Activant SDI Daily Transactions and Balancing your INVALUE report to the General Ledger

Transcription

1 Activant SDI Daily Transactions and Balancing your INVALUE report to the General Ledger Balancing Your INVALUE Report to your GL suite course 2 of 3

2 This class is designed for Accountants or Bookkeepers charged with the task of analyzing the Inventory Value report and comparing to the General Ledger Balance Users who need to know the flow of costs in and out of the General Ledger

3 Overview Purchase Order Processes Inventory Accrual Sales Order Processes Cycle Counting Processes Inventory Adjustment Process

4 Objectives Understand what makes the entries to the General Ledger Review the inventory reports daily for discrepancies Troubleshoot and find errors to rectify the variances

5 This course will NOT cover Basic accounting principles

6 Purchase Order Receiving Process A Day s Work in a Day Receive the Purchase Order into the System Maintain the Receiver if necessary POCOSTCHK the receiver

7 Purchase Order Receiving Process PURCHASE ORDER IS RECEIVED INTO THE SYSTEM INVALUE REPORT POOPNRCVR REPORT GENERAL LEDGER

8 INVALUE report no transfers Inventory value report will not show transfers unless they have been pre-received

9 INVALUE transfer pre-received Note the column PRE-RECEVIED on the INVALUE report. Its value is totaled separately from the value of merchandise still in stock

10 POOPNRCVR sample report POOPNRCVR normally run at end of month Lists un-received credit purchase orders in a separate section Option to post to general ledger

11 Cost Check and Interface to AP and GL Receiving and Cost Checking the Invoice or Credit Memo Interfacing to Accounts Payable which in turn Interfaces to General Ledger

12 Inventory Accrual Generating the Inventory Accrual to General Ledger Do not count transfers Does take into concern returns to vendors

13 Account Number Setup I V / P O G. L. N U M B E R M T N (V)OID [ ] DELETE [ ] COMPANY P21 DIVISION 010 GL#/SUBSID GL#/SUBSID IV SALES - DIRECT ^305[ ] PO ACCOUNTS PAYABLE ^200[ ] IV SALES - WAREHOUSE ^300[ ] PO SALES TAX EXPENSE ^210[ ] IV COST OF SALES - D ^405[ ] PO FREIGHT IN ^410[ ] IV COST OF SALES - W ^400[ ] PO CASH ^100[ ] IV/PO INVENTORY - D ^121[ ] PO SMALL VAR (NOT RE-AVG) ^422[ ] IV/PO INVENTORY - W ^120[ ] PO C.O.G.S. W/INCORRECT AVG ^401[ ] IV ACCOUNTS RECEIVABLE ^110[ ] PO ADJUSTMENT TO VENDOR INV ^420[ ] IV SALES TAX INCOME ^210[ ] PO THIRD PARTY FREIGHT ^221[ ] IV FREIGHT OUT ^500[ ] PO OPEN RECEIVER ACCRUAL ^220[ ] IV MISCELLANEOUS AMOUNT ^520[ ] IV RESTOCKING FEE ^530[ ] IV COMMISSION COST ^399[ ] IV COMMISSION PAYABLE ^230[ ] IV SALES - WASHOUT ^399[ ] IV SPECIAL ALLOWANCE ^460[ ] IV DAMAGED GOODS ^470[ ] IV INVENTORY ADJUSTMENT ^480[ ] G.L. Combine Code [ ] IV CM/NO RESTOCK ^450[ ] IV S/C INCOME ^390[ ]

14 Sales Process When the interface processes the monthly information, it reads through two main files IVFMTDREG file holds the detail of each invoice total invoice amount, cost of merchandise, sales tax, freight, and other various items IVCODIVCAT file holds the sales and cost of sales for each category/class for the month

15 Sales Process The interface reads the monthly invoice register file to Gather information Accounts receivable totals, sales tax, freight, etc Reads the company, division, and category/class file Values for sales, cost of sales, and inventory amounts

16 Inventory Counting Physical Inventories Daily Cycle Counting Both have same results on General Ledger and the Inventory

17 Physical Inventory Counting Usually Performed once a year INCOUNTUP updates the inventory and the General Ledger Offset posting is made to the Cost of Goods Account Be sure to post to proper accounting period

18 OEENTRY Inventory Adjustments Adjustment to on hands Adjustment to on hands for damaged goods Account number set up in IVGLNOMTN Posts to General Ledger via IVGLINTFC

19 Summary Reports to Review Daily Sales Process Inventory Adjustment Processes

20 For More Information Visit Activant on the web: distribution.activant.com View Educational Services course offerings Browse Documentation Search the Solutions database Submit a Support case Professional Services Sales pss@activant.com

21 Balancing Your INVALUE Report to your GL suite Operations and Troubleshooting Tips Where to look for errors? How to correct errors and implement new procedures.