Content Comparison

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Breaking Games - Retailer

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General Design

• Use Warehouse instead of Item to segregate inventory by GL Ledgers.

• Consignment Warehouses must have 0 cost.

• Use Transfer Orders to transfer inventory between warehouses, even with different GL Ledgers.

• For all Shopify Sales Orders, Payment Terms must be Prepaid, so debit will go to the Undeposited Cash Account, instead of AR.

• For all Consignment Sales Orders, Unit Cost must be 0.

• For all Consignment Sales Orders

  • For Breaking Games (there are two consignment warehouses), we must keep the Unit Price as it is (not 0) so that when we post Sales Invoices, we can:

    • DR AR

    • CR Client Fund Payable

  • For Blackbox (there is one consignment warehouse), we must keep the Unit Price as 0 so that we don’t create GL Entries in the Undeposited Cash Account.

Transaction Types

Accounting Entries

Detailed Processes

From Opportunity, create:

• Purchase Order

  • Use "Yongle Owned" Warehouse

  • Create a Prepayment Invoice

  • Pay the Vendor.

  • Receive

  • Invoice

    • Debit Inventory for "Yongle Owned", $3

    • Credit AP, $3

• Use Client Sales Order to transfer ownership to Clients.

  • Use "Yongle Owned" Warehouse

  • Create a Prepayment Invoice

  • Get paid.

  • Then Allocate and Ship

  • Invoice

    • DR AR

    • CR Revenue (4190-BG Merchandise Sales), $10

    • DR COGS (5280-Cost of Goods Sold - Misc), $3

    • CR Inventory for "Yongle Owned"

You make $7

• In Youngle consignment, I will have quantity 1,

  To add inventory to "Yongle Consignment"

• Click the Create Item Adjustment Journal button on Whse shipment - to be programmed, pending further instruction

  • This is the moment to decide which warehouse to use.

  • The warehouse will decide the division code.

• The Item Adjustment Journal may be created manually.

• Unit Cost will be 0 for all consignment inventory.

at 0 cost.

• To When ready to transfer inventory from "Yongle Consignment" to "NJ Consignment", or from "Yongle Owned" to "NJ Owned" (only for Breaking Games), you can use Transfer Order.

• From "Yongle Consignment" to "NJ Consignment"

  • Division = Ad Magic

• From "Yongle Owned" to "NJ Breaking Games Owned"

  • To Division = Break Games

• Create and Post Transfer Shipment

Whse Receive against Transfer Order

Breaking Games Consignment or Blackbox Consignment

• Manually create a Transfer Order to transfer inventory from Yongle Consignment to Breaking Games Consignment or BlackBox Consignment

• Post the Whse Shipment

• When the goods arrive at BG or BB Consignment, create Whse Receipt.

• Receive EDI Orders from Walmart and Target

  Create new sales orders using "Yongle Consignment" or "NJ Consignment" Warehouses

  with consignment Warehouse.

  • Allocate and ship

  • Invoice

    • DR B/S Contra Consignment Inventory (Account COGS) $0

      • with 0 inventory value

    • CR Inventory (Consignment Warehouses) $0

    • DR AR $20

    • CR Client Fund Payable (Account Sales) $19CR Service Revenue $1$20

    • Programming Note:

      • Added Account Posting Group to Warehouse and assign - done

      • Consignment to consignment Warehouses

      Owned to owned warehouses

      • Added Sales Invoice Line trigger to look for the correct APS to use based on the Accounting Posting Group defined on Warehouse - done

• When AR is received from the client's customers, then pay the client.

  Monthly sales invoice to the Client.

  • Create a Payable

    • DR Client Fund Payable

    • CR AP (to your client)

  • Create Cash Disbursement

    • DR AP

    • CR Bank Account

Ad Magic - Bulk Sales

From Opportunity, create:

• Create a Purchase Order

  • Use "Yongle Owned" Warehouse

  • Create a Prepayment Invoice

  • Pay the Vendor.

  • Receive

  • Invoice

    • DR Inventory ("Yongle Owned" Warehouse)

    • CR AP

• Create a Sales Order

  • Use"Yongle Owned" Warehouse

  • Create a Prepayment Invoice

  • Get paid.

  • Then Allocate and Ship

  • Invoice

    • DR COGS

    • CR Inventory ("Yongle Owned" Warehouse)

    • DR AR

    • CR Revenue

Service Invoices for 3PL Service - Still waiting for the detailed requirements

• • • DR Service Fees and Expenses

      • Need more discussions on logic

        • Fixed amount

        • % of sales amount

        • Receiving, Storage,

Link to the Excel file shared in the meeting:

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• • Create Cash Disbursement

    • DR AP

    • CR Bank Account