Abc accounting 11. 0 Reference Guide

Inventory Item # (I)

Enter the code you will use to reference the item. Item numbers ending with a period (.) are not allowed because they are used to indicate a remark on the Receivable Invoice (R) screen and the Bill Entry (B) screen. Also, do not use a forward slash (/) in your Item code if you will be tracking serial numbers on this item. Note: Item codes ending with &, $ or * should be used for setting up rebate items Press Page 69 to see Tracking Inventory Rebates. The same information is found by pressing Shift+F1, selecting Questions, and then option R.

If a digitizer is used for entering items, item codes beginning with a one (1) may not be used. (A digitizer is a pad with an electronic pen).

Alt+U Use the item# that was just entered, instead of the partial match which the computer found. For example, if you enter ABC and the computer finds ABC2, you can press Alt+U to change the item# back to ABC. This only works immediately after the item# is entered.

Some items may have been pre-entered for your convenience, for example:

F for Freight PB for Prior Balance

T for Sales Tax FC for Finance Charge

See Default Record Setup,Page 47, to save time when you are entering many items. The same information is found by pressing Shift+F1, selecting Questions, and then D.

Description Field (I)

Type the description as it should appear on the Receivable Invoice.

You can page through your inventory files by using F7 and F8. If you have many inventory items to enter, you might save time if you use computer generated descriptions. See the section titled "Computer Generated Descriptions" in your manual. Or press Shift+F1, Q for Questions and G.

Computer Generated Descriptions (I)

When you are entering a new item, the computer can automatically generate the description, based on the characters in the Item #. Here is a brief summary of the setup. See the examples following for detailed help.

1. Make default record with (") to start item#. Enter basic description. Enter capital letter in the Remark field. Press F9 to save.

2. Make linking record with (#) and that same capital letter to start an item#. Enter more description. Enter number or symbol in Remark as command. Press F9 to save.

The following is a summary of the Remark commands:

1 - one digit number

2 - two digit number

3 - three digit number

8 - two digits in item # printed as a whole number and

a fraction of eighths (* indicates sixteenths)

$ - three digits printed as money

* - one digit number followed by zero

_ - underline, used before another command, adds a space

For more detail on these commands, see the following pages.

Description Generator Commands:

0 - The commands following zero are optional.

1 - The one number entered in the item# will be printed as a one-digit number in the description.

2 - The two numbers entered in the item# will be printed as a two-digit number in the description.

3 - The three numbers entered in the item# will be printed as a three-digit number in the description.

8 - The two numbers entered in the item# will be printed as a one-digit whole number and a fraction with a denominator of 8. For a denominator of 16, in the item# enter * and the number of sixteenths needed. Example: *5 in the item#, would be 5/16 in the item description. These are used for various sizes of lumber, pipe fittings, etc.

$ - A 3-digit number in the item# will be printed as money in the description. Example: 155 in the item# makes 1.55 in the description.

* - A one-digit number in the item# will be followed by a zero when printed in the description.

_ - An underline before another command makes a space in the description.

DESCRIPTION GENERATOR EXAMPLES - Let's say you sell Eversharp Ballpoint Pens by the pack, various quantities per pack. First set up a default record. Enter E as the item #. Enter Eversharp for description. This means the item # starts with E and the item description with Eversharp. Enter B in the Remark field. Save with F9. The B makes the computer search for a linking item # that begins with #B.

Next set up that linking record. Enter #BBP as the item #. Enter Ballpoint Pens as the description. (The first character after the # will not be part of the final item #. It is only the link between the default record and the # record. So, it must match the one entered in Remark on the default record.) Enter the commands _2 in the Remark field. Save with F9. This tells the computer that the 2 digits attached to the item # should be printed as a 2-digit number followed by a space in the item description.

Result: EBP20 as item#, 20 Eversharp Ballpoint Pens is

description.

EBP50 as item#, 50 Eversharp Ballpoint Pens is .

description

Try this: change the _2 in your #BBP record to C. Save. Make another linking record with #CGN as the item#, Green as description and _2 as Remark. Save.

