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In the following example, we refer to trailers. However, any item you sell to customers where each item is treated as a separate product could be set up the same way. Set up G/L accounts for trailer sales, trailer purchases and trailer inventory. ...
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Pre-bill is different from vendor prepay in that you receive an invoice up front for the product. To account for this in Agvance: Add a purchase invoice for the product with the value of the prebill. This will put the product value in inventory. ...
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The following is the best way to get the portion the company uses out of inventory and expensed to the appropriate account. Add your company as a customer and invoice this "customer" for the product at cost. At the payment on account screen, discou...
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To understand Summarized Inventory (non-transactional) Posting’s effect on the Income Statement, it is important to know how functions within Agvance affect the cost of sales accounts. The sales total on the Sales Register report should directly cor...
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The recommended method for accounting for inventory that has been protected at the end of the season is as follows: Enter a negative Purchase Invoice for the credited product. Enter a positive Purchase Receipt for the product that is still on-han...
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There are three possible ways to transfer a Worldpay payment from one customer to another: Enter a negative payment on the customer account the payment was applied to (the wrong customer) using an Adjustment Pay Method. Post the payment to Unappli...
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Add a new Invoice with a negative Quantity that matches the previously saved Invoice at the old price and a matching positive Quantity for the new price. In the Comments area, enter ‘Price Adjustment’ to clarify the purpose of the Invoice. ...
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When a customer puts a bill on the Farm Plan account, the merchant pays the Invoice with a Farm Plan type payment which moves the A/R off the merchant's books and onto John Deere's. Depending on the merchant's contract with John Deere, if the custom...
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Voiding or reversing the original Invoice is the quickest way to issue a credit for a Prepay Invoice. If this is not a feasible option, a new Invoice will need added using negative quantities. If the product was prepaid using a product specific Boo...
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To reprint a COD invoice, go to Accounting / A/R / Invoice . Highlight the invoice and select Reprint . COD Invoices require a payment immediately upon saving the invoice. If a COD invoice is canceled on the Print Invoice Documents window, the ...