On Dec 4, 2007 4:25 PM, Paul Wrightson <[EMAIL PROTECTED]> wrote:
> 1 item purchased on Credit Card and invoiced to customer - card
> statement not received yet, so we have not entered the purchase. This
> one should be solved when it gets entered.
>
> The second item is way back from 2003 when I was using SL (it was a 2.X
> version - I have no clue which). It looks like someone bought a disk for
> cash and the company sold it as part of a PC repair job. The engineer
> submitted the disk on an expense report - it looks like it was entered
> as COG-Hardware but not entered into inventory. Did SL have inventory
> back then??
Yeah, but it might have been a GL transaction rather than an AP one.
In that case, I would probably go and do the $0 purchase of the item. In
essence, your books are closed for that date, so you don;t really want COGS
to be adjusted anyway.
Best Wishes,
Chris Travers
>
> Paul
>
> Chris Travers wrote:
> >
> >
> >
> >
> > This would increment the number on hand up to zero, but I am not
> > sure of
> > any GAAP repercussions!!
> >
> >
> > It would also associate $0 cost of goods sold with the last purchase
> > of the part. This may not be desirable, and might also make you pay
> > additional taxes since your COGS would be underreported. I would
> > probably not make a habit of correcting things this way. You want to
> > have a good idea why this is occurring.
> >
> >
> > Best Wishes,
> > Chris Travers
> > ------------------------------------------------------------------------
> >
> >
> -------------------------------------------------------------------------
> > SF.Net email is sponsored by: The Future of Linux Business White Paper
> > from Novell. From the desktop to the data center, Linux is going
> > mainstream. Let it simplify your IT future.
> > http://altfarm.mediaplex.com/ad/ck/8857-50307-18918-4
> > ------------------------------------------------------------------------
> >
> > _______________________________________________
> > Ledger-smb-users mailing list
> > [email protected]
> > https://lists.sourceforge.net/lists/listinfo/ledger-smb-users
> >
>
>
> -------------------------------------------------------------------------
> SF.Net email is sponsored by: The Future of Linux Business White Paper
> from Novell. From the desktop to the data center, Linux is going
> mainstream. Let it simplify your IT future.
> http://altfarm.mediaplex.com/ad/ck/8857-50307-18918-4
> _______________________________________________
> Ledger-smb-users mailing list
> [email protected]
> https://lists.sourceforge.net/lists/listinfo/ledger-smb-users
>
-------------------------------------------------------------------------
SF.Net email is sponsored by: The Future of Linux Business White Paper
from Novell. From the desktop to the data center, Linux is going
mainstream. Let it simplify your IT future.
http://altfarm.mediaplex.com/ad/ck/8857-50307-18918-4
_______________________________________________
Ledger-smb-users mailing list
[email protected]
https://lists.sourceforge.net/lists/listinfo/ledger-smb-users