Result: EBPGN40 as item#, 40 Eversharp Ballpoint Pens

Green is description.

Try this: enter #CRD as item#, Red as description and _2

as Remark. Save.

Result: EBPRD12 as item#, 12 Eversharp Ballpoint Pens Red

is description.

The commands must be on the last linking (#) records of the sequences.

You can enter multiple commands in the Remark field of the last # record. The commands 1, 2, or 3 are carried out and the results separated by an x.

Save.

Remark - _23 Save.

Result: PCD12400 as item#, 12x400 plywood cedar sheets, is

description. (We had to use 5 digits at the end of the item# because of the 23).

If we have 203 in remark, we must have either a 2 or 5-digit number in item #. A 0 means the following commands are optional; we may or may not use them.

Using the above example, change _23 to _203 on the #CCD linking record.

Result: PCD12 as item#, 12 plywood cedar sheets, is

description.

PCD24120 as item#, 24x120 plywood cedar sheets, is

description.

To eliminate the default description from the item description, place an asterisk (*) at the beginning of the description on your # record.

Placing a (<) at the beginning of the (#) description, moves it to the left in the final item description.

Try this: Item# - "OB Description - oil burner Remark - B

Save.

Item# - #BNA Description - *a burner nozzle Remark - _$*

Result: Item# - OBNA1234 Description - 1.23x40 a burner

nozzle. (Placing an * in the beginning of the description on the linking (#) record told the computer not to use the description on the default (") record.)
Try this: (using items set up in earlier examples)

Enter: Item# - #CY Description - yellow Remark - _*

Result: Item# - EBPY3 Description - 30 Eversharp

Ballpoint Pens yellow

Now, on the #CY record, change description to

Let's do a new one.

Enter: Item# - "BL, Description - bolt, Remark - C, Save.

Enter: Item# - #CCR Description - <" carriage Remark -

82, Save.

Result: Item# - BLCR0204 Description - 1/4x4" carriage

bolt

Result: Item# - BLCR0606 Description - 3/4x6" carriage

Result: Item# - BLCR0505 Description - 5/8x5" carriage

bolt

Result: Item# - BLCR2303 Description - 2 3/8x3" carriage

Result: Item# - BLCR*703 Description - 7/16x3" carriage

bolt

Sale G/L (I)

Our standard G/L account number for Sales is 501, and the A/P G/L Adder (on the & screen) is 100.

The Sale G/L # is also used by Report # 1-7, INVENTORY VALUE, when posting to General Ledger.

Inventory can be sorted by this field, using Report # 1-1, INVENTORY LISTING. Select G to sort by G/L #.

Tax (I)

If this item is not normally taxable, enter E for exempt. If this field is left blank, the computer automatically calculates sales tax on the item.

An X in this field specifies that this record is a Sales Tax record.

An S (Sometimes) may be entered to calculate tax on this item manually. Using an S, also gives you the option to indicate on the Customer screen, in the Tax Code # field whether a customer Always pays tax on this item, usually pays Tax on this item, or is usually Exempt from tax. T or E will be the defaults when the item is entered on a Receivable Invoice. (Do not enter the A, T or E here.)

for information on setting up The same information is found by pressing Shift+F1, selecting Questions, and then option M.

Multiple Tax Codes (I)

If you have more than one sales tax that applies to items that you sell, you can set them up by using the following steps.

A. Set up a Tax Code in the Inventory screen, using a % in the Unit field, the rate of tax in the List Price and an X in the Tax field. (This is the same as a single tax rate.)

B. Any group of items which is ALWAYS exempt from this tax, is identified with a single character in the Buy Description field. This character can be anything except *,E,M,S,T,U and X.

C. Any group of items which is SOMETIMES exempt from this tax is identified with a single character in the P/O Message field. Again, this character can be anything except *,E,M,S,T,U and X.

D. Inventory items are put in a tax group by placing a character in the Tax field on the Inventory screen of the inventory item. Use any character except *,E,M,S,T,U and X.

