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9th August 2006 - Newsletter 146Please read and distribute amongst your staff.
Again we concentrate on tidying up how eAccounts integrates to the GL Financials the following
Customer Indent Field In Stock FinancialsUnder Stock Enquiry when you click “Financials” with a Stock item loaded you will see a new column called “Customer Indent” against each of the last 12 months. This field shows the amount of stock purchased in via Supplier Ordering specifically for customers. We needed this information to ensure our automated calculations for Minimum & Maximum stock that utilise the average Sale PTD data were not being were not skewed by indent orders. Of course this is also useful info to know out of X units sold how many were purchased specifically for customers directly !
Sales Redirection and Internal Charge InvoicingeAccounts Order processing system is capable of doing some really smart things to get around some really messy issues to do with goods leaving the shop floor that aren’t being sold or dealing with forward charging services (non stock) onto customers or staff.
Some examples eAccounts can now easily handle
- Invoicing an Internal Customer account (i.e Engineering Dept) for tools taken for use in the workshop.
(The customer account wont be billed but the goods will be deducted from stock and charged against workshop expenses)- Invoicing an Customer account (ie Promotions & Donations) for product given away for the local school fundraising.
(The customer account wont be billed but the goods will be deducted from stock and charged against Advertising)- Invoicing an Customer account (ie Damaged Stock) for product that is now unable to be sold.
(The customer account wont be billed but the goods will be deducted from stock and charged against Stock Destroyed)or
- Invoicing a staff member for the petrol they purchased for their private use through the company (they have a company fuel charge card)
(The staff account gets updated but no Sales or Cost Of Sales account is effected so therefore the GP is not effected)- Invoicing another company for their Sublease from you.
(The Leasee’s account gets updated but no Sales or Cost Of Sales account is effected so therefore the GP is not effected)or
- We want one (or maybe a few) particular stock item’s to update a specified GL Sales account that are different to how all the others update.
All these special invoice options can be setup by following our Help guide on the topic Keyword = REDIRECTION or INTERNAL
Perpetual Inventory ImprovementsPerpetual Inventory which is working flawlessly for many of our customers has now been improved even more. It now separates out your “Cost of Sales” into two types
ie “Cost Of Sales (Invoice) and Cost Of Sales (Adjust) by doing this we are now able to better control or understand adjustments eAccounts does automatically when self balancing your Stock system to the GL each midnight.
What Is Perpetual Inventory I Hear You SayPerpetual Inventory is a means of calculating your cost of sales daily in an autonomous fashion. In older GL financial setups and done by many accountants since the invention of double entry bookkeeping was to calculate cost of sales at the end of each period or year by :
[Opening Stock for Period] + [Purchases] – [Closing Stock for Period] = Cost Of Sales
In eAccounts you of course do this but its very manual (requiring you to do nasty calculations and key in journal entries) there are many other negatives to this :
- You cannot run a Profit & Loss in real time (any day of the year)
- Your Stock On Hand is never correct in the GL
- You cannot ever see you true Gross Profit in real time in the GL
- You are unable to determine the value of goods received into stock under packing slips and don’t have an Invoice yet.
But many eAccounts customers now do is use our Perpetual Inventory option. With this turned on the following happens :
- Stock in the General Ledger always matches the true value in the Stock system.
- You can check your Gross Profit in your GL in real time.
- You can print an accurate Profit & Loss anytime (no waiting until after the end of period)
- It also shows a contingency value under Current Liabilities for Stock Received into stock on packing slips (no Invoice)
If your business is running our General Ledger and have an accurate Stock system (no point unless your stock is live) is not running perpetual Inventory please call us to have this setup.
Debtors Trial Balance By GroupThe Debtors Trial Balance can now printed and Subtotaled in Debtor Group Order, the means we can now generate a Trial balance by :
Customer Code
Customer Name
Salesperson (and subtotaled, assigned to customer)
Debtor Area (and subtotaled)
And now ….. Debtor Group (and subtotaled)
Re-Aging An Invoice In DebtorsSometimes in very rare instances you may want to change the aging of an Invoice on a debtors account.
This can now be achieved by raising a Journal to that invoice with the text AGE1, AGE2 etc in the reference, you don’t need to have an amount so leaving this as zero will not actually create a transaction.
Fine Tuning The Min & Max Rule Option In The Stock MasterSome of you are now using the automated Min/Max calculating system to manage your recommended ordering. Another problem encountered is that if a product is on a promotion (ie Monthly Special from your supplier) the Min / Max you may need to hold, needs to be raised temporarily this can be achieved by the new rule against each stock item.
Can Be Automated In Stock Group (Normal)
Permanently Disabled
Disable Until A Special Expires (The Automate Again)The “Permanently Disabled” option allows you to have a group set to automatically calculate Min/Max based on the rule set under Maintain Groups.
The “Disable Until A Special Expires” allows you to set the Min/Max manually to allow for a pending or running special. BUT when a special expires it will revert back to automatic calculations. Please note here that if the Special is not loaded yet (ie the special is for next month) then we are still able to adjust the Min/Max because the “Disable Until A Special Expires” rule will only revert back when a special actually expires.
Period Summary under StatisticsUnder the “End of Period” button you have always had the ability to see the End Of Period totals for Debtors, Stock, Monthly Sales, Creditors etc. This was great but often you have your systems configured so that only certain staff have access to the End Of Period function (so they don’t accidentally #%@^!& it up)
We have now moved all that powerful information to its own sub-button under Statistics, this means this information is now available to those who have access to statistics but not have access to the “End of Period” process.
Sales Integrity Check under StatisticsThis is another new Sub-button under Statistics, what it does is shows the YTD & PTD totals in real time for the core sales data files. All the numbers should be the same and it gives us a quick place to look to prove that – hence it’s a Sales Integrity Check on eAccounts !
Different Specials iPagesFor those of you that run our Shopping Basket system and have weekly or Monthly specials this is a new feature you may be interested in. Up until now when you load up a special it automatically went to a predefined Specials Page. Now you will see there is a Specials Page in the Stock Master, if you fill this in (its optional) the special will show on that specified page. This means you can have multiple specials pages ie
Red Wine Specials
Blue Wine Specials
Green Wine Specials etcWhen the special ends (end of week or month) the monthly specials $$$ drops out as well as the Page code under Specials Page (if specified) making the product no longer show under the specials page on your website or Shopping Basket.
After hours (emergencies only) Ph Neil on 021 921188 or email neil@eaccounts.co.nz
The Team, Neil, Mark and Mike
(and our consultants Lee, Peter)
Phone
neil@eaccounts.co.nz mark@eaccounts.co.nz mike@eaccounts.co.nz peter@eaccounts.co.nz
Copyright © eAccountsGlobal 2005