Thanks guys. The recent issue will be solved when the credit card statement gets entered.
I will resolve the 2003 issue (a $70 40Gb disk - not likely to be selling any more of those) by "purchasing" a $0 item. The sales tax statement for the year shows that we already accounted for the item so the State should be happy. The COGS was correctly identified by the system so I think the P/L should stay the same too. Paul Chris Travers wrote: > > > On Dec 4, 2007 4:25 PM, Paul Wrightson <[EMAIL PROTECTED] > <mailto:[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] > <mailto:[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 > <http://altfarm.mediaplex.com/ad/ck/8857-50307-18918-4> > _______________________________________________ > Ledger-smb-users mailing list > [email protected] > <mailto:[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
