Re: Product purchases question

["Joshua D. Drake" <..hidden..>]

Chris Travers wrote:
> Our community content repository is still under development.

However, people are free to create accounts on it:

http://wiki.ledgersmb.org

If they have specific ideas of what they would want, please let me knwo
and I can give them the rights within the cms to do so.

J


> 
> Leah Kubik has donated a wiki at
> http://ledgersmb.frauerpower.com/index.php/Main_Page
> 
> Best Wishes,
> Chris Travers
> 
> On 3/14/07, Matt Jackson <..hidden..> wrote:
>> Mr. Travers,
>>
>> Thank you for the information. Most helpful.
>>
>> What is the quickest/easiest way to set up a wiki for LedgerSMB? Can this be
>> done on SourceForge under the existing project page?
>>
>> If so, and it is not already done, I would like to spend some time
>> transcribing the PDF documentation into such a documentation wiki, in order
>> that any one of us would be able to add clarifications and elaborations such
>> as the ones you've just given me "on the fly," which can then be translated
>> later back into a more fully fleshed-out PDF document.
>>
>> Please advise on the existing systems' ability to do this.
>>
>> Regards,
>> Matt Jackson
>>
>>
>>
>>
>> On 3/14/07, Chris Travers < ..hidden..> wrote:
>>> On 3/14/07, Matt Jackson < ..hidden..> wrote:
>>>> Hello all.
>>>>
>>>> I am trying to train myself in LedgerSMB and am confused on a few
>> points. My
>>>> business is retail, I order goods from vendors to sell over the
>> internet. I
>>>> am just going to ask the questions one at a time, so I don't trip over
>>>> myself.
>>>>
>>>> 1. I would like to enter an order for product I have made, paid for and
>>>> received from a vendor.
>>>>
>>>> Do I use
>>>> - "AP > Add Transaction"?
>>>> - "AP > Vendor Invoice"?
>>>> - or should I use something more like "Order Entry > Purchase Order"?
>>> A purchase order is an agreement to purchase a product.  It does not
>>> constitute a purchase.  IANAL, but I wonder if a purchase order one
>>> one side combined with a quotation on the other could constitute a
>>> contract.
>>>
>>> A vendor invoice is used to purchase products and services of defined
>>> values.  This affects inventory control where appropriate.
>>>
>>> An AP Transaction adds expenses to your books.  Classic uses might be
>>> the purchase of a business license, hiring an accountant or an
>>> attourney, etc.
>>>
>>> There is a receiving interface that allows you to mark items in the
>>> Purchas Order as having arrived for invoice.
>>>
>>> Does that help?
>>>> What are the distinctions? I am afraid the manual has a flowchart to it
>> (pg.
>>>> 28), but I am not grasping how to "move" these things from one status to
>>>> another...what is the procedure?
>>>>
>>>> I guess from the above in my case, if I were:
>>>>
>>>> - entering an old, paid, received shipment of goods from a vendor, I
>> would
>>>> just start with the AP invoice (being "last in line" in the flowchart)
>> and
>>>> mark it paid.
>>> RIght.  This adds the items into your inventory.
>>>> - entering a new paid but not received invoice, enter a purchase order
>> and
>>>> move through the steps of the pg 28 flowchart.
>>> Technically right.
>>>
>>> Invoices should be due when the goods are received, but sometimes, you
>>> may have to pay up-front.  I tend to use invoices for this just
>>> because we don't have a better way of doing that at the moment.  For
>>> AP invoices, I do not think this violates GAAP (IANACPA) because if
>>> anything it will show more expenses than  might be accrued and
>>> therefore would err on the side of conservatism.  For AR invoices, I
>>> think you could run into GAAP issues if you bill customers in this way
>>> before you receive the money.
>>>
>>> HTH,
>>> Chris Travers
>>>
>>>
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>>
>> --
>> Regards,
>> Matt
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> 
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