Dina, Since I'm in an argumentative mood I would have to disagree with
Rick.....your books are not correct without the entry. You did not have
the $46,000 in your cash account at the end of August. It certainly is
material......if it was $5 I wouldn't bother....you can do what you want
but I like it when the computer numbers match too! ......without the
'pencil' adjustments.
Matt
________________________________
From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf
Of Ludwig, Rick
Sent: Wednesday, September 14, 2005 9:10 AM
To: vantage@yahoogroups.com
Subject: RE: [Vantage] Accounting Question
Dina-
Your accountant will understand. Just show the $46,800 as a "deposit in
transit" on your bank rec (manual I assume, as I do not use Vantage's
bank reconciliation) and explain. I agree with Ed, you should not/do
not need to adjust your books to reflect the bank's error (your books
are right and the banks books are wrong).
Thanks!
Rick Ludwig
-----Original Message-----
From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf
Of Edward F. Fox, Jr.
Sent: Wednesday, September 14, 2005 8:55 AM
To: vantage@yahoogroups.com
Subject: RE: [Vantage] Accounting Question
Just because you have a reconciling item, doesn't make you wrong!
Take care.
-----Original Message-----
From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf
Of
dhieber
Sent: Wednesday, September 14, 2005 9:41 AM
To: vantage@yahoogroups.com
Subject: RE: [Vantage] Accounting Question
Ed,
I merely want to adjust my books -- so when I close today - my g/l and
bank
statement match. Right now - I show a variance of $5200.00 - I thought
my
accountant would frown upon this....
Have a Nice Day,
Dina Hieber
Vamco International, Inc.
Phone (412) 963-7100
Fax; (412) 963-7160
www.vamcointernational.com
-----Original Message-----
From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf
Of
Edward F. Fox, Jr.
Sent: Wednesday, September 14, 2005 8:08 AM
To: vantage@yahoogroups.com
Subject: RE: [Vantage] Accounting Question
You can look at this several ways, but in reality what you record as
cash is
merely a receivable from the bank, and likewise a liability on the
bank's
books. You collected the correct amount from the customer and the bank
screwed up (like that never happens) and owes you the $$$. In my
opinion
there is little difference, except the bank would not give immediate
access
to the funds until the error was discovered.
The bank error has been identified and corrected, why adjust your books
to
reflect the bank's error?
Personally I would not.
-----Original Message-----
From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf
Of
dhieber
Sent: Wednesday, September 14, 2005 8:59 AM
To: vantage@yahoogroups.com
Subject: RE: [Vantage] Accounting Question
I'm a little slow today -- the coffee has not settled in.
Are you saying
Don't do the -52000.00 until September but do the other two steps?
Have a Nice Day,
Dina Hieber
Vamco International, Inc.
Phone (412) 963-7100
Fax; (412) 963-7160
www.vamcointernational.com
-----Original Message-----
From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf
Of
Edward F. Fox, Jr.
Sent: Wednesday, September 14, 2005 7:14 AM
To: vantage@yahoogroups.com
Subject: RE: [Vantage] Accounting Question
I would just carry it as a reconciling item until September.
-----Original Message-----
From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf
Of
dhieber
Sent: Wednesday, September 14, 2005 7:52 AM
To: vantage@yahoogroups.com
Subject: [Vantage] Accounting Question
Okay here is another one of my dumb accounting questions.
I was reconciling my bank statement for the month of August when I
noticed
the bank incorrectly added a deposit.
Instead of $52000.00 they entered $5200.00 (just a little difference)
Anyways, how do I handle this in Vantage.
They difference will not be added until September the original money was
added in August.
I thought of doing the following;
In my bank rec;
Add a Bank Adjustment for -$52000.00 against a/r (August Fiscal)
Add another Bank Adj. for for $5200.00 against a/r (August Fiscal) This
will
allow me to clear the amount of the deposit the bank and balance with
the
bank.
Add a Bank Adjustment Group for the Fiscal period of September for the
amount of $46,800.00; this should allow me to balance next month.
But will this make my a/r aging and receivables be off?
Is there another way to do this?
Have a Nice Day,
Dina Hieber
Vamco International, Inc.
Phone (412) 963-7100
Fax; (412) 963-7160
www.vamcointernational.com
[Non-text portions of this message have been removed]
Useful links for the Yahoo!Groups Vantage Board are: ( Note: You must
have
already linked your email address to a yahoo id to enable access. )
(1) To access the Files Section of our Yahoo!Group for Report Builder
and
Crystal Reports and other 'goodies', please goto:
http://groups.yahoo.com/group/vantage/files/.
