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Roll-Thru Payment on Account

Last Updated: 03/27/2024 in Knowledge Base Accounting Accounts Receivable Payments

Following is a description of the Invoice Roll-Through Payment on Account window: Gross – This is the total amount due on the Invoice and cannot be changed. Disc – The calculated discount on the Invoice displa...
Post Inventory to GL - Accrue Estimated Payables for Purchase Receipt

Last Updated: 03/27/2024 in Knowledge Base Accounting General Ledger Inventory Posting

Costing Method Transactional or Summarized Accrue Estimated Payable Company Owned Calculation Estimated Average Cost T Y Not reduced by PRs Estimated Average Cost S Y Not reduced...
Add Purchase Order Request

Last Updated: 03/27/2024 in Knowledge Base Accounting Inventory Purchasing Purchase Order Requests

The Purchase Order Request is an approval process for the purchase of specific Products. Once the request is entered, approval or denial must be done by a user set as a PO approver . Approvers must first be set up. Approved requests ma...
Inco Terms

Last Updated: 03/26/2024 in Knowledge Base Accounting Inventory Purchasing Purchase Orders

Inco Terms may optionally be set up for use on Purchase Orders at Accounting / Setup / Inventory / Inco Terms . Code – Enter the 3-character Inco Term code. Description – Enter the description for the Inco Term. ...
Reconciling Estimated Freight from Purchase Receipt

Last Updated: 03/26/2024 in Knowledge Base Accounting Inventory Purchasing Purchase Receipts

If Estimated Freight is reconciled from Purchase Receipts instead of Purchase Invoices, the Freight Reconciliation Summary report can be used to verify the Estimated Freight Liability account balance. It is important that freight be reconciled on a...
Employer HSA Contributions

Last Updated: 03/26/2024 in Knowledge Base Accounting Payroll Payroll End of Periods

These contributions must be reported on W-2s. At Accounting / End of Periods / Print EOY Tax Forms / W-2’s on the Setup tab, there is not a deduction to select which represents the employer’s contribution since this money was ...
1099-PATR Box 6 Considerations

Last Updated: 03/26/2024 in Knowledge Base Accounting End of Periods End of Year

If the company will be reporting Domestic Production Activities Deduction (DPAD) (1099-PATR box 6), below are some items that should be discussed with the auditor and suggestions for options on the Domestic Product Report found in Agvance at Grain\...
End of Year 1099-PATR Box 3 Considerations

Last Updated: 03/26/2024 in Knowledge Base Accounting End of Periods End of Year

If the company will be reporting Per-Unit Retain Allocations (1099-PATR Box 3), below are some items that should be discussed with the auditor and suggestions for options on the Domestic Product Report found in Agvance at Grain / Grain Reports / ...
Front Office Accounting End of Month Checklist

Last Updated: 03/26/2024 in Knowledge Base Accounting End of Periods End of Month

Agvance assumes there are 12 fiscal months within the fiscal year. The end of month process saves the balances (Customers, Vendors, G/L Accounts, Inventory Products, etc.), and increments the fiscal month counter. It sets important data markers and ...
EOY G/L Budget Options

Last Updated: 03/26/2024 in Knowledge Base Accounting End of Periods End of Year

No Budget Options If nothing is checked, then all budget options – Current Budget , Forecast , Next Year Budget – will transfer to the new year unchanged. New year’s budget numbers will be as follows: Curren...