Accounts Payable & General Ledger

1. Accounts Payable& General Ledger Kathleen Graw

2. Accounts Payable & General Ledger

3. Accounts Payable

4. Accounts Payable & General Ledger

5. Detail Summary Accounts Payable & General Ledger

6. At Year/Quarter/Month End Cost of Goods XXXXX Inventory XXXXX Cost of Goods Gross Profit Net Income Accounts Payable & General Ledger

7. Inventory & General Ledger Impact General Ledger (Summary)? YES NO X • Receive in Inventory • Voucher/Accounts Payable • Month End Journal Entries X X Accounts Payable & General Ledger

8. Inventory & General Ledger Impact Inventory (Detail)? YES NO X • Receive in Inventory • Voucher/Accounts Payable • Month End Journal Entries X X Accounts Payable & General Ledger

9. ControlAverage Cost

10. Detail Balance Summary and Detail 1. Voucher Widget for $100 / Billed $100 Inventory Accounts Payable Summary 100.00 100.00 Accounts Payable & General Ledger

11. Detail Balance Summary and Detail 1. Voucher Widget for $100 / Bill for $125 / No QOH Inventory Accounts Payable Summary 100.00 125.00 PPV 25.00 Accounts Payable & General Ledger

12. Detail Balance Summary and Detail 1. Voucher Widget for $100 / Bill for $125 / QOH Inventory Accounts Payable Summary 125.00 125.00 Average Cost of product is updated Accounts Payable & General Ledger

13. Benefits…to begin with • 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 Accounts Payable & General Ledger

14. How…clear your receivers • Use Menu 13.20.1 and 13.20.2 • Don’t use Menu 13.20.3 • Run Menu 13.20.7 at month end and use for reversing Journal Entry Inventory XXXXX Inv. Accr XXXXX Accounts Payable & General Ledger

15. Also…things to consider • Warranty’s impact • Impact of Core Charges • Stock Adjustments • Buyback • Non-Inventory items (Z95 items) • C99 Accounts Payable & General Ledger

16. Merchandise vs. Expense & Balancing vs. Non-Balancing For Open Batches Finalizing Activities Invoices for Corp Packets Accounts Payable & General Ledger

17. Daily/Month End Functions Newer Items Inquiries Year End Functions Accounts Payable & General Ledger

18. Obsolete with 13.20 Recurring Functions Used to Maintain or Delete Voucher Washout? Run Regularly Information Reports Accounts Payable & General Ledger

19. Aging of Payables Reversing/Voiding Printing Checks Bank Reconciliation Accounts Payable & General Ledger

20. Accounts Payable & General Ledger

21. General Ledger

22. Set-up/Edit Financials Opening Balance + Deposits – Disbursements = Bank Balance Obsolete Year End Close; Follow Steps 1-7 Check GL, AR and AP dates. Also 12.1.27 Run Financial Statements (only after 14.2.4) Obsolete Accounts Payable & General Ledger

23. Accounting Reports Listing of Month’s Journal Entries MUST be run before 14.3.8 Detail & Summary of GL Month End Functions Accounts Payable & General Ledger

24. Recurring Journal Entries – Enter, Maintain, List & Update Set-up in 12.4 Reversing Journal Entries & Listing (update) Journal Entries & Listing (update) Budget Entry & Listing Accounts Payable & General Ledger

25. Questions?