<http://groups.yahoo.com/group/vantage/files/>
(2) To search through old msg's goto:
http://groups.yahoo.com/group/vantage/messages
(3) To view links to Vendors that provide Vantage services goto:
http://groups.yahoo.com/group/vantage/links
Yahoo! Groups Links
Useful links for the Yahoo!Groups Vantage Board are: ( Note: You must
have
already linked your email address to a yahoo id to enable access. )
(1) To access the Files Section of our Yahoo!Group for Report Builder
and
Crystal Reports and other 'goodies', please goto:
http://groups.yahoo.com/group/vantage/files/.
<http://groups.yahoo.com/group/vantage/files/>
(2) To search through old msg's goto:
http://groups.yahoo.com/group/vantage/messages
(3) To view links to Vendors that provide Vantage services goto:
http://groups.yahoo.com/group/vantage/links
Yahoo! Groups Links
Useful links for the Yahoo!Groups Vantage Board are: ( Note: You must
have
already linked your email address to a yahoo id to enable access. )
(1) To access the Files Section of our Yahoo!Group for Report Builder
and
Crystal Reports and other 'goodies', please goto:
http://groups.yahoo.com/group/vantage/files/.
<http://groups.yahoo.com/group/vantage/files/>
(2) To search through old msg's goto:
http://groups.yahoo.com/group/vantage/messages
(3) To view links to Vendors that provide Vantage services goto:
http://groups.yahoo.com/group/vantage/links
Yahoo! Groups Links
Useful links for the Yahoo!Groups Vantage Board are: ( Note: You must
have
already linked your email address to a yahoo id to enable access. )
(1) To access the Files Section of our Yahoo!Group for Report Builder
and
Crystal Reports and other 'goodies', please goto:
http://groups.yahoo.com/group/vantage/files/.
<http://groups.yahoo.com/group/vantage/files/>
(2) To search through old msg's goto:
http://groups.yahoo.com/group/vantage/messages
(3) To view links to Vendors that provide Vantage services goto:
http://groups.yahoo.com/group/vantage/links
Yahoo! Groups Links
Useful links for the Yahoo!Groups Vantage Board are: ( Note: You must
have
already linked your email address to a yahoo id to enable access. )
(1) To access the Files Section of our Yahoo!Group for Report Builder
and
Crystal Reports and other 'goodies', please goto:
http://groups.yahoo.com/group/vantage/files/.
<http://groups.yahoo.com/group/vantage/files/>
(2) To search through old msg's goto:
http://groups.yahoo.com/group/vantage/messages
(3) To view links to Vendors that provide Vantage services goto:
http://groups.yahoo.com/group/vantage/links
Yahoo! Groups Links
Useful links for the Yahoo!Groups Vantage Board are: ( Note: You must
have already linked your email address to a yahoo id to enable access. )
(1) To access the Files Section of our Yahoo!Group for Report Builder
and Crystal Reports and other 'goodies', please goto:
http://groups.yahoo.com/group/vantage/files/.
