Deposits


(system) #1
Keith,
You're absolutely correct. Unapplied payments are posted to the default
G/L account specified in config. If this is your "regular" cash
account, you'll find that the balance is not correct. I've set up a new
G/L account called "Accts. Receivable - Unapplied Payments" in the same
account number group as the standard A/R account. From an accounting
standpoint, this is a credit balance and will reduce the total accounts
receivable. Works like a charm, all the customer details appear in this
account-date, check #, amount, etc. Also, this will allow you to apply
the payment to an invoice at a future date. Just remember to change the
G/L account number in A/R config.

Debbie Raiona

Keith Taylor wrote:

>
> Can anyone explain how they are keeping track of deposits and billings
> in
> Vantage. My understanding and research shows that the depist does not
> show
> on the A/R aging reports, trackers, etc. unless they are applied to an
>
> invoice.
>
> Any help would be appreciated as we are now keepoing a manual list so
> that
> we can balance to the general ledger.
>
> Keith Taylor
> ---------------------------
> Long Business Systems, Inc.
> 12120 Elmwood Ave.
> Cleveland, OH 44111
> Phone: (216) 476-1416
> Fax: (216) 476-1452
> http://www.lbsi.com
> ---------------------------
>
> -----------------------------------------------------------------------
>
> -----------------------------------------------------------------------
> We no longer allow attachments to files. To access/share Report
> Files, please go to the following link:
> http://www.egroups.com/files/vantage/
> (Note: If this link does not work for you the first time you try it,
> go to www.egroups.com, login and be sure to save your password, choose
> My Groups, choose Vantage, then choose Files. If you save the
> password, the link above will work the next time you try it.)

(system) #2
Can anyone explain how they are keeping track of deposits and billings in
Vantage. My understanding and research shows that the depist does not show
on the A/R aging reports, trackers, etc. unless they are applied to an
invoice.

Any help would be appreciated as we are now keepoing a manual list so that
we can balance to the general ledger.

Keith Taylor
---------------------------
Long Business Systems, Inc.
12120 Elmwood Ave.
Cleveland, OH 44111
Phone: (216) 476-1416
Fax: (216) 476-1452
http://www.lbsi.com
---------------------------

(system) #3
I am not sure I follow your question/logic? But here goes-

We use Vantage 3.0 to keep track of it all. It is wonderful. We generate
packing slips, mark invoices ready to ship and "get shipments" to generate
the invoices, post the invoices, apply the cash receipts to the invoices,
generates aging reports, etc. We also use the bank reconciliation. Flows
beautifully. All is balanced monthly to the general ledger. We are about to
foray into the world of advance billing - can't speak from first hand
experience about that yet, nor the differences ver 4 makes.

Am I totally missing the gist of your questions?

Deb
Reeder & Kline Machine Co.


-----Original Message-----
From: Keith Taylor [mailto:keith@...]
Subject: RE: [Vantage] Deposits

Can anyone explain how they are keeping track of deposits and billings in
Vantage. My understanding and research shows that the depist does not show
on the A/R aging reports, trackers, etc. unless they are applied to an
invoice.

Any help would be appreciated as we are now keepoing a manual list so that
we can balance to the general ledger.

Keith Taylor


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

(system) #4
We handle deposits in the same manner. I haven't looked into building a
report yet, so I don't know if it would work.

Randall Lunsford
Excel Machinery, Ltd.
e-mail: rlunsf@...
Phone: (806) 335-4565 ext. 531
Fax: (806) 335-9017

-----Original Message-----
From: Keith Taylor [mailto:keith@...]
Sent: Monday, July 24, 2000 9:57 AM
To: 'Wilmoth, Deb '; ''vantage@egroups.com' '
Subject: RE: [Vantage] Deposits


Can anyone explain how they are keeping track of deposits and billings in
Vantage. My understanding and research shows that the depist does not show
on the A/R aging reports, trackers, etc. unless they are applied to an
invoice.

Any help would be appreciated as we are now keepoing a manual list so that
we can balance to the general ledger.

Keith Taylor
---------------------------
Long Business Systems, Inc.
12120 Elmwood Ave.
Cleveland, OH 44111
Phone: (216) 476-1416
Fax: (216) 476-1452
http://www.lbsi.com
---------------------------


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We no longer allow attachments to files. To access/share Report Files,
please go to the following link: http://www.egroups.com/files/vantage/
(Note: If this link does not work for you the first time you try it, go to
www.egroups.com, login and be sure to save your password, choose My Groups,
choose Vantage, then choose Files. If you save the password, the link above
will work the next time you try it.)

(system) #5
We have been tracking deposits through Report Builder Report (Three reports:
Total Deposit balance, Deposits applied to Invoices and Deposit Cash
Receipts) and Excel. The reason I do not trust the one report on the Total
Deposit Balance is that Vantage (at least still in 3.0) will allow people to
delete a Sales Order even though there is a deposit balance remaining on it.
This does not update the General Ledger. Whatever system you use, must tie
to your GL at the end of each month.

Deleted Sales orders...we re-enter them as a cash receipt and reclass the
entry at the end of the month.



Keith Taylor wrote:
Can anyone explain how they are keeping track of deposits and billings in
Vantage. My understanding and research shows that the depist does not show
on the A/R aging reports, trackers, etc. unless they are applied to an
invoice.
Any help would be appreciated as we are now keepoing a manual list so that
we can balance to the general ledger.