database support team
DESCRIPTION
Database Support Team. Advanced Accounting 2005. Database Support Team. 2 Favorite Menu Paths: 4.1.9 19.7b. Database Support Team. ft Create a folder on C drive” pick Enter “ft” at any printer select prompt Will be called “ft.txt” in C:\\pick Text file or convert to Excel format. - PowerPoint PPT PresentationTRANSCRIPT
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Database Support Team
Advanced Accounting
2005
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Database Support Team
2 Favorite Menu Paths:
4.1.9
19.7b
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Database Support Team
ft
Create a folder on C drive” pick
Enter “ft” at any printer select prompt
Will be called “ft.txt” in C:\\pick
Text file or convert to Excel format
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Database Support Team
Accuterm settings
If users available – multiple ports
Turn on Scroll Bar
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Database Support Team
Menu 13.20
New Accounts Payable – Vouchering
(handouts)
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Database Support Team
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Database Support Team
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Database Support Team
Reoccurring Vouchers
Enter 13.20.8
Listing 13.20.9
Update 13.20.10
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Database Support Team
EFTs
Journal EntriesEFT function
Checks
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Database Support Team
Inventory Reconciliation
(handouts)
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Detail
Database Support Team
Summary
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Database Support Team
Impact General Ledger (Summary)? YES NO
Receive in Inventory XVoucher/Accounts Payable XMonth End Journal Entries X
Summary
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Database Support Team
Impact General Ledger (Detail)? YES NO
Receive in Inventory XVoucher/Accounts Payable XMonth End Journal Entries X
Detail
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Database Support Team
Average Cost
QOH x Average Cost
PLUS
Difference on Invoice vs. PO
_________________________________
QOH
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Database Support Team
QOH = 10
Average Cost = $14.00ea
PO = 10 @ $14.00ea
Vendor Invoice = 10 @ $12ea
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Database Support Team
Average Cost
QOH x Average Cost (10 * $14)
PLUS
Difference on Invoice vs. PO (10*$12) – (10*14)
_________________________________
QOH (10)
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Database Support Team
Average Cost
140
PLUS
-20
_________________________________
10
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Database Support Team
Average Cost
120/10 = New Average Cost
$12 each
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Database Support Team
Voucher Widget for $100 / Billed $100
Inventory Accounts Payable
100.00 100.00
Detail
Summary
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Database Support Team
Voucher Widget for $100 / Bill for $125 / No QOH
Inventory Accounts Payable
100.00 125.00Summary
PPV
25.00
Detail
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Database Support Team
Voucher Widget for $100 / Bill for $125 / QOH
Inventory Accounts Payable
125.00 125.00Summary
Average Cost of product is updated
Detail
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Database Support Team
Benefits
Accurate reflection of Gross Profit by month
Accurate reflection of Gross Profit by part
Accurate reflection of Net Income
No large inventory adjustments at year end
Better handle on inventory value and turns
Average Cost reflects true cost
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Database Support Team
Clear Receivers
Use Menu 13.20.2 and 13.20.3
Run Menu 13.20.7 at month end and use for reversing Journal Entry
Inventory XXXXX Inv. Accr XXXXX
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Database Support Team
13.20.2 versus 13.20.3
•Inventory Evaluation
•CORP Discrepancies
•Only works on DC invoices
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Database Support Team
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Database Support Team
PO – ordered/received 4 @$23.81Invoice 4 @ $29.071QOH = 5Curr Avg Cost = $23.81
Calculation(4*$29.071) -(4* $23.81) = $21.044
$21.044 + (5* $23.81) = $119.05
$119.05/5 = $28.018
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Database Support Team
Other Things to Consider….
Re-opening POs
Warranty’s Impact
Dropships
Store Returns
Stock Adjustments
Buyback
Non-Inventory Items (Z95 items)
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Database Support Team
Reopening ReceiversSTOP!
