FrontAccounting forum — How to enter purchases of non-inventory stock or services

Re: How to enter purchases of non-inventory stock or services

null@example.com (itronics) — Thu, 10 Jun 2010 13:53:19 +0000

Set 'Service' type on every item in your inventory. That's all.
You can print all entered invoices under Customer Trnasactions Enquiry or Customer and Sales Reports.
Janusz

Re: How to enter purchases of non-inventory stock or services

null@example.com (sfunds) — Thu, 10 Jun 2010 12:25:15 +0000

Hi,
ours is Service oriented Industry. There are no inventory
How do u use Front accounting .

Also how do i take print of old invoices (search old invoice )
Thanks

Re: How to enter purchases of non-inventory stock or services

null@example.com (thhui) — Wed, 02 Jun 2010 15:36:59 +0000

I reproduce the same example in my windows enviroment and
found that
if I use the purchaeses model first to buy non-inventory items S01,
the accounting entry is OK
It debits COS and credit Trade Credtors.

Then I post the sales of non-inventory items S01
The sales part is also OK.
It debits Trade Debtors and credit Sales.

Thanks joe!

Re: How to enter purchases of non-inventory stock or services

null@example.com (thhui) — Wed, 02 Jun 2010 14:18:00 +0000

My version is the latest v2.2.9
and it is running in Linux

Re: How to enter purchases of non-inventory stock or services

null@example.com (joe) — Wed, 02 Jun 2010 13:44:30 +0000

Which version of FA are you running? We had some problems here half a year ago.
It is very important that the Item Type is set to Service. With the current version, I cannot reproduce this error.

/Joe

Re: How to enter purchases of non-inventory stock or services

null@example.com (thhui) — Wed, 02 Jun 2010 11:13:55 +0000

For service type, we can only modify its
Sales and COGS Account in GL.

We cannot modify its Inventory and Inventory Adjustment Account.

Nevertheless, I set up the Sales and COGS Account
but the purchases of services types inventory only results
in debit inventory and credit to credtors.

Pls help!

Re: How to enter purchases of non-inventory stock or services

null@example.com (joe) — Wed, 02 Jun 2010 09:03:22 +0000

No it is not, but you must set the correct COGS account for the service item and, of course, it must be of type Service.

The module is called Revenue / Costs Accruals and is located on the page Download Modules at the very last.

/Joe

Re: How to enter purchases of non-inventory stock or services

null@example.com (thhui) — Wed, 02 Jun 2010 08:12:41 +0000

Futher than above,

If I use the PO to enter the order of services items,
and then I deliver
and finally come to invoice,

I found the journal behind is debiting the inventory account and
crediting the Trade Creditors account.

Is it right for service item to be in the inventory instead of cost of sales?

Re: How to enter purchases of non-inventory stock or services

null@example.com (thhui) — Wed, 02 Jun 2010 08:09:31 +0000

What is the eact name of the module implemeting Accrual Accounting?

I just can't find it in the download section.

Pls help.

Thanks joe a lot!!!

Re: How to enter purchases of non-inventory stock or services

null@example.com (joe) — Mon, 31 May 2010 21:11:12 +0000

There is no problem entering purchase of (non stock) items in purchase.

Direct delivery and Direct Invoice in purchashing section is implemented in release 2.3. (Shipping soon in beta).

Accrual accounting can be done by installing a simple module from the download section.

The inventory items can be selected by the item selector above in the Inventory and Items tab, Items. Then they can be edited and saved back again.

/Joe

How to enter purchases of non-inventory stock or services

null@example.com (thhui) — Mon, 31 May 2010 15:59:43 +0000

Is this the same as in sale of non-inentory stcok?

But I just can't find Direct Delivery as in Sales.

Pls advise the most simple way to deal with matters
like accrual of electricity bill or
payment by credit of Fixed Assets.

Beside, how to edit the inventory item I enter it by typo mistake.
I can't find the way to view and edit it.

Thanks in advance!!!