1. Accounts Payable & General Ledger Kathleen Graw

2. Accounts Payable & General Ledger2

3. Accounts Payable

4. Accounts Payable & General Ledger4

5. 5 Detail Summary

6. Accounts Payable & General Ledger6 At Year/Quarter/Month End Cost of GoodsXXXXX InventoryXXXXX Cost of Goods Gross Profit Net Income

7. Accounts Payable & General Ledger7 Inventory & General Ledger Impact General Ledger (Summary)? YES NO 1.Receive in Inventory 2.Voucher/Accounts Payable 3.Month End Journal Entries X X X

8. Accounts Payable & General Ledger8 Inventory & General Ledger Impact Inventory (Detail)? YES NO 1.Receive in Inventory 2.Voucher/Accounts Payable 3.Month End Journal Entries X X X

9. Control Average Cost

10. Accounts Payable & General Ledger10 Balance Summary and Detail 1. Voucher Widget for $100 / Billed $100 InventoryAccounts Payable 100.00 Detail Summary

11. Accounts Payable & General Ledger11 Balance Summary and Detail 1. Voucher Widget for $100 / Bill for $125 / No QOH InventoryAccounts Payable 100.00125.00 Summary PPV 25.00 Detail

12. Accounts Payable & General Ledger12 Balance Summary and Detail 1. Voucher Widget for $100 / Bill for $125 / QOH InventoryAccounts Payable 125.00 Summary Average Cost of product is updated Detail

13. Accounts Payable & General Ledger13 Benefits…to begin with Accurate reflection of Gross Profit by month Accurate reflection of Gross Profit by part Accurate reflection of Net Income No large inventory adjustments at year end Better handle on inventory value and turns Average Cost reflects true cost

14. Accounts Payable & General Ledger14 How…clear your receivers Use Menu 13.20.1 and 13.20.2 Don’t use Menu 13.20.3 Run Menu 13.20.7 at month end and use for reversing Journal Entry Inventory XXXXX Inv. AccrXXXXX

15. Accounts Payable & General Ledger15 Also…things to consider Warranty’s impact Impact of Core Charges Stock Adjustments Buyback Non-Inventory items (Z95 items) C99

16. Accounts Payable & General Ledger16 For Open Batches Merchandise vs. Expense & Balancing vs. Non-Balancing Finalizing Activities Invoices for Corp Packets

17. Accounts Payable & General Ledger17 Inquiries Newer Items Daily/Month End Functions Year End Functions

18. Accounts Payable & General Ledger18 Obsolete with 13.20Used to Maintain or Delete Voucher Run RegularlyInformation ReportsWashout?Recurring Functions

19. Accounts Payable & General Ledger19 Aging of Payables Printing Checks Bank Reconciliation Reversing/Voiding

20. Accounts Payable & General Ledger20

21. General Ledger

22. Accounts Payable & General Ledger22 Opening Balance + Deposits – Disbursements = Bank Balance Check GL, AR and AP dates. Also 12.1.27 Year End Close; Follow Steps 1-7 ObsoleteSet-up/Edit Financials Run Financial Statements (only after 14.2.4) Obsolete

23. Accounts Payable & General Ledger23 Detail & Summary of GL MUST be run before 14.3.8 Listing of Month’s Journal Entries Month End Functions Accounting Reports

24. Accounts Payable & General Ledger24 Set-up in 12.4 Journal Entries & Listing (update) Reversing Journal Entries & Listing (update) Recurring Journal Entries – Enter, Maintain, List & Update Budget Entry & Listing

25. Questions?