Multiple Tax Codes (C) (R)

If more than one tax code applies to a Customer, enter the tax codes, separated by commas, in the Tax Status field on the Customer screen. A blank field means exempt from all sales tax. Or you may use the slash (/) option to track tax-exempt sales as explained below.

Multiple tax codes may also be entered on an order or invoice in the Tax field. Enter the same way as Tax Status on the Customer screen.

A customer or invoice may be exempt under a certain tax code, but you may need to track tax-exempt sales for that tax code. To do this, enter the tax code followed by a slash (/). Here are a few examples (where TX and DA are tax codes for Texas and Dallas sales tax).

TX/,DA/ Exempt from TX and DA tax but included in TX and

DA nontaxable sales

TX,DA/ Subject to TX tax, exempt from DA tax, but

included in DA nontaxable sales

TX Subject to TX tax and not included in DA sales

TX/ Exempt from TX tax but included in TX nontaxable

sales and not included in DA sales

Any codes you use, with or without a slash, must be set up in the Inventory screen WITHOUT the slash. For this example, set up TX and DA, but not TX/ and DA/.

Shortcut: if the Tax field (R) already has one or more tax codes, you can make the order/invoice tax-exempt by just entering a /. This will attach a / to each tax code. You can also do this on the Tax Status field (C).

For a report of sales and sales tax for multiple tax codes use Report # 3-5, MULTI-CODE SALES TAX.

Multiple Tax Codes (R)

A single character Tax Group Code can be used in the Tax field near the end of each item line of an invoice. This specifies to which Tax Group the item belongs on the current invoice. If the item has a Tax Group Code that is sometimes taxable under one or more tax codes on that invoice, you are asked if it's taxable under any of them. If not, it will be exempt under the "sometimes" codes. If it is taxable under one of the invoice tax codes, it will be taxed under all the tax codes on that invoice.

The characters E,M,S,T,U and X have various effects as explained on the following pages.

See page 59 for Tax (I)

Use Tax (I)

To track items that need to have Use Tax paid on them, setup Use Tax in the Inventory screene. For example, you could use the code PAU for PA Use Tax. Put a % in the Unit field. Put the tax rate in the List Price field. Put a U in the Tax field.

The items to be tracked for Use Tax must be listed on separate A/R Invoices. (No other items but Use Tax items should be on the invoice). Use the Use Tax Code, (for example PAU) in the Tax field (beside the Terms field) on the invoice.

The Use Tax is NOT added to the invoice.

To see the total cost of Use Tax items, run Report # 3-5, MULTI-CODE SALES TAX. Note that the report lists the total COST of the Use Tax items but does not calculate the Use Tax.

See page 78 for # ~PRICING UNITS:~ ~UNIT OPTIONS:~

Multiplier (I)

Entering a Multiplier here, Report # 2-10, INVENTORY PRICE UPDATE, automatically updates the List Price. You can also use Multiplier to calculate the Book Price or List Price using Alt+K or Alt+L on the Inventory (I) screen. Either way, enter the percentage of List Price that the Book Price should be.

If you use a discount from list price, subtract the discount percent from 100 to get the Multiplier. For example, if the discount is 30%, the Multiplier is 70. If you are working with a markup over cost, you can use this table to find the Multiplier. For example, if the markup is 25%, the Multiplier is 80.