If you do it – have to reopen the first & only receiver on the PO
OR
It throws out your AP/GL Reconciliation
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Database Support Team
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Database Support Team
Costing
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Database Support Team
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Database Support Team
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Database Support Team
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Database Support Team
SRO/RGA
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Database Support Team
Open Discussion – Discrepancies
Corp – PricingNonCorp – Pricing
Corp ShippingNonCorp Shipping
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Database Support Team
Menu 15
Warranty
(handouts)
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Database Support Team
1 Credit Memo (m1.2) 10 12 12 10
2 Warranty Update (ME) 10 10
3 Create Claim (m15.3) 10 10
CREDIT REC'D
4 Post Credit-Claim (m15.10) 15 15
5 Voucher Credit (m13.20.1) 25 25
RECEVING
4 Replacement (m15.11) 10 10
Inven Sales A/R COGS Warr Pend Warr A/R Warr Discrep A/P
WidgetAvg. cost = $10Sale Price = $12Credit from Vendor = $25
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Database Support Team
EOM Balancing
•Unclaimed Warranties•Claimed Warranties – AR
•Inventory?
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Database Support Team
Menu 8.4
Stock Adjustments
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Database Support Team
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Database Support Team
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Database Support Team
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Database Support Team
Buyback / Returns
(handout)
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Database Support Team
DST Documentation
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Database Support Team
Open Discussion – Discrepancies
Corp – PricingNonCorp – Pricing
Corp ShippingNonCorp Shipping
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Database Support Team
Dropships
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Database Support Team
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Database Support Team
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Database Support Team
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Database Support Team
Z95 ITEMS
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Database Support Team
Open Discussion – Discrepancies
Receiving?$0 Cost
Co-Op FundInvoice/Stock Adjusment
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Database Support Team
Physical Inventory
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Database Support Team
Be sure to make note of the final variance amount that you update since you will need to make the journal entry on the books to balance the detail to the summary. You
hit inventory and an income statement account with this variance amount.
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Database Support Team
Menu 11
Sales Analysis
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Database Support Team
Reporting Variances
Different Sales files capture different things*Customer detail file
Variances*Freight*Misc Charges*Branch Sales*Returns
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Database Support Team
LIVE EXAMPLE 12.2.2.2
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Database Support Team
Menu 2
Accounting Reports
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Database Support Team
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Database Support Team
Menu 13.3
Accounting Reports
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Database Support Team
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Database Support Team
Bank Reconciliation
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Database Support Team
Bank Reconciliation
8. Activity Report – Summary of Deposits, Disbursements, Adjustments and Journal Entries
9. Reconciliation Entry – Input of Checks cleared on last bank statement. Enter as a range or individually.
10. Reconciliation Listing – Itemization of checks entered in 13.20.9 as well as outstanding checks and outstanding checks greater than 90 days.
Bank Rec Documentation
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Database Support Team
Menu 14
General Ledger
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Database Support Team
Set-up a GL account
12.4.3
14.1.1
Add to financial statements
LIVE EXAMPLE
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Database Support Team
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Database Support Team
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Database Support Team
Creating a Journal Entry
1. Enter JE 14.1.3 or 14.1.4
2. Print & Review JE 14.1.13 & 14.1.14
3. Update Trial Balance 14.2.4
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Database Support Team
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Database Support Team
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Database Support Team
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Database Support Team
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Database Support Team
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Database Support Team
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Database Support Team
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Database Support Team
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Database Support Team
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Database Support Team
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Database Support Team
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Database Support Team
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Database Support Team
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Database Support Team
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Database Support Team
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Database Support Team
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Database Support Team
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Database Support Team
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Database Support Team
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Database Support Team
EOY Close
(handout)
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Database Support Team
1.AR Month-end close rolls into Year End*Confirm with DST
2.Close 12th month AP
3.Close year AP*MUST happen before entries for new year
4.Close 12th month GL*Manually Rollover NI
5.Close year GL *NO 13th month
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Database Support Team
Intercompany Accounting
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Database Support Team
Open Discussion – Multi-Stores
ARInventory Transfers
General Ledger
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Database Support Team
Menu 28.
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Database Support Team
Menu 28
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Database Support Team
Menu 4.3
Service Charges
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Database Support Team
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Database Support Team
FAQs
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Database Support Team
Questions
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Database Support Team
Upgrades Pending
2005.2
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Database Support Team
Upgrade Suggestions
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Database Support Team
Session Evaluations
&
Conference Evaluations
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Database Support Team
THANK YOU!