Setup: General Ledger for Purchases
Purchase Order – G/L Setup
The G/L Menu above contains all the options necessary to configure and export to your external accounting package.
You can add accounts in the GL Account records which correspond to your chart of accounts in the external accounting package. In the example above, we have set up two different cash accounts. One for Tampa, and one for Ft. Meyers. The external account field maps the eoStar account to the corresponding account in the external account package. [see GL Accounts]
If you track sales and purchase of different types of products into different GL accounts, you can set up item groups. The item groups are assigned to the products in the GL Group field on the More panel of the product records (see below). [see GL Item Groups]
Inventory Write-off Groups
If you post to different GL Accounts based on different write-off reasons, you can set up Inventory Write-off Groups. The write-off group is assigned to write-off reasons in the center panel of the Write-off/Return Reason record type. (see below.) [see GL Inventory Write-Off Groups]
If you post to different GL accounts based on the warehouse of a transaction (order, purchase, write-off, transfer), you can set up Warehouse Groups. The warehouse group is assigned to a warehouse on the center panel of the warehouse record (see below). [see GL Warehouse Groups]
The sources within eoStar represent the various transaction types that have an impact on the GL. Within the sources, you can set up a set of rules that defines which accounts are debited and credited when a transaction is posted in eoStar.
In the example above, we have setup up some sample rules for purchases. There are default rules in the center panel, and override rules in the right hand panel. So, if you purchase a non-beer item into the Ft. Meyers warehouse, it will debit Inventory at cost – Ft. Meyer (Non-Beer), and it will credit Payable – Ft. Meyer. [see GL Sources]
[see GL Batches]
Transactions in eoStar are grouped in batches for the purpose of interfacing to an external accounting package. Some things to know about GL Batches:
- There is always exactly one “open” GL batch
- All new transactions are automatically placed in the currently open GL batch
- An open GL Batch may be “closed” at any time for the purpose of reviewing and adjusting the numbers prior to exporting to the external accounting package.
- There may be no more than one “closed” batch in eoStar at any given point in time.
- Transactions may be moved between the “closed” batch and the “open” batch manually from within the interface for the “closed” batch.
- Once the desired transactions are included in the “closed” batch, the batch may be “finalized”.
- A batch may only be finalized if:
- All orders are delivered
- All purchase orders have not been at least received (not necessarily invoiced yet)
- All item transfers have been received
- A batch may not be exported to the external accounting package until it has been finalized.
GL Flow - Purchase
Entering the Purchase
A purchase order is entered in the system. The cost(s) on the purchase comes from one of two places:
- Supplier panel on the product record (there are separate fields on the product record for estimated freight and purchase allowance)
- The last supplier invoice with this product from this supplier
Once the purchase order is entered, it will move through a series of queues in the system. These are found in the Purchase Tracker.
The purchase will initially drop into the “Waiting to be Printed” queue. At this point, you can see the purchase in the GL Batches, but you will not be able to finalize the batch with the purchase in this state.
Once you have printed the purchase, and you move it through the tracker, it moves into the “Waiting to be received” queue. Once you receive the purchase, the batch containing this purchase may be “finalized”.
In the “finalized” GL batch, the panel for the external accounting package export (MAS200 in this example) may be opened, and the data can be exported.
The next queue in the purchase tracker is the “Waiting to be invoiced” queue. This is where the expected costs within the PO are reconciled against what you were actually invoiced by the supplier.
If the cost on the items changes during this process, (the cost of beer was changed from $7.00 to $8.00) the modifications are visible in the finalized batch, and may be re-exported as adjusting entries (Note the red hyperlink below)
Here is the adjusting entry in the export screen. (10 units x $1.00 difference)