This report can be used for reconciling any of the GL accounts Acctivate works with but it was designed to specifically reconcile the Accrued Purchase Receipts account in QuickBooks. This can often be a very challenging task and we hope this report will help in your efforts. This report shows both the ins and outs into an account where the standard Acctivate Inventory Detail Journal Report does not. Knowing both what came into an account and what went out is critical in your reconciling process and this report helps you do just that.
If you are having a difficult time reconciling your Accrued Purchase Receipts account? Contact us to purchase this report and make things a little easier during that reconciliation process.
We recently converted one of our clients from a different accounting system; where things are done quite a bit different than they are in QuickBooks®. Once we got them up and running, they went off on their merry way. It wasn’t long however, before we realized that we need to spend a little time on training. Prepaying for an order is quite a different process in QuickBooks® than in their previous system, in order to do this properly here is what you need to do…
- Create a Purchase Order for the items
- Create another current asset account, name it “Prepaid Inventory,” or something similar
- Enter charges for the item, either by writing a check or entering a credit card charge. When QuickBooks® identifies open purchase orders for the vendor, do not select the purchase order.
- On the Expenses tab of the check or credit card charge, click the Account field. Choose the current asset account that you created in step 2.
- Save the transaction
To receive the items
- Find the check or credit card transaction you created above
- On the Expenses tab, select the line that contains your current asset account created earlier
- Go to the Edit menu and click Delete Line
- Click on the Items tab
- Click Select PO
- Click the purchase order you created in the ordering steps above and then click OK
- If necessary, record additional expenses on a new check or credit card charge. Don’t add additional expenses to the existing check or credit card charge
- Save the transaction
I came across a client who was having trouble printing a packing list, in QuickBooks® Enterprise 2010, that displayed only one of the items on an invoice. Here was there question followed by our answer.
Q: I have a Sales Order that has three items on it. Two of the items are being drop shipped from two separate vendors and the third item is coming out of our inventory. I have created an Estimate with all three items on it. I then created the required Purchase Orders from that Estimate, followed by a Sales Order. When I was ready to Invoice the customer I wanted to print a Packing Slip that contained only the one item coming out of our stock, however it shows all three Items. How can I print a Packing Slip with only the one Item, but still include all three on the Invoice?
A: While there may be more than one way to skin this cat this is how we handle the situation. Do everything the way you are up until it comes time to create the Invoice. From the Sales Order click on the Create Invoice button and when prompted to create and Invoice of all Items or selected Items, chose selected Items and enter a quantity for the Item you want to appear on the Packing List and change the other Items to 0 (zero), click Okay. Note that all the Items appear on the Invoice, but only the one Item has a quantity in the Invoiced column, the Item you want to print a Packing List for. Go to Print and print your Packing List, only the one Item will be visible. After you have successfully printed the Packing List go into the Invoice and change the value in the Invoiced column to the total number you intend to Invoice for, Save and Close.
Why doesn’t my inventory appear in the drop ship section of the inventory module in Fishbowl?
This is a question we recently fielded from one of our clients. After some review, we uncovered a training issue. The folks in charge of inventory thought that because the default location for a part was a location called “Drop Ship”; this should make it appear in the Drop Ship section of the inventory module. This isn’t so.
To properly drop ship an item you must add that item to a sales order. Then you need to double-click on each line item you want to drop ship, changing the type of item from “Sale” to “Drop Ship”. This selection is located in the top right corner of the window that opens after you double-click. Once you save and issue the Sales Order, a Purchase Order is automatically created for each needed vendor. Please note that for this to work you must go into the part module and specify a default vendor. Once the Purchase Order is created, all you need to do is go in and set the ship-to address on the Purchase Order to the proper address. Your inventory will now show in the Drop Ship section within the Inventory Module.
And that is how to properly drop ship items within Fishbowl Inventory.