<http://groups.yahoo.com/group/vantage/files/>
(2) To search through old msg's goto:
http://groups.yahoo.com/group/vantage/messages
(3) To view links to Vendors that provide Vantage services goto:
http://groups.yahoo.com/group/vantage/links
SPONSORED LINKS
Membership
<http://groups.yahoo.com/gads?t=ms&k=Membership+database+software&w1=Mem
bership+database+software&w2=Database+mortgage+software&w3=Pda+database+
software&w4=Database+management+software&w5=Database+marketing+software&
w6=Online+database+software&c=6&s=190&.sig=zumlzfMugtt6gdHbPv4SEw>
database software Database
<http://groups.yahoo.com/gads?t=ms&k=Database+mortgage+software&w1=Membe
rship+database+software&w2=Database+mortgage+software&w3=Pda+database+so
ftware&w4=Database+management+software&w5=Database+marketing+software&w6
=Online+database+software&c=6&s=190&.sig=gjZta7wG6hZqdrJXzK2Teg>
mortgage software Pda
<http://groups.yahoo.com/gads?t=ms&k=Pda+database+software&w1=Membership
+database+software&w2=Database+mortgage+software&w3=Pda+database+softwar
e&w4=Database+management+software&w5=Database+marketing+software&w6=Onli
ne+database+software&c=6&s=190&.sig=3Hn54KU1wFHab_pC8mcmQw> database
software
Database
<http://groups.yahoo.com/gads?t=ms&k=Database+management+software&w1=Mem
bership+database+software&w2=Database+mortgage+software&w3=Pda+database+
software&w4=Database+management+software&w5=Database+marketing+software&
w6=Online+database+software&c=6&s=190&.sig=36Lz5dDq6L3dzupiJwAffg>
management software Database
<http://groups.yahoo.com/gads?t=ms&k=Database+marketing+software&w1=Memb
ership+database+software&w2=Database+mortgage+software&w3=Pda+database+s
oftware&w4=Database+management+software&w5=Database+marketing+software&w
6=Online+database+software&c=6&s=190&.sig=k5h2EoDyGba8G2MtsW5WSQ>
marketing software Online
<http://groups.yahoo.com/gads?t=ms&k=Online+database+software&w1=Members
hip+database+software&w2=Database+mortgage+software&w3=Pda+database+soft
ware&w4=Database+management+software&w5=Database+marketing+software&w6=O
nline+database+software&c=6&s=190&.sig=-puLLcDG0gUTIJTiT0fjEw> database
software
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<http://groups.yahoo.com/group/vantage> " on the web.
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_____
[Non-text portions of this message have been removed]
Useful links for the Yahoo!Groups Vantage Board are: ( Note: You must
have already linked your email address to a yahoo id to enable access. )
(1) To access the Files Section of our Yahoo!Group for Report Builder
and Crystal Reports and other 'goodies', please goto:
http://groups.yahoo.com/group/vantage/files/.
<http://groups.yahoo.com/group/vantage/files/>
(2) To search through old msg's goto:
http://groups.yahoo.com/group/vantage/messages
(3) To view links to Vendors that provide Vantage services goto:
http://groups.yahoo.com/group/vantage/links
________________________________
YAHOO! GROUPS LINKS
* Visit your group "vantage
<http://groups.yahoo.com/group/vantage> " on the web.
* To unsubscribe from this group, send an email to:
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* Your use of Yahoo! Groups is subject to the Yahoo! Terms of
Service <http://docs.yahoo.com/info/terms/> .
________________________________
[Non-text portions of this message have been removed]
Rick.....your books are not correct without the entry. You did not have
the $46,000 in your cash account at the end of August. It certainly is
material......if it was $5 I wouldn't bother....you can do what you want
but I like it when the computer numbers match too! ......without the
'pencil' adjustments.
Matt
________________________________
From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf
Of Ludwig, Rick
Sent: Wednesday, September 14, 2005 9:10 AM
To: vantage@yahoogroups.com
Subject: RE: [Vantage] Accounting Question
Dina-
Your accountant will understand. Just show the $46,800 as a "deposit in
transit" on your bank rec (manual I assume, as I do not use Vantage's
bank reconciliation) and explain. I agree with Ed, you should not/do
not need to adjust your books to reflect the bank's error (your books
are right and the banks books are wrong).
Thanks!
Rick Ludwig
-----Original Message-----
From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf
Of Edward F. Fox, Jr.
Sent: Wednesday, September 14, 2005 8:55 AM
To: vantage@yahoogroups.com
Subject: RE: [Vantage] Accounting Question
Just because you have a reconciling item, doesn't make you wrong!
Take care.
-----Original Message-----
From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf
Of
dhieber
Sent: Wednesday, September 14, 2005 9:41 AM
To: vantage@yahoogroups.com
Subject: RE: [Vantage] Accounting Question
Ed,
I merely want to adjust my books -- so when I close today - my g/l and
bank
statement match. Right now - I show a variance of $5200.00 - I thought
my
accountant would frown upon this....
Have a Nice Day,
Dina Hieber
Vamco International, Inc.
Phone (412) 963-7100
Fax; (412) 963-7160
www.vamcointernational.com
-----Original Message-----
From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf
Of
Edward F. Fox, Jr.
Sent: Wednesday, September 14, 2005 8:08 AM
To: vantage@yahoogroups.com
Subject: RE: [Vantage] Accounting Question
You can look at this several ways, but in reality what you record as
cash is
merely a receivable from the bank, and likewise a liability on the
bank's
books. You collected the correct amount from the customer and the bank
screwed up (like that never happens) and owes you the $$$. In my
opinion
there is little difference, except the bank would not give immediate
access
to the funds until the error was discovered.
