Reconcile AP Clearing? (V6.1)

Ours is always within a penny (or known issues). I run it the last day of the month after everyone is gone for the day. I use the date range 01/01/00 to 12/31/50 to try and catch all the date errors. There are a couple of reports that have to be ran after everyone is done for the last day of the month... I run all of these to try and keep the variances as small as possible. Watch just because I said this we will have major problems with it this month!

-----Original Message-----
From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com]On Behalf
Of Ludwig, Rick
Sent: Tuesday, November 15, 2005 4:05 PM
To: vantage@yahoogroups.com
Subject: RE: [Vantage] Reconcile AP Clearing?? (V6.1)


I believe EVERYONE has a problem with this account. The best piece of
advice at month-end is to:

1. STOP RECEIVING goods into the system and MATCHING invoices to
receipts on the first day of the new month (at least for the first few
hours of the morning)
2. RUN your Received But Not Invoiced Report from the beginning of time
to the current month-end date
3. RUN your General Ledger Report detail for your A/P Clearing account

These should be close; HOWEVER, what tends to cause differences is the
programming logic of Vantage. If the incorrect price was entered in
purchasing, it will be received at this same price (into the A/P
Clearing Account). Accounting logic would say that whatever price it
goes IN at, it should also come OUT at, BUT THIS IS NOT THE CASE. Based
on my experience, ANY differences between your purchase price and your
invoice price will hang up in the A/P Clearing account, causing a
difference. Ours typically is between $1,000 and $2,000 and can go
positive or negative. The primary driver to keep these differences low
(difference WILL obviously occur), is to ensure purchasing is entering
the correct cost when creating the Purchase Order.

Hope this helps!

Thanks!



Rick Ludwig



-----Original Message-----
From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf
Of bakerprovan
Sent: Thursday, November 03, 2005 6:53 AM
To: vantage@yahoogroups.com
Subject: [Vantage] Reconcile AP Clearing?? (V6.1)


Our AP Clearing Account fluctuates wildly. At months end it is
positive more times than negative but we have seen some substantial
negative values.

The value has never equalled the value of the goods received not
invoiced report. This might be explained by the fact that we
sometimes have substantial advanced and unreceived billing entries.

Is there any way of finding out what the AP clearing account
reflects?

I know for fact that the AR Clearing Logic is not bullet proof and
dollars can get stranded in that account. Locating these values
stuck in AR Clearing, while not easy, is helped by the fact that AR
clearing should return to zero after all invoices are posted at the
end of each month and the inventory/WIP reconciliation debits and
credits through that account can be matched line by line. Neither
of these methods help in cleaning up AP Clearing.

I and our Management Accountant don't trust the AP clearing logic.
Has anyone found a way of validating it?






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




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database+software&c=6&s=186&.sig=UMpdmPFoAvQNOm7UNvkXtA> software
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management software Database
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facturing+software&w2=Membership+database+software&w3=Pda+database+softw
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line+database+software&c=6&s=186&.sig=J93TSxlI3Odqy7KYRMKsmA> marketing
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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
Our AP Clearing Account fluctuates wildly. At months end it is
positive more times than negative but we have seen some substantial
negative values.

The value has never equalled the value of the goods received not
invoiced report. This might be explained by the fact that we
sometimes have substantial advanced and unreceived billing entries.

Is there any way of finding out what the AP clearing account
reflects?

I know for fact that the AR Clearing Logic is not bullet proof and
dollars can get stranded in that account. Locating these values
stuck in AR Clearing, while not easy, is helped by the fact that AR
clearing should return to zero after all invoices are posted at the
end of each month and the inventory/WIP reconciliation debits and
credits through that account can be matched line by line. Neither
of these methods help in cleaning up AP Clearing.

I and our Management Accountant don't trust the AP clearing logic.
Has anyone found a way of validating it?
We match the balance to our received but uninvoiced reports. By matching
your actual receiving paperwork to this report, you can tell what is in
the account that shouldn't be. This is the result of a purchase order
being coded incorrectly.

-----Original Message-----
From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf
Of bakerprovan
Sent: Thursday, November 03, 2005 5:53 AM
To: vantage@yahoogroups.com
Subject: [Vantage] Reconcile AP Clearing?? (V6.1)

Our AP Clearing Account fluctuates wildly. At months end it is positive
more times than negative but we have seen some substantial
negative values.

The value has never equalled the value of the goods received not
invoiced report. This might be explained by the fact that we sometimes
have substantial advanced and unreceived billing entries.

Is there any way of finding out what the AP clearing account reflects?

