> > installed, thereby reducing the days until we invoice. What is
> your
> > thought?
> >
> > Jim
> > Jim McKechnie
> > General Manager
> > Signtech Electrical Advertising, Inc.
> > Phone: (619) 527-6100
> > jim@s...
> >
> >
> > --- In vantage@y..., "nancyann15301" <nriffle@a...> wrote:
> > > There are 2 clearing accounts.
> > > 1) A/P Clearing - this one is very important to keep your
> receiving
> > > procedures tight and run the Received Not Invoiced report.
> > > 2) A/R Clearing - first question would be how did you setup your
> > > A/R Configuration ..."Use the shipment Date for the Invoice
Date"
> > > this will determine when cost from WIP move to your COS
accounts.
> > > If unchecked it will use your Invoice date...which could be in
> > > a different period.
> > >
> > > Need more information let me know.
> > >
> > > --- In vantage@y..., "Wilmoth, Deb" <Deb@r...> wrote:
> > > > Amen. Responses are slow to come on this subject because it
is
> a
> > > nightmare
> > > > to reconcile for a variety of reasons. I believe some folks
> > don't
> > > even
> > > > bother. Some people don't interface inventory to the G/L.
> > Also,
> > > you said
> > > > WIP A/R. I hope you meant A/P when referring to WIP or I'm
not
> > > quite sure
> > > > what you are asking to reconcile.
> > > >
> > > > Do you interface inventory to the general ledger?
> > > >
> > > > If your controller would like to e-mail or call me directly,
> that
> > > might be
> > > > more helpful.
> > > >
> > > > Deb Wilmoth
> > > > Controller
> > > > Reeder & Kline Machine Company, Inc.
> > > > Vantage 5.0
> > > >
> > > >
> > > > -----Original Message-----
> > > > From: accelgrp [mailto:RobM@A...]
> > > > Sent: Thursday, December 20, 2001 8:40 AM
> > > > To: vantage@y...
> > > > Subject: [Vantage] Re: WIP A/R Clearing
> > > >
> > > >
> > > >
> > > > I don't know of any BEST way. Just a lot of grunt work.
> > > > Personally, I pull the INV/WIP Reconciliation report for the
> > > clearing
> > > > account into Excel. Sort/Group by reference and have at it.
> > > >
> > > > Rob McFarlin, Controller
> > > > Accel Group, Inc.
> > > > RobM@A...
> > > >
> > > > --- In vantage@y..., "jrmckechnie" <jrmckechnie@h...> wrote:
> > > > > Can any of you advise me and our new Controller on your
> > > procedures
> > > > > for reconciling the WIP A/R Clearing account each month?
We
> > have
> > > > 22
> > > > > pages of activity for one month and we are not sure what is
> the
> > > > best
> > > > > method to reconcile all this information.
> > > > >
> > > > > Thank you in advance,
> > > > >
> > > > > Jim
> > > > >
> > > > > Jim McKechnie
> > > > > General Manager
> > > > > Signtech Electrical Advertising, Inc.
> > > > > jim@s...
> > > > > (619) 527-6100
> > > >
> > > >
> > > >
> > > > 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
> > > >
> > > > Your use of Yahoo! Groups is subject to
> > > http://docs.yahoo.com/info/terms/
> > > >
> > > >
> > > >
> > > > [Non-text portions of this message have been removed]
At 11:05 PM 12/20/2001 +0000, you wrote:
>Yes, we have pretty much figured what WIP A/R Clearing is doing,
>unfortunately, we have a significant balance in it each month because
>of the delay from our packing slips to the final invoicing. The

Using the A/R clearing account is supposed to make this work more
smoothly. I have not experimented with it extensively, but we had an
Epicor consultant (Dave Schlafman) in recently and his explanation makes it
sound like a Good Thing, and we are now using it with 5.0.

With the account defined as a place holder, you will always get COS and A/R
for a period in sync, with the un-invoiced things in the clearing
account. Even if you always invoice the same day, the clearing account can
help give visibility to shipments that may have been overlooked.

>Is it something we can just turn off?

Just leave the field blank in Company Config -> AR and things dump
directly into COS, like pre 5.0.

-WC