A/R clearing out of balance

Yahoo Archive
1
The only time our A/R clearing has a balance is when there is a packing
slip left un invoiced.



Thanks,



Stephanie Geary

Controller
Triumph Fabrications - Shelbyville

sgeary@...

Office: 317/398-6684

Fax: 317/392-5006

________________________________

From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf
Of Randy
Sent: Friday, November 20, 2009 11:25 AM
To: vantage@yahoogroups.com
Subject: [Vantage] Re:A/R clearing out of balance







Help!

We found we have the same problem and have several thousand dollars left
in the account from January. All of the jobs appear to have been closed
on 1/30/09. It appears that the cause was someone doing a WIP capture
and Post on 2/2/09 but she put the Ending date of 1/30/09. Would this
cause these transactions to remain unposted? She says she changes the
date so that the costs are put into the prior period. Is this necessary?

Help - I have to explain to my boss several thousands of dollars of
losses that we had not known about until today.

thanks in advance

Randy Weber

--- In vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com> , "Jim
Frice" <Jim.Frice@...> wrote:
>
> If you are on 6.1 try creating a report builder report to pick up
these
> transactions. We did this using the part tran table. You will see two
> date fields that you can use. One is the sysdate and one is transdate.
A
> quick simple filter using the >= and the <= can get you the
transactions
> that typically cause this. In 6.1 we used sysdate >= start date of new
> period and trandate <= end date of period closing.
>
> Jim
>
> ________________________________
>
> From: vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com>
[mailto:vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com> ] On
Behalf
> Of Lori Davies
> Sent: Friday, February 06, 2009 2:12 PM
> To: 'vantage@yahoogroups.com <mailto:%27vantage%40yahoogroups.com> '
> Subject: [Vantage] Re:A/R clearing out of balance
>
>
>
> We have had this happen when a packing slip gets dated outside of the
> current WIP period. During the capture and post of WIP, there is no
> option to modify the date/period of these transactions. To check to
see
> if this is your issue try running a Inventory/WIP Account
Reconciliation
> Report (from Job Management section). The earliest start date I can
use
> is 01/01/70 (we are on 6.10). For and end date, I usually select the
> date of our last closed period. Specify your A/R clearing account
number
> and check the box to include offsetting accounts. Select Only Unposted
> to G/L transactions. If your issue is a date issue, this report will
> provide you with the necessary information for a journal entry to
> correct the account. (Vantage support says that to fix the issue, you
> can open the period & rerun the capture and post process; however, if
> you have published financials, you need to journal entry it out of the
> period it posted to and journal it into the curre nt period, so we
have
> not bothered to reopen periods to post.) If checking closed dates does
> not produce anything, you may have to check future dates (the highest
> end date our system allows is 12/31/69).
>
> [Non-text portions of this message have been removed]
>
>
>
>
>
> ----------------------------------------------------------
>
> William Frick & Co's SmartMarkT RFID Named to 2008 Top Ten Products
List
>
>
> [Non-text portions of this message have been removed]
>




This message has been processed via your triumphgroup.com e-mail
address.



[Non-text portions of this message have been removed]
2
We are trying to find out how we are 30K out of balance when there
was nothing in the Shipped not Invoiced at the month closing. I
checked to see if any parts accidentally had that chart, also checked
the expense account on all receipts to see if somehow a misc PO was
put in with that account. Nothing. Any clue where to look next.
3
May I assume you have looked at a detailed General Ledger report for that account?

You could take that GL report, and investigate each item in journal tracker to see what the details are behind each transaction posted to that account. By cross matching the detail debits and credits you should be able to see what is missing an offsetting transaction.

Also, the Inventory/WIP Reconciliation report may shed some light on the issue, but I believe it will only show you the shipped items, not the related invoice detail..

