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When setting up Inventory items the thing to
keep in mind is how you want to ‘mine’ the
information for these items as they are
purchased and sold.
Knowing what fields are stored in history as
well as what fields give you ‘sorts’ or ‘print
by’s’ when generating reports will greatly
assist you in setting up Inventory Items.
· Item type is ‘non-serialized’ for all
standard items you are keeping up with
quantities for. Item type ‘serialized’ is for
those items that have serial numbers tied to
them. Item type ‘service’ items can be sold but
they can not be purchased. There is no cost
associated with service items.
· Sales
Category identifies the market you sell
groups of items to and helps you analyze sales.
The Sales Category Codes are used to sort
historical information generated in Accounts
Receivable.
· Product Lines identify a larger
category than the item fits in. For example if
you sell 50 different types of brooms you would
assign the same Product Line to all of them.
Many reports within the Inventory application
allow you to specify product line. Lookups can
be by Product Lines. Product Lines can also be
used when setting up promotional pricing.
· Locations can be set to represent
warehouses where the items are stored, or
separate areas of the same warehouse. They can
also represent Raw Materials vs Finished Goods.
Items can quickly be moved from Location to
Location as the items move through your process
or line. Additional costs can be added during
each Location move. Most any report in any
application that references Inventory items
allows you to ‘mine’ your data by Location.
Keeping this in mind may allow you additional
reporting capabilities.
· Account Codes define the General Ledger
Accounts that will be posted to when this item
is Purchased, Sold, Counted, Adjusted, or Moved.
Account Codes are assigned to an item within a
Location. This allows for the same item to post
to different General Ledger Accounts from within
different Locations.
· User Defined Fields can be set up for
anything about an item that you need to define
for each item. First define the User Field with
a description and select whether or not it is
sorted or required. Set up values that can be
used within the specific User Defined Field that
you set up. For example a User Defined Field
could be set up for Color. Next you would set up
all the various colors the items could be.
Inventory Movement, Item Sales, Price,
Valuation, Variance, and Transaction Reports can
be run by specific colors. User Defined Fields
are meant to be specific to your needs.
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Within the Inquiry
Menu of Accounts Payable, Accounts Receivable,
and Inventory you will find Summary History.
This allows you to
quickly see what you have spent, what your
customer has spent, and what has been purchased
and sold by Inventory Item.
Simply enter the
Vendor, Customer or Item ID and the year you
wish to look at. By period within that year the
total dollar amount transacted during each
period will appear. This gives you a very quick
and concise look at a particular Vendor,
Customer or Item.
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This new version will have over 130 new features
that OSAS users have been asking for. Here are a
few of the expected features:
1. Lock General Ledger periods to prevent
accidental posting to closed periods
2. Secure sensitive information within vendor,
customer, item, employee, and job/phase
maintenance files with enhanced access codes.
3. Deliver invoices, statements, and purchase
orders optionally by fax
4. Handle larger vendor invoice numbers with
15-character field lengths.
5. Enter and track pre-payments on purchase
orders.
6. Handle larger customer check numbers in cash
receipts using 10-character field lengths.
7. Import budgets from Excel into the General
Ledger budget.
8. Import General Ledger transactions from
spreadsheets and outside payroll companies into
the General Ledger.
9. Specify default sales representatives by
ship-to address.
10. Improved Return Merchandise Authorization
tracking
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When entering data
into past periods it’s sometimes easier to just
change your workstation date to the last day of
the month. Having the workstation date on the
date/month/period you are working in can keep
you from accidentally entering an incorrect date
or period.
Something to
consider though is that all the General Ledger
postings will reflect both the Transaction date
and the Post date as the same date.
If you do not
change the workstation date and enter
transactions then the Post Date will reflect the
ACTUAL date the entries were made and the
Transaction Date will reflect the
day/month/period you are entering.
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Both Sales Order and Purchase Order
have a ‘Requested Ship Date’ Field for each line
item on the invoice or order.
When entering your line items in
either Sales or Purchase Order enter the
requested ship date on each line of the order.
The Purchase Order Open Order Report
allows you to selected Requested Ship Dates From
and Thru so you can report on Open Orders that
fall within that date range.
The Sales Order Open Order Report
allows you to ‘Sort By’ the Requested Ship
Dates.
Running reports that show when goods
will be received or when goods are needed to
ship to customers can certainly assist you with
scheduling for both incoming and outgoing goods
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OSAS does allow you
to ‘edit’ Journal Entries posted from any
application, or entered and written as General
Ledger Entries.
To edit ‘un-posted’
entries go to General Ledger, Transactions, Edit
transactions. Once inside ‘edit transactions’ if
you know the transaction number of the entry you
want to change (transaction numbers can be found
when running the GL Journal or the GL Activity
Report) select “Go to” and enter the transaction
number.
With your cursor
next to the transaction you want to change press
enter. If this transaction came from any other
application besides General Ledger you will be
prompted with the message “warning this is not a
manual, recurring, or reversing entry”. Press
enter at the warning to edit this transaction.
If editing a dollar amount always make sure you
have changed BOTH sides of the transaction.
While
editing your journal transactions may be a quick
fix for correcting the General Ledger please
note that it does not make any corrections to
the applications that these entries may have
posted out of. For example if you changed a
Period in an AP transaction it is only changed
in General Ledger it is still the original
Period and Date and amount in the Accounts
Payable history. This can create discrepancies
when comparing and Aged Trial Balance Report to
the corresponding General Account Number. Use
Editing Transactions with CAUTION.
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Most of us have completed our 2009 year end tax
reporting. With that said it is now time for a
little clean up.
The
Open Invoice File in both Accounts Receivable
and Accounts Payable actually contain all
invoices ever entered, whether paid or not, if
you have not purged your Paid Invoices
recently.
The
purpose of keeping these Paid Invoices in the
Open Invoice File is so that Aged Trial Balances
can be run for past periods. This is very handy
when you have gone several months past year end
and still need to go back and run Aged Trial
Reports that match your General Ledger back at
year end.
But, left to accumulate for years and years the
Open Invoice File with all the Paid invoices can
slow down your Prepare Payments function as well
as month end processing.
Purging ONLY Paid Invoices will remove those
Paid invoices only, leaving all Detail and
Summary History intact. Performing this purge
when year end is complete will clean up this
file, speed up your processing and reduce the
size of this ever growing file.
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