The bank error has been identified and corrected, why adjust your books
to
reflect the bank's error?
Personally I would not.
-----Original Message-----
From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf
Of
dhieber
Sent: Wednesday, September 14, 2005 8:59 AM
To: vantage@yahoogroups.com
Subject: RE: [Vantage] Accounting Question
I'm a little slow today -- the coffee has not settled in.
Are you saying
Don't do the -52000.00 until September but do the other two steps?
Have a Nice Day,
Dina Hieber
Vamco International, Inc.
Phone (412) 963-7100
Fax; (412) 963-7160
www.vamcointernational.com
-----Original Message-----
From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf
Of
Edward F. Fox, Jr.
Sent: Wednesday, September 14, 2005 7:14 AM
To: vantage@yahoogroups.com
Subject: RE: [Vantage] Accounting Question
I would just carry it as a reconciling item until September.
-----Original Message-----
From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf
Of
dhieber
Sent: Wednesday, September 14, 2005 7:52 AM
To: vantage@yahoogroups.com
Subject: [Vantage] Accounting Question
Okay here is another one of my dumb accounting questions.
I was reconciling my bank statement for the month of August when I
noticed
the bank incorrectly added a deposit.
Instead of $52000.00 they entered $5200.00 (just a little difference)
Anyways, how do I handle this in Vantage.
They difference will not be added until September the original money was
added in August.
I thought of doing the following;
In my bank rec;
Add a Bank Adjustment for -$52000.00 against a/r (August Fiscal)
Add another Bank Adj. for for $5200.00 against a/r (August Fiscal) This
will
allow me to clear the amount of the deposit the bank and balance with
the
bank.
Add a Bank Adjustment Group for the Fiscal period of September for the
amount of $46,800.00; this should allow me to balance next month.
But will this make my a/r aging and receivables be off?
Is there another way to do this?
Have a Nice Day,
Dina Hieber
Vamco International, Inc.
Phone (412) 963-7100
Fax; (412) 963-7160
www.vamcointernational.com
[Non-text portions of this message have been removed]
Useful links for the Yahoo!Groups Vantage Board are: ( Note: You must
have
already linked your email address to a yahoo id to enable access. )
(1) To access the Files Section of our Yahoo!Group for Report Builder
and
Crystal Reports and other 'goodies', please goto:
http://groups.yahoo.com/group/vantage/files/.
<http://groups.yahoo.com/group/vantage/files/>
(2) To search through old msg's goto:
http://groups.yahoo.com/group/vantage/messages
(3) To view links to Vendors that provide Vantage services goto:
http://groups.yahoo.com/group/vantage/links
Yahoo! Groups Links
Useful links for the Yahoo!Groups Vantage Board are: ( Note: You must
have
already linked your email address to a yahoo id to enable access. )
(1) To access the Files Section of our Yahoo!Group for Report Builder
and
Crystal Reports and other 'goodies', please goto:
http://groups.yahoo.com/group/vantage/files/.
<http://groups.yahoo.com/group/vantage/files/>
(2) To search through old msg's goto:
http://groups.yahoo.com/group/vantage/messages
(3) To view links to Vendors that provide Vantage services goto:
http://groups.yahoo.com/group/vantage/links
Yahoo! Groups Links
Useful links for the Yahoo!Groups Vantage Board are: ( Note: You must
have
already linked your email address to a yahoo id to enable access. )
(1) To access the Files Section of our Yahoo!Group for Report Builder
and
Crystal Reports and other 'goodies', please goto:
http://groups.yahoo.com/group/vantage/files/.
<http://groups.yahoo.com/group/vantage/files/>
(2) To search through old msg's goto:
http://groups.yahoo.com/group/vantage/messages
(3) To view links to Vendors that provide Vantage services goto:
http://groups.yahoo.com/group/vantage/links
Yahoo! Groups Links
Useful links for the Yahoo!Groups Vantage Board are: ( Note: You must
have
already linked your email address to a yahoo id to enable access. )
(1) To access the Files Section of our Yahoo!Group for Report Builder
and
Crystal Reports and other 'goodies', please goto:
http://groups.yahoo.com/group/vantage/files/.