Thom Rose
Controller
Electric Mirror LLC
HOTEL LUXURY

"The World Leader in Back-lit Mirrors & Mirror TV Technology"

T 425 776-4946
F 425 491-8200
A 11831 Beverly Park Rd, Bldg D, Everett, WA 98204 USA
www.electricmirror.com<http://www.electricmirror.com>

Note: The information contained in the e-mail, including any attachments, is legally privileged and confidential. If you are not the intended recipient you are hereby notified that any reading, use or dissemination of this message is strictly prohibited. If you have received this message in error, please immediately notify us by telephone at 425-776-4946 and delete this message from your system. Even though this e-mail and any attachments are believed to be free of any virus or other defect that might affect any computer system into which it is received and opened, it is the responsibility of the recipient to ensure that it is virus free, and no responsibility is accepted by Electric Mirror LLC for any loss or damage arising in any way from its use


From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf Of Michael McWilliams
Sent: Friday, February 06, 2009 9:36 AM
To: vantage@yahoogroups.com
Subject: [Vantage] A/R clearing out of balance


We are trying to find out how we are 30K out of balance when there
was nothing in the Shipped not Invoiced at the month closing. I
checked to see if any parts accidentally had that chart, also checked
the expense account on all receipts to see if somehow a misc PO was
put in with that account. Nothing. Any clue where to look next.



[Non-text portions of this message have been removed]
4
Did you check if someone has back dated a transaction? A common
occurrence for us as we often have items drop shipped from a supplier
but don't receive paperwork until a few days after month end put we
haven't posted our Invty/wip yet.

Jim

________________________________

From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf
Of Thomas Rose
Sent: Friday, February 06, 2009 11:58 AM
To: vantage@yahoogroups.com
Subject: RE: [Vantage] A/R clearing out of balance



May I assume you have looked at a detailed General Ledger report for
that account?

You could take that GL report, and investigate each item in journal
tracker to see what the details are behind each transaction posted to
that account. By cross matching the detail debits and credits you should
be able to see what is missing an offsetting transaction.

Also, the Inventory/WIP Reconciliation report may shed some light on the
issue, but I believe it will only show you the shipped items, not the
related invoice detail..

Thom Rose
Controller
Electric Mirror LLC
HOTEL LUXURY

"The World Leader in Back-lit Mirrors & Mirror TV Technology"

T 425 776-4946
F 425 491-8200
A 11831 Beverly Park Rd, Bldg D, Everett, WA 98204 USA
www.electricmirror.com<http://www.electricmirror.com
<http://www.electricmirror.com> >

Note: The information contained in the e-mail, including any
attachments, is legally privileged and confidential. If you are not the
intended recipient you are hereby notified that any reading, use or
dissemination of this message is strictly prohibited. If you have
received this message in error, please immediately notify us by
telephone at 425-776-4946 and delete this message from your system. Even
though this e-mail and any attachments are believed to be free of any
virus or other defect that might affect any computer system into which
it is received and opened, it is the responsibility of the recipient to
ensure that it is virus free, and no responsibility is accepted by
Electric Mirror LLC for any loss or damage arising in any way from its
use

From: vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com>
[mailto:vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com> ] On
Behalf Of Michael McWilliams
Sent: Friday, February 06, 2009 9:36 AM
To: vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com>
Subject: [Vantage] A/R clearing out of balance

We are trying to find out how we are 30K out of balance when there
was nothing in the Shipped not Invoiced at the month closing. I
checked to see if any parts accidentally had that chart, also checked
the expense account on all receipts to see if somehow a misc PO was
put in with that account. Nothing. Any clue where to look next.

[Non-text portions of this message have been removed]





--------------------------------------------------------------------------

William Frick & Co's SmartMarkT RFID Named to 2008 Top Ten Products List


[Non-text portions of this message have been removed]
5
THere are two transactions that show up in the tracker that have no
date at all. They are about 2 cents from the variance. Not sure how
something gets posted without a Date.

