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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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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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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 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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If the free product is given as a type of compensation for a customer appreciation meeting, the value of this product should be posted into a promotional/advertising account without affecting the current average cost of the free product. This can be...
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The quantity of the non-grower(s) is divided between the designated growers using the following formula: Total quantity for each grower for each split line item divided by overall total quantity for all growers for the line item = that grower's pe...
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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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The following steps outline Agvance’s process to populate the Salesperson field on an Invoice created by importing an Energy Ticket: The Energy Tank for the salesperson is referenced first. If a salesperson does not exist on the Tank, the Ship ...
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If the fiscal year does not end on December 31st, when ending the fiscal month that corresponds to December, all vendor 1099 information is erased. In most cases, it is recommended to run the 1099s before ending December. However, there is a way to...
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Enter the net cost of the product (initial product cost - commission) by using the Agvance add-on charge functionality. Setting up the Add-on Add an asset G/L account that represents the commission receivable. Add a product classification for co...