12/17/2024 Meeting Notes

Financed Items:

• Financed items must post to a separate payables GL account to avoid inflating short-term liabilities on the balance sheet.

• Use GoldFinch intercompany functionality to define a default payable GL account on the vendor record.

  • Add Intercompany checkbox

• Set the pay-to vendor on the PO as the financing company.

Mass Purchase Invoice Processing:

• Purchase invoices (PIs) can be created after warehouse receipts (WRs) or purchase orders (POs).

• Bulk creation can be done via a manual process or through the import template.

• Each PI line must reference a warehouse receipt.

Serial Numbers on Purchase Invoices:

• Serial numbers are currently tied to warehouse receipts, not purchase invoices.

• Serial numbers can be pulled via the linkage between purchase invoices (PI) and warehouse receipts (WR).

• Future enhancement discussed: Automatically carry serial numbers to the PI for reporting.

• This would simplify identifying invoices for items sold and making payments.

Default Bin Locations in Fort Myers:

• 77 items have on-hand quantities but no default bin assigned.

• Items in the “extra” bin may not have been incorrectly recorded during warehouse movements.

• Missing bins will be manually verified, and data corrections will be exported for review.

• Default bin uploads must use record IDs, not names, to avoid errors.

Warranty Service Automation:

• Adding a warranty service item to a sales invoice should trigger a purchase invoice.

• Currently, only one field exists for warranty service items, but there are eight items in use.

• A checkbox will be added to the item record to identify warranty items for automation.

Open AP Import and Offsetting Accounts:

• Open AP balances need to be imported without duplicating previously recorded expenses.

• A miscellaneous GL account will be used to offset AP during the import.

• The offset will be cleared when the opening trial balance is imported as of December 31, 2024.

Accounts Receivable (AR) and Accounts Payable (AP) for Go-Live:

• Existing AR in Goldfinch will remain; additional AR from IDS will be imported.

• Non-real AP in Goldfinch, such as internal transactions, will be cleared before importing AP data.

Warranty Work Orders:

• Open warranty work orders need review to ensure invoices bill the correct warranty company, not the customer.

• Closing these work orders will clear outstanding receivables.

Inventory Data:

• Current inventory balances in Goldfinch are accurate.

• Inventory for additional warehouses will be imported as part of the go-live process.

Warehouse Data Cleanup:

• Bin issues in Fort Myers will be resolved with manual verification and updates.

• Default bin locations, safety stock, and reorder points for other warehouses will be uploaded.