1%=99.01 19%=84.03 37%=72.99 75%=57.14

2%=98.04 20%=83.33 38%=72.46 80%=55.56

3%=97.09 21%=82.64 39%=71.94 85%=54.05

4%=96.15 22%=81.97 40%=71.43 90%=52.63

5%=95.24 23%=81.30 41%=70.92 95%=51.28

6%=94.34 24%=80.65 42%=70.43 100%=50

7%=93.46 25%=80 43%=69.93 110%=47.62

8%=92.59 26%=79.37 44%=69.44 120%=45.45

9%=91.74 27%=78.74 45%=68.97 130%=43.48

10%=90.91 28%=78.13 46%=68.49 140%=41.67

11%=90.09 29%=77.52 47%=68.03 150%=40

12%=89.29 30%=76.92 48%=67.57 160%=38.46

13%=88.50 31%=76.34 49%=67.11 170%=37.04

14%=87.72 32%=75.76 50%=66.67 180%=35.71

15%=86.96 33%=75.19 55%=64.52 190%=34.48

16%=86.21 34%=74.63 60%=62.50 200%=33.33

17%=85.47 35%=74.07 65%=60.61

18%=84.75 36%=73.53 70%=58.82

The computer uses the following formula to find the List Price: List Price = Book Price / Multiplier x 100 x Unit.

For example, if book price is 1.50, and multiplier is 60, and unit is 12, then the list price per dozen would be 30.00. (1.50 / 60 =.025 x 100 = 2.5 x 12 = 30)

If you want the list price to be a fixed amount over cost, enter the amount here, followed by F. For example, 5F means that the list price will be $5.00 more than Book Price plus Freight and Adjustments. This fixed multiplier works differently from a percentage multiplier. With a fixed multiplier, the List updates immediately whenever you enter the Book or the Multiplier. Unlike a percentage multiplier, a fixed multiplier does not work with Alt+K, Alt+L, or Report# 2-10, INVENTORY PRICE UPDATE.

When setting up a sales tax item, the Multiplier can be used to select the method of rounding sales tax. For more info see "Sales Tax Setup and Usage" or press Page 87.

List Price (I)

Enter the list price (selling price) in dollars and cents for the unit quantity of this item. This means the price per dozen, case, hundred, etc.

This field, as well as Book Price, Date List Changed, and Date Book Changed, may be updated automatically, based on bills (B), by Report # 2-10, INVENTORY PRICE UPDATE.

Date List Price Changed (I)

Enter the date the List Price was last changed. The computer will update this field whenever it updates the List Price when using Report # 2-10, INVENTORY PRICE UPDATE.

Book Price (I)

Enter the cost of each item. This is a floating point field which may have up to six decimal places. Notice that Book Price is the cost each, whereas List Price is based on the Unit. For example, if you sell the item by the hundred, enter C in Unit, enter the sell price per hundred in List, and enter the purchase price per each in Book.

EXCEPTION: The Ton unit (T or O) is designed to be used with cost per ton, not per pound, in Book Price.

If you buy the item by the case, enter the cost each, not the case price, in Book. Enter the number per case in Buy Quantity/Case.

Date Book Price Changed (I)

Enter the date the Book Price was last changed. The computer will update this field whenever it updates the Book Price when using Report # 2-10, INVENTORY PRICE UPDATE.

Vendor (I)

If you are using Accounts Payable, enter the code of the vendor from whom you normally buy this item. Certain inventory reports print this code, and some can be sorted by it. It is also used when generating automatic purchase orders with Report # 1-11, INVENTORY ORDER ADVISORY.

Print Code (I)

This field can be used to sort the Inventory screen in special ways, using Report # 1-1, INVENTORY LISTING. For example, you could use Print Code A for a select group of your inventory. Then when you run Report # 1-1, you could press P, to sort by print code. Choosing print code A would give you a list of only the A items.

Report# 1-14, INVENTORY PRICE LIST BY PRINT CODE, can be run for a certain print code or for all print codes.

You can also use Print Code to make subtotals appear on Report # 1-7, INVENTORY VALUE. For each subtotal you want, bring up the last item# in the section to be subtotaled, and enter a T in the Print Code.

Maximum (I)

Enter the maximum quantity you wish to have on hand. This field determines suggested order quantities on Report # 1-11, INVENTORY ORDER ADVISORY.

Periods may be set up to accomodate seasonal items by entering more than one maximum, separated by commas. These periods can be for any length of time you choose. Report # 1-11, INVENTORY ORDER ADVISORY will ask which period number to use. The period number indicates which maximum to use, counting from left to right. If the indicated maximum is blank, or if no period number is specified, the computer will use the maximum for Period 1.