--- In vantage@yahoogroups.com, "Jim Frice" <Jim.Frice@...> wrote:
>
> Did you check if someone has back dated a transaction? A common
> occurrence for us as we often have items drop shipped from a
supplier
> but don't receive paperwork until a few days after month end put we
> haven't posted our Invty/wip yet.
>
> Jim
>
> ________________________________
>
> From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On
Behalf
> Of Thomas Rose
> Sent: Friday, February 06, 2009 11:58 AM
> To: vantage@yahoogroups.com
> Subject: RE: [Vantage] A/R clearing out of balance
>
>
>
> May I assume you have looked at a detailed General Ledger report
for
> that account?
>
> You could take that GL report, and investigate each item in journal
> tracker to see what the details are behind each transaction posted
to
> that account. By cross matching the detail debits and credits you
should
> be able to see what is missing an offsetting transaction.
>
> Also, the Inventory/WIP Reconciliation report may shed some light
on the
> issue, but I believe it will only show you the shipped items, not
the
> related invoice detail..
>
> Thom Rose
> Controller
> Electric Mirror LLC
> HOTEL LUXURY
>
> "The World Leader in Back-lit Mirrors & Mirror TV Technology"
>
> T 425 776-4946
> F 425 491-8200
> A 11831 Beverly Park Rd, Bldg D, Everett, WA 98204 USA
> www.electricmirror.com<http://www.electricmirror.com
> <http://www.electricmirror.com> >
>
> Note: The information contained in the e-mail, including any
> attachments, is legally privileged and confidential. If you are
not the
> intended recipient you are hereby notified that any reading, use or
> dissemination of this message is strictly prohibited. If you have
> received this message in error, please immediately notify us by
> telephone at 425-776-4946 and delete this message from your
system. Even
> though this e-mail and any attachments are believed to be free of
any
> virus or other defect that might affect any computer system into
which
> it is received and opened, it is the responsibility of the
recipient to
> ensure that it is virus free, and no responsibility is accepted by
> Electric Mirror LLC for any loss or damage arising in any way from
its
> use
>
> From: vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com>
> [mailto:vantage@yahoogroups.com <mailto:vantage%
40yahoogroups.com> ] On
> Behalf Of Michael McWilliams
> Sent: Friday, February 06, 2009 9:36 AM
> To: vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com>
> Subject: [Vantage] A/R clearing out of balance
>
> We are trying to find out how we are 30K out of balance when there
> was nothing in the Shipped not Invoiced at the month closing. I
> checked to see if any parts accidentally had that chart, also
checked
> the expense account on all receipts to see if somehow a misc PO was
> put in with that account. Nothing. Any clue where to look next.
>
> [Non-text portions of this message have been removed]
>
>
>
>
>
> -------------------------------------------------------------------
-------
>
> William Frick & Co's SmartMarkT RFID Named to 2008 Top Ten
Products List
>
>
> [Non-text portions of this message have been removed]
>
6
We have had this happen when a packing slip gets dated outside of the current WIP period. During the capture and post of WIP, there is no option to modify the date/period of these transactions. To check to see if this is your issue try running a Inventory/WIP Account Reconciliation Report (from Job Management section). The earliest start date I can use is 01/01/70 (we are on 6.10). For and end date, I usually select the date of our last closed period. Specify your A/R clearing account number and check the box to include offsetting accounts. Select Only Unposted to G/L transactions. If your issue is a date issue, this report will provide you with the necessary information for a journal entry to correct the account. (Vantage support says that to fix the issue, you can open the period & rerun the capture and post process; however, if you have published financials, you need to journal entry it out of the period it posted to and journal it into the current period, so we have not bothered to reopen periods to post.) If checking closed dates does not produce anything, you may have to check future dates (the highest end date our system allows is 12/31/69).


[Non-text portions of this message have been removed]
7
If you are on 6.1 try creating a report builder report to pick up these
transactions. We did this using the part tran table. You will see two
date fields that you can use. One is the sysdate and one is transdate. A
quick simple filter using the >= and the <= can get you the transactions
that typically cause this. In 6.1 we used sysdate >= start date of new
period and trandate <= end date of period closing.

Jim

________________________________

From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf
Of Lori Davies
Sent: Friday, February 06, 2009 2:12 PM
To: 'vantage@yahoogroups.com'
Subject: [Vantage] Re:A/R clearing out of balance



We have had this happen when a packing slip gets dated outside of the
current WIP period. During the capture and post of WIP, there is no
option to modify the date/period of these transactions. To check to see
if this is your issue try running a Inventory/WIP Account Reconciliation
Report (from Job Management section). The earliest start date I can use
is 01/01/70 (we are on 6.10). For and end date, I usually select the
date of our last closed period. Specify your A/R clearing account number
and check the box to include offsetting accounts. Select Only Unposted
to G/L transactions. If your issue is a date issue, this report will
provide you with the necessary information for a journal entry to
correct the account. (Vantage support says that to fix the issue, you
can open the period & rerun the capture and post process; however, if
you have published financials, you need to journal entry it out of the
period it posted to and journal it into the curre nt period, so we have
not bothered to reopen periods to post.) If checking closed dates does
not produce anything, you may have to check future dates (the highest
end date our system allows is 12/31/69).

