Accounting Talk » Management Accounting » Duty – Profit & Loss (UK)
Duty – Profit & Loss (UK)
Question:
I don’t know sage pe se. It is not sold here in the US. I do know that their high-end product, which i believe is now called Sage Enterprise or MAS500, can handle landed costs correctly. Landed Cost calculations are a nice feature to have but they add a significant level of complexity to the package. For most small businesses, the year-end adjustments are good enough, and your tax authority – Internal Revenue (?) will be quite satisfied with year-end adjustments. When you allocate landing costs to expenses (versus inventory cost) the overall profit picture gets distorted (lowered). However, the primary benefit of tracking landed cost goes to the business itself. When correctly done, it can provide a good insight into the actual cost of your merchandise, which then helps management make better pricing decisions. This is not a new concept, nor is it limited to importing goods. The basic principle, that the cost of a product should include all costs related to getting the product to your premises in a state that is ready for sale, applies to many situations. HS
– Hide quoted text — Show quoted text – That is corect advice – but only partly. When the inventory item is subsequently sold then the duty paid on that item would have to expensed out – in the P&L. Many small accounting software packages like Peachtree do not have the ability to add "Landing" expenses to inventory. As a result, many importers just expense off the duty portions when paid and at the end of the year they make an adjusting entry at the end of the year. This entry is subsequently reversed at the beginning of the next year. Talk to your accountant on how you should handle this. HS If it’s an inventory item it should be part of inventory cost and not Is it possible for sage to deal correctly with "landing" expenses n cumberland expensed. — Ken Russell | When making a payment for Duty levied on a Foreign or EC Purchase | Invoice that has been paid by the Shipper on your behalf, where should | the payment appear on the P&L, is it a separate entry or is it | combined with other taxes etc? | TIA | Patrick
Response:
Thanks for your replies. Patrick – Hide quoted text — Show quoted text – When making a payment for Duty levied on a Foreign or EC Purchase Invoice that has been paid by the Shipper on your behalf, where should the payment appear on the P&L, is it a separate entry or is it combined with other taxes etc? TIA Patrick
Response:
When making a payment for Duty levied on a Foreign or EC Purchase Invoice that has been paid by the Shipper on your behalf, where should the payment appear on the P&L, is it a separate entry or is it combined with other taxes etc? TIA Patrick
Response:
If it’s an inventory item it should be part of inventory cost and not expensed. — Ken Russell
| When making a payment for Duty levied on a Foreign or EC Purchase | Invoice that has been paid by the Shipper on your behalf, where should | the payment appear on the P&L, is it a separate entry or is it | combined with other taxes etc? | TIA | Patrick
Response:
That is corect advice – but only partly. When the inventory item is subsequently sold then the duty paid on that item would have to expensed out – in the P&L. Many small accounting software packages like Peachtree do not have the ability to add "Landing" expenses to inventory. As a result, many importers just expense off the duty portions when paid and at the end of the year they make an adjusting entry at the end of the year. This entry is subsequently reversed at the beginning of the next year. Talk to your accountant on how you should handle this. HS
– Hide quoted text — Show quoted text – If it’s an inventory item it should be part of inventory cost and not expensed. — Ken Russell | When making a payment for Duty levied on a Foreign or EC Purchase | Invoice that has been paid by the Shipper on your behalf, where should | the payment appear on the P&L, is it a separate entry or is it | combined with other taxes etc? | TIA | Patrick
Response:
- Hide quoted text — Show quoted text – That is corect advice – but only partly. When the inventory item is subsequently sold then the duty paid on that item would have to expensed out – in the P&L. Many small accounting software packages like Peachtree do not have the ability to add "Landing" expenses to inventory. As a result, many importers just expense off the duty portions when paid and at the end of the year they make an adjusting entry at the end of the year. This entry is subsequently reversed at the beginning of the next year. Talk to your accountant on how you should handle this. HS If it’s an inventory item it should be part of inventory cost and
not Is it possible for sage to deal correctly with "landing" expenses n cumberland – Hide quoted text — Show quoted text – expensed. — Ken Russell | When making a payment for Duty levied on a Foreign or EC Purchase | Invoice that has been paid by the Shipper on your behalf, where should | the payment appear on the P&L, is it a separate entry or is it | combined with other taxes etc? | TIA | Patrick
Response:
- Hide quoted text — Show quoted text – That is corect advice – but only partly. When the inventory item is subsequently sold then the duty paid on that item would have to expensed out – in the P&L. Many small accounting software packages like Peachtree do not have the ability to add "Landing" expenses to inventory. As a result, many importers just expense off the duty portions when paid and at the end of the year they make an adjusting entry at the end of the year. This entry is subsequently reversed at the beginning of the next year. Talk to your accountant on how you should handle this. HS If it’s an inventory item it should be part of inventory cost and not expensed. — Ken Russell | When making a payment for Duty levied on a Foreign or EC Purchase | Invoice that has been paid by the Shipper on your behalf, where should | the payment appear on the P&L, is it a separate entry or is it | combined with other taxes etc? | TIA | Patrick its all very confusing sometimes!
ally
Response:
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Accounting Talk » Accountants » OT: humorous mac link
OT: humorous mac link
Question:
"Eerie Rodent of Unusual Size & Typing Ability" <Departm…@fKeepingItReal.gov> wrote in message
news:tXr%a.607$n94.588@fed1read04… > "ImJustOne" <imjust…@msn.com> wrote in message > news:n1j%a.1906$ag5.88854634@newssvr13.news.prodigy.com… > > > http://www.waveworks.net/mac.html > > lol, thanks for posting that! > And here’s another: > http://www.redvsblue.com/appleswitch.shtml
Thanks, i should send these to every jerk i ever knew that talked shit about pc’s and about how great MAC’s are (mostly accountants).