<http://groups.yahoo.com/group/vantage/files/>
(2) To search through old msg's goto:
http://groups.yahoo.com/group/vantage/messages
(3) To view links to Vendors that provide Vantage services goto:
http://groups.yahoo.com/group/vantage/links
Yahoo! Groups Links
Useful links for the Yahoo!Groups Vantage Board are: ( Note: You must
have
already linked your email address to a yahoo id to enable access. )
(1) To access the Files Section of our Yahoo!Group for Report Builder
and
Crystal Reports and other 'goodies', please goto:
http://groups.yahoo.com/group/vantage/files/.
<http://groups.yahoo.com/group/vantage/files/>
(2) To search through old msg's goto:
http://groups.yahoo.com/group/vantage/messages
(3) To view links to Vendors that provide Vantage services goto:
http://groups.yahoo.com/group/vantage/links
Yahoo! Groups Links
Useful links for the Yahoo!Groups Vantage Board are: ( Note: You must
have already linked your email address to a yahoo id to enable access. )
(1) To access the Files Section of our Yahoo!Group for Report Builder
and Crystal Reports and other 'goodies', please goto:
http://groups.yahoo.com/group/vantage/files/.
<http://groups.yahoo.com/group/vantage/files/>
(2) To search through old msg's goto:
http://groups.yahoo.com/group/vantage/messages
(3) To view links to Vendors that provide Vantage services goto:
http://groups.yahoo.com/group/vantage/links
SPONSORED LINKS
Membership
<http://groups.yahoo.com/gads?t=ms&k=Membership+database+software&w1=Mem
bership+database+software&w2=Database+mortgage+software&w3=Pda+database+
software&w4=Database+management+software&w5=Database+marketing+software&
w6=Online+database+software&c=6&s=190&.sig=zumlzfMugtt6gdHbPv4SEw>
database software Database
<http://groups.yahoo.com/gads?t=ms&k=Database+mortgage+software&w1=Membe
rship+database+software&w2=Database+mortgage+software&w3=Pda+database+so
ftware&w4=Database+management+software&w5=Database+marketing+software&w6
=Online+database+software&c=6&s=190&.sig=gjZta7wG6hZqdrJXzK2Teg>
mortgage software Pda
<http://groups.yahoo.com/gads?t=ms&k=Pda+database+software&w1=Membership
+database+software&w2=Database+mortgage+software&w3=Pda+database+softwar
e&w4=Database+management+software&w5=Database+marketing+software&w6=Onli
ne+database+software&c=6&s=190&.sig=3Hn54KU1wFHab_pC8mcmQw> database
software
Database
<http://groups.yahoo.com/gads?t=ms&k=Database+management+software&w1=Mem
bership+database+software&w2=Database+mortgage+software&w3=Pda+database+
software&w4=Database+management+software&w5=Database+marketing+software&
w6=Online+database+software&c=6&s=190&.sig=36Lz5dDq6L3dzupiJwAffg>
management software Database
<http://groups.yahoo.com/gads?t=ms&k=Database+marketing+software&w1=Memb
ership+database+software&w2=Database+mortgage+software&w3=Pda+database+s
oftware&w4=Database+management+software&w5=Database+marketing+software&w
6=Online+database+software&c=6&s=190&.sig=k5h2EoDyGba8G2MtsW5WSQ>
marketing software Online
<http://groups.yahoo.com/gads?t=ms&k=Online+database+software&w1=Members
hip+database+software&w2=Database+mortgage+software&w3=Pda+database+soft
ware&w4=Database+management+software&w5=Database+marketing+software&w6=O
nline+database+software&c=6&s=190&.sig=-puLLcDG0gUTIJTiT0fjEw> database
software
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YAHOO! GROUPS LINKS
* Visit your group "vantage
<http://groups.yahoo.com/group/vantage> " on the web.
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Service <http://docs.yahoo.com/info/terms/> .
_____
[Non-text portions of this message have been removed]
Useful links for the Yahoo!Groups Vantage Board are: ( Note: You must
have already linked your email address to a yahoo id to enable access. )
(1) To access the Files Section of our Yahoo!Group for Report Builder
and Crystal Reports and other 'goodies', please goto:
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<http://groups.yahoo.com/group/vantage/files/>
(2) To search through old msg's goto:
http://groups.yahoo.com/group/vantage/messages
(3) To view links to Vendors that provide Vantage services goto:
http://groups.yahoo.com/group/vantage/links
________________________________
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[Non-text portions of this message have been removed]