[Non-text portions of this message have been removed]





--------------------------------------------------------------------------

William Frick & Co's SmartMarkT RFID Named to 2008 Top Ten Products List


[Non-text portions of this message have been removed]
8
Try looking for future dated transactions with the Inventory/WIP
Reconciliation Report.

Date errors always happen at the first of the year...maybe they entered
2099 instead of 2009...

it may time some time to run for tomorrow's date through 12-31-2099



But for a more quick view just go to customer shipment tracker and do a
quick scroll through the

listing, I think that it sorts by Pack slip number or Date....errors are
usually obvious.



Depending on your schedule for WIP Capture they may or may not come
through the transaction date

verification screen.



The only other thing I can think of is to look at your AR Invoice Edit
Lists, to make sure that all were posted

before month end.



Kathleen

Inventory Control

Thomas James International





_____

From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf
Of Michael McWilliams
Sent: Friday, February 06, 2009 9:36 AM
To: vantage@yahoogroups.com
Subject: [Vantage] A/R clearing out of balance



We are trying to find out how we are 30K out of balance when there
was nothing in the Shipped not Invoiced at the month closing. I
checked to see if any parts accidentally had that chart, also checked
the expense account on all receipts to see if somehow a misc PO was
put in with that account. Nothing. Any clue where to look next.




NOTICE OF CONFIDENTIALITY: This e-mail message, including attachments, is for the sole use of the intended recipients and may contain confidential and privileged information. If you are not an intended recipient, please contact the sender by reply e-mail and destroy all copies of this message, including attachments. Any unauthorized review, use, disclosure or distribution is prohibited.


[Non-text portions of this message have been removed]
9
Help!

We found we have the same problem and have several thousand dollars left in the account from January. All of the jobs appear to have been closed on 1/30/09. It appears that the cause was someone doing a WIP capture and Post on 2/2/09 but she put the Ending date of 1/30/09. Would this cause these transactions to remain unposted? She says she changes the date so that the costs are put into the prior period. Is this necessary?

Help - I have to explain to my boss several thousands of dollars of losses that we had not known about until today.

thanks in advance

Randy Weber



--- In vantage@yahoogroups.com, "Jim Frice" <Jim.Frice@...> wrote:
>
> If you are on 6.1 try creating a report builder report to pick up these
> transactions. We did this using the part tran table. You will see two
> date fields that you can use. One is the sysdate and one is transdate. A
> quick simple filter using the >= and the <= can get you the transactions
> that typically cause this. In 6.1 we used sysdate >= start date of new
> period and trandate <= end date of period closing.
>
> Jim
>
> ________________________________
>
> From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf
> Of Lori Davies
> Sent: Friday, February 06, 2009 2:12 PM
> To: 'vantage@yahoogroups.com'
> Subject: [Vantage] Re:A/R clearing out of balance
>
>
>
> We have had this happen when a packing slip gets dated outside of the
> current WIP period. During the capture and post of WIP, there is no
> option to modify the date/period of these transactions. To check to see
> if this is your issue try running a Inventory/WIP Account Reconciliation
> Report (from Job Management section). The earliest start date I can use
> is 01/01/70 (we are on 6.10). For and end date, I usually select the
> date of our last closed period. Specify your A/R clearing account number
> and check the box to include offsetting accounts. Select Only Unposted
> to G/L transactions. If your issue is a date issue, this report will
> provide you with the necessary information for a journal entry to
> correct the account. (Vantage support says that to fix the issue, you
> can open the period & rerun the capture and post process; however, if
> you have published financials, you need to journal entry it out of the
> period it posted to and journal it into the curre nt period, so we have
> not bothered to reopen periods to post.) If checking closed dates does
> not produce anything, you may have to check future dates (the highest
> end date our system allows is 12/31/69).
>
> [Non-text portions of this message have been removed]
>
>
>
>
>
> --------------------------------------------------------------------------
>
> William Frick & Co's SmartMarkT RFID Named to 2008 Top Ten Products List
>
>
> [Non-text portions of this message have been removed]
>