I know for fact that the AR Clearing Logic is not bullet proof and
dollars can get stranded in that account. Locating these values stuck
in AR Clearing, while not easy, is helped by the fact that AR clearing
should return to zero after all invoices are posted at the end of each
month and the inventory/WIP reconciliation debits and credits through
that account can be matched line by line. Neither of these methods help
in cleaning up AP Clearing.

I and our Management Accountant don't trust the AP clearing logic.
Has anyone found a way of validating it?






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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
I believe EVERYONE has a problem with this account. The best piece of
advice at month-end is to:

1. STOP RECEIVING goods into the system and MATCHING invoices to
receipts on the first day of the new month (at least for the first few
hours of the morning)
2. RUN your Received But Not Invoiced Report from the beginning of time
to the current month-end date
3. RUN your General Ledger Report detail for your A/P Clearing account

These should be close; HOWEVER, what tends to cause differences is the
programming logic of Vantage. If the incorrect price was entered in
purchasing, it will be received at this same price (into the A/P
Clearing Account). Accounting logic would say that whatever price it
goes IN at, it should also come OUT at, BUT THIS IS NOT THE CASE. Based
on my experience, ANY differences between your purchase price and your
invoice price will hang up in the A/P Clearing account, causing a
difference. Ours typically is between $1,000 and $2,000 and can go
positive or negative. The primary driver to keep these differences low
(difference WILL obviously occur), is to ensure purchasing is entering
the correct cost when creating the Purchase Order.

Hope this helps!

Thanks!



Rick Ludwig



-----Original Message-----
From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf
Of bakerprovan
Sent: Thursday, November 03, 2005 6:53 AM
To: vantage@yahoogroups.com
Subject: [Vantage] Reconcile AP Clearing?? (V6.1)


Our AP Clearing Account fluctuates wildly. At months end it is
positive more times than negative but we have seen some substantial
negative values.

The value has never equalled the value of the goods received not
invoiced report. This might be explained by the fact that we
sometimes have substantial advanced and unreceived billing entries.

Is there any way of finding out what the AP clearing account
reflects?

I know for fact that the AR Clearing Logic is not bullet proof and
dollars can get stranded in that account. Locating these values
stuck in AR Clearing, while not easy, is helped by the fact that AR
clearing should return to zero after all invoices are posted at the
end of each month and the inventory/WIP reconciliation debits and
credits through that account can be matched line by line. Neither
of these methods help in cleaning up AP Clearing.

I and our Management Accountant don't trust the AP clearing logic.
Has anyone found a way of validating it?






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




SPONSORED LINKS
Manufacturing
<http://groups.yahoo.com/gads?t=ms&k=Manufacturing+software&w1=Manufactu
ring+software&w2=Membership+database+software&w3=Pda+database+software&w
4=Database+management+software&w5=Database+marketing+software&w6=Online+
database+software&c=6&s=186&.sig=UMpdmPFoAvQNOm7UNvkXtA> software
Membership
<http://groups.yahoo.com/gads?t=ms&k=Membership+database+software&w1=Man
ufacturing+software&w2=Membership+database+software&w3=Pda+database+soft
ware&w4=Database+management+software&w5=Database+marketing+software&w6=O
nline+database+software&c=6&s=186&.sig=C37ckDb-SMP71iiKv60uHw> database
software Pda
<http://groups.yahoo.com/gads?t=ms&k=Pda+database+software&w1=Manufactur
ing+software&w2=Membership+database+software&w3=Pda+database+software&w4
=Database+management+software&w5=Database+marketing+software&w6=Online+d
atabase+software&c=6&s=186&.sig=RQRH4LA-LSse5hDYHZEeXw> database
software
Database
<http://groups.yahoo.com/gads?t=ms&k=Database+management+software&w1=Man
ufacturing+software&w2=Membership+database+software&w3=Pda+database+soft
ware&w4=Database+management+software&w5=Database+marketing+software&w6=O
nline+database+software&c=6&s=186&.sig=We7WT9skRvovj5VSiINIJw>
management software Database
<http://groups.yahoo.com/gads?t=ms&k=Database+marketing+software&w1=Manu
facturing+software&w2=Membership+database+software&w3=Pda+database+softw
are&w4=Database+management+software&w5=Database+marketing+software&w6=On
line+database+software&c=6&s=186&.sig=J93TSxlI3Odqy7KYRMKsmA> marketing
software Online
<http://groups.yahoo.com/gads?t=ms&k=Online+database+software&w1=Manufac
turing+software&w2=Membership+database+software&w3=Pda+database+software
&w4=Database+management+software&w5=Database+marketing+software&w6=Onlin
e+database+software&c=6&s=186&.sig=po8zPURylyGRTQsgLRjIsQ> database
software

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* To unsubscribe from this group, send an email to:
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[Non-text portions of this message have been removed]