Paying the Terms on a PO without recieving the PO

Yahoo Archive
1
I am running 6.10.532. I appreacite the assistance.

Being the tech that I am, I am asking my accounting folks for help in
understanding this. I will sit with them and work thru this and
hopefully we will see "magic"!

Thanks



--- In vantage@yahoogroups.com, "Edward F. Fox, Jr." <efox@...> wrote:
>
> What version of Vantage are you on?
>
> This is an advance billing line on an A/P invoice. Your master
file should
> be set up to go to a "prepaid" account and the installments should
not be
> applied to the job. When the goods are received the full cost of
the item
> is received is applied to the job. Enter in the invoice as you do
normally
> and the advance billings are reflected showing only the remaining
10% due.
> Works like magic!
>
>
> Edward F. Fox, Jr. CPA
> Controller
> Maxson Automatic Machinery Company
> Phone 401-596-0162 * Fax 401-596-1050
> www.maxsonautomatic.com
>
>
> -----Original Message-----
> From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On
Behalf Of
> maurojm
> Sent: Tuesday, April 04, 2006 4:59 PM
> To: vantage@yahoogroups.com
> Subject: [Vantage] Paying the Terms on a PO without recieving the PO
>
> I hope I can make this clear. How do I pay the terms of a PO
without
> recieving the PO?
>
> For example, I am buying a piece of equipment. I cut a PO that has
terms of
> 40/50/10% at dated intervals with a total price of $100k. I want
to be able
> to pay the first 40% and apply that to the job. Then go back and
pay the
> 50% and then finally the last 10% and recieve the PO at the time I
pay the
> 10%. Currently the accounting crew is not sure how this can be
done and
> they are having to go back and manipulate the data in order for the
entire
> PO to be payed and applied to the job correctly.
>
> It seems like this should be an easy enough function, but I have no
idea how
> this works or should be set up.
>
> Thank you in advance.
> Jeff
>
>
>
>
>
> 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/.
> (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
>
2
I hope I can make this clear. How do I pay the terms of a PO without
recieving the PO?

For example, I am buying a piece of equipment. I cut a PO that has
terms of 40/50/10% at dated intervals with a total price of $100k. I
want to be able to pay the first 40% and apply that to the job. Then
go back and pay the 50% and then finally the last 10% and recieve the
PO at the time I pay the 10%. Currently the accounting crew is not
sure how this can be done and they are having to go back and manipulate
the data in order for the entire PO to be payed and applied to the job
correctly.

It seems like this should be an easy enough function, but I have no
idea how this works or should be set up.

Thank you in advance.
Jeff
3
What version of Vantage are you on?

This is an advance billing line on an A/P invoice. Your master file should
be set up to go to a "prepaid" account and the installments should not be
applied to the job. When the goods are received the full cost of the item
is received is applied to the job. Enter in the invoice as you do normally
and the advance billings are reflected showing only the remaining 10% due.
Works like magic!


Edward F. Fox, Jr. CPA
Controller
Maxson Automatic Machinery Company
Phone 401-596-0162 * Fax 401-596-1050
www.maxsonautomatic.com


-----Original Message-----
From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf Of
maurojm
Sent: Tuesday, April 04, 2006 4:59 PM
To: vantage@yahoogroups.com
Subject: [Vantage] Paying the Terms on a PO without recieving the PO

I hope I can make this clear. How do I pay the terms of a PO without
recieving the PO?

For example, I am buying a piece of equipment. I cut a PO that has terms of
40/50/10% at dated intervals with a total price of $100k. I want to be able
to pay the first 40% and apply that to the job. Then go back and pay the
50% and then finally the last 10% and recieve the PO at the time I pay the
10%. Currently the accounting crew is not sure how this can be done and
they are having to go back and manipulate the data in order for the entire
PO to be payed and applied to the job correctly.

It seems like this should be an easy enough function, but I have no idea how
this works or should be set up.

Thank you in advance.
Jeff





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/.
(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
4
Advance Billing does work well, but our A/P clerk had some trial and error
with it in the beginning, so you may want to play with it in Training first!



-----Original Message-----
From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf Of
Edward F. Fox, Jr.
Sent: Tuesday, April 04, 2006 4:08 PM
To: vantage@yahoogroups.com
Subject: RE: [Vantage] Paying the Terms on a PO without recieving the PO

What version of Vantage are you on?

This is an advance billing line on an A/P invoice. Your master file should
be set up to go to a "prepaid" account and the installments should not be
applied to the job. When the goods are received the full cost of the item
is received is applied to the job. Enter in the invoice as you do normally
and the advance billings are reflected showing only the remaining 10% due.
Works like magic!


Edward F. Fox, Jr. CPA
Controller
Maxson Automatic Machinery Company
Phone 401-596-0162 * Fax 401-596-1050
www.maxsonautomatic.com


-----Original Message-----
From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf Of
maurojm
Sent: Tuesday, April 04, 2006 4:59 PM
To: vantage@yahoogroups.com
Subject: [Vantage] Paying the Terms on a PO without recieving the PO

I hope I can make this clear. How do I pay the terms of a PO without
recieving the PO?

For example, I am buying a piece of equipment. I cut a PO that has terms of
40/50/10% at dated intervals with a total price of $100k. I want to be able
to pay the first 40% and apply that to the job. Then go back and pay the
50% and then finally the last 10% and recieve the PO at the time I pay the
10%. Currently the accounting crew is not sure how this can be done and
they are having to go back and manipulate the data in order for the entire
PO to be payed and applied to the job correctly.

It seems like this should be an easy enough function, but I have no idea how
this works or should be set up.

Thank you in advance.
Jeff





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/.
(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/.
(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