Turtle

Expense processing notes General rule regarding Shop Supplies vs Production supplies Acct Shop supplies (tools, office type supplies that are used up in the making of products) Production Supplies (materials going into the making of the product, something that would be part of the product and part of a YE inventory count Kira will try her best to clarify between the 2 with a memo if needed or an email, especially in the case of one bill being split between the two accounts SUPPLIER PRE-PAYMENTS: TLTP Issues purchase orders in Erplain when they order inventory from a supplier, at the time they order they issue full payment usually, to enable the posting of the payment without a bill each supplier has a future dated penny bill so to the right you can click "mark as paid" post the payment details and UNCHECK the penny bill so that the payment is fully unapplied. When the order arrives TLTP will mark it as received in Erplain which will result in Erplain sending a bill to QBO. In the monthly review of the AP summary you will see the negative payment and the matching bill dated after the payment - simply edit your payment to apply to the bill entry and save. As this happens with every order they make a summary prepaid account would get confusing and individual prepaid accounts would make a long list. Pre-payments to suppliers can be moved to a BS prepaid account for the FYE and reversed on Oct. 1 to put back to the corresponding AP account. Prepaid accounts No Currency revaluation notes No