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I believe I may be on to something but I am not sure how to fix it.
I see that in Feb 2016 suddenly the Inventory Assets are starting to down with items being sold on Invoices. Where as before they were not in 2014 & 2015.
A lot of the time we invoice items to customers before the item is actually invoiced to us. And I DO HAVE the option in setup to "Allow Negative Inventory" checked.
In example we invoice a customer for 3 of "Item A" when they order it and then we order it and later after the item has arrived we enter a Direct Supplier Invoice for 3 of "Item A" and then we pay the invoice to our supplier. So the quantity of "item A" will decrease possibly into the negative at the time the customer invoice is created and then be brought back into the positive when we receive the items.
Our Inventory Validation Report looks close to accurate but the Inventory Assets in the Balance Sheet and COGs for the year are what is showing up with far off numbers.
So do you think the negative Inventory issue is what is fowling up the GL balances? And if so what if anything can I do to fix it?
Thanks in advance for any help!!
Joe,
Over here in the U.S. accountants act like if you don't use QuickBooks they can't help you. Is there anyone you can recommend that would help look at this for me. My inventory is increasing and decreasing by quantity and I was able to get the COG amount closer by performing some inventory adjustments, however if I do a balance sheet drill down it shows my Inventory Assets way high. And when I drill down in there it shows they increase but do not decrease. I have the Item set up with the standard accounts as outlined in the wiki for item type "Purchased".
If you know of someone that would be able to look at this and make a suggestion or help me in any way please let me know.
Thanks,
Rob
I am running version 2.3.18 and I have looked in the chart of accounts and it makes not sense to me what so ever. If you look at the balance sheet for the end of 2014 it shows an inventory asset of $ 100,000 where we may and if you drill down into that you can see the transactions adding the amounts where inventory was purchased but it doesn't appear it takes away the inventory asset then it is sold. And then under COG in the Profit and Loss it shows no where near enough.
What I need is for someone who knows more what they are doing than I do to look a this and tell me what needs to be done. Does anyone know of someone who would be willing for a fee to look at this for me?
Thanks to anyone who can help!
Me inventory items are tracking quantities very well and I have the items I track quantities of set up with the standard default values when I set the items up. My services are set up differently as they should be so that they do not get counted as inventory.
I don't understand why I have purchased so many items and yet Cost Of Goods shows a very low balance? The inventory is going in and out like it ought to, but it seems I'm not showing that we are spending as much as we actually are. Right now my COG for the year shows 18,000 and it should be more like 118,000 or more.
Is there someone out there that would be willing to look my system over and tell me where I went wrong? I have spent a lot of time going over it and it has me beat.
Ok so we have suppliers that we purchase items from and when I do a Direct Invoice under Suppliers and then go to Payments to Suppliers and pay it that seems to work.
But fordoing quick transactions like simply paying the electric bill, if I go to Banking and General Ledger and click on Payments and choose the supplier and select the Utilities account it posts and the expense shows up in Utilities HOWEVER then if I go to the supplier it has generated a credit!
I thought the purpose for being able to enter a payment this way under Banking and General Ledger was to be able to do a one step transaction and not need to go enter an invoice and then enter a payment for regular utility bills and such.
Am I doing something wrong, or does this just not work this way?
I have read over as much as I can find and cannot find an answer on how to handle loan payments and interest I have a loan set up as a bank account and with it's own account under Long Term Liabilitys.
I see that the loan is visible in the account transfers now, so I assume I can make payments that way.
However can someone tell em how I will post the Interest Charges from the bank to the loan?
Thanks in advance for all your help!!
Rob
Would really love the ability to go back and edit invoices to add / subtract / change items without having to completely void out the invoice and recreate the whole thing.
Can this be made available as an Extension in Front Accounting? For those of us who do not use bitbucket or github.... Something that would be as easy to install and activate as other Extensions.
We use Direct Supplier's Invoice to post incoming parts. The "Supplier's Reference Number" being a required field is a real inconvenience for us. We don't use reference numbers from our suppliers. can we do away with that being a required field somehow?
Thanks!
Great!
Any instructions on how to get this to work would be very appreciated!!
I installed the module "Check Printing based on Tom Hallman, USA" and activated it without incident. However the alignment isn't right and I don't see how to change the alignment / positioning. For instance the date is in the wrong place for normal checks in the USA.
Can anyone explain to me how to adjust this?
I am trying use Front Accounting in hte U.Sl in Virginia. The problem I have is that it wants to show tax included. In Virginia itmes have prices and the tax is added to the price at invoice time provideing that itme and cusatomer are taxible.
My problem is that it keeps showing the tax included instead of adding the tax to the price..
PLEASE HELP!!
Posts found: 12