Response:
"fallout" <fallo…@comcast.net> wrote in message
news:TGC%a.135764$It4.54240@rwcrnsc51.ops.asp.att.net… – Hide quoted text — Show quoted text -> "Eerie Rodent of Unusual Size & Typing Ability" > <Departm…@fKeepingItReal.gov> wrote in message > news:tXr%a.607$n94.588@fed1read04… > > "ImJustOne" <imjust…@msn.com> wrote in message > > news:n1j%a.1906$ag5.88854634@newssvr13.news.prodigy.com… > > > > http://www.waveworks.net/mac.html > > > lol, thanks for posting that! > > And here’s another: > > http://www.redvsblue.com/appleswitch.shtml > Thanks, i should send these to every jerk i ever knew that talked shit about > pc’s and about how great MAC’s are (mostly accountants).
I especially liked the part about how to update your MAC. "Simple, just throw it in the trash."
Response:
Eerie Rodent of Unusual Size & Typing Ability wrote: > I especially liked the part about how to update your MAC. "Simple, just > throw it in the trash."
Actually you just enter the admin login so "Software Update" gets admin rights to do its job. Above and beyond that crappy Windows Update thing.
Response:
"ImJustOne" <imjust…@msn.com> wrote in message
news:n1j%a.1906$ag5.88854634@newssvr13.news.prodigy.com… > > http://www.waveworks.net/mac.html > lol, thanks for posting that!
And here’s another: http://www.redvsblue.com/appleswitch.shtml
Response:
(Flash) http://www.waveworks.net/mac.html
Response:
"Eerie Rodent of Unusual Size & Typing Ability" <Departm…@fKeepingItReal.gov> wrote in message
news:dad%a.468$n94.401@fed1read04… > (Flash) > http://www.waveworks.net/mac.html
Finally,,, the truth about MAC’s.
Response:
"Eerie Rodent of Unusual Size & Typing Ability" <Departm…@fKeepingItReal.gov> wrote in message
news:dad%a.468$n94.401@fed1read04… > (Flash) > http://www.waveworks.net/mac.html
lol, thanks for posting that!
Response:
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Accounting Talk » Accounting Company » cima part-qualified ?
cima part-qualified ?
Question:
I am studying cima at the moment and I would like to know at which stage you can be considered to be a part qualified accountant. Thanks for your help.
Response:
I am studying cima at the moment and I would like to know at which stage you can be considered to be a part qualified accountant. Thanks for your help.
If you want to be an part qualified accountant, the qualified stage will be you at the stage before the final stage. But, it will be more advantage if you possess a few years accounting working experience.
Response:
Part qualified could occur between stage 1 and 2 i.e standard and intermediate, a lot would depend on experience but if you have done full accounts for a Company it would be fair to present yourself as P/Q Jason
– Hide quoted text — Show quoted text – I am studying cima at the moment and I would like to know at which stage you can be considered to be a part qualified accountant. Thanks for your help. If you want to be an part qualified accountant, the qualified stage will be you at the stage before the final stage. But, it will be more advantage if you possess a few years accounting working experience.
Response:
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Accounting Talk » Accounting Audit » question on CPA CPe and peer review
question on CPA CPe and peer review
Question:
hello all, I heve a question on the content of some earlier newsletters What is a CPA, a CPE and a Peer review? In which countries are those qualifications used? Thanks for helping me out understanding this newsgroup Claudius
Response:
hello all, I heve a question on the content of some earlier newsletters What is a CPA, a CPE and a Peer review? In which countries are those qualifications used? Thanks for helping me out understanding this newsgroup Claudius
Dear Claudius, I am an ACCA, member of the Chartered Association of Certified Accountants, in the UK. I hope my answers help with your question. My American colleagues use the designation of CPA, Certified Public Accountant, to show that they have been accepted at a standard of acceptable professional competence and experience in the American accounting field. CPE is a term used in many professions for Continuing Professional Education, which is often set as a target number of hours training each year to maintain the qualification, membership or professional status. Peer review in the UK is used as a description of the process whereby your work is checked independently by a professional at the same level as yourself. This can be in any field, but is usually used in audit work to use the contribution of the experience of others to reduce risk of missing things. Good Luck, Mike Tyler
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Accounting Audit
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Accounting Talk » Office Accounting » Y2K idiots
Y2K idiots
Question:
"A flat of beer and a ring of garlic sausage" was the reply.
Boy, which end of you is smelling the ripest?
Response:
Well excuuussse mE! At least I’ll be able to use these 20,000 gal of water come summer. Joel. phx ;) – Hide quoted text — Show quoted text – So, like when is all hell suppose to break loose? What a bunch of bunk! I hope all you who bought food, water, and those shiny generators, don’t feel Tom Plamann
Response:
Mine came from my dad… it was built by him from two other generators,and rewired. It could go bye bye anytime, and as with you Hurricanