Recent Updates

  • Updated on: May 15, 2020

    Sales Order or Quote Entry

  • Accrued Inventory Payable (also known as Inventory Holding) is a holding account that supports Purchase Order receipts that have not yet been invoiced by the Vendor. The process allows you to reconcile your PO receipts against the Vendor's invoice. As a Liability it carries a nominal Credit balance.

    When you receive a shipment of Inventory (i.e. PO Line Items), your sales team wants access to those items so they can be sold. The Vendor's invoice is typically received sometime after receipt of the Inventory shipment so the Accounts Payable department has not yet recorded an actual Liability for the Purchase. In order to balance the value of Inventory that has been received but not yet paid for, AV makes an entry to a holding account called Accrued Inventory Payable. When a Voucher is set up for the Vendor invoice the Accrued Inventory Payable account relieved by a debit and Accounts Payable is credited.

    The accounting look like this:

    1. Purchase Order Receipt (aka Purchase Event):
      • Debit to Inventory Asset at the PO Cost
      • Credit to Accrued Inventory Payable at the PO Cost
    2. AP Voucher (aka Vendor Invoice):
      • Debit to Accrued Inventory Payable at the PO Cost (netting this account to $0 for the PO receipt).
      • Credit to Accounts Payable for the Voucher amount (or a credit to the GL Account associated with any selected alternate Payment Type)
      • Optional: Additional Debit to Inventory Asset or Cost of Sales for any change in the Vendor's price or to record Landed Costs

    So you can see that the Accrued Inventory Payable account simply holds the value of the received PO items until the Vendor's invoice is entered.

  • Updated on: May 06, 2020

    Big Commerce - Clients & Contacts

  • Updated on: May 04, 2020

    Email Client Statements

  • Updated on: May 01, 2020

    View A/P Aging

    The View AP Aging area shows all records of payments owed the Vendors, including paid and outstanding items.

  • Updated on: May 01, 2020

    View A/R Aging

    The View AR Aging area records all charges on account made by your Clients. Accounts Receivable documents can be created by Invoices, Credit Memos or Adjustments. The AR Aging record will also display payments made against the AR document.

  • Updated on: May 01, 2020

    Work Orders

    This function enables you to build an Assembly based on a Recipe.

    You also have the ability to adjust components & quantities on-the-fly if necessary and include soft costs such as labor or other Non-Inventory items.

    Note: This feature is not to be confused with the Auto-build Assembly feature, where the Assembly is built on-the-fly and bypasses the Work Order.

  • Updated on: May 01, 2020

    Warehouse Transfers - Manual

    You can use the Warehouse Transfer function in two different ways:

    1. Inter-Warehouse Transfer: To transfer items from one Warehouse to another Warehouse.
    2. Intra-Warehouse Transfer: To transfer items from one Location within a Warehouse to another Location within the same Warehouse

    In this lesson we'll look at both scenarios:

  • Updated on: May 01, 2020

    MRP Review

    Material Resource Planning (MRP) compares projected Inventory levels with projected Sales. Minimum and maximum stock levels, along with typical lead times, are evaluated to prompt you to either create or defer Purchase Orders.

  • Updated on: May 01, 2020

    Purchase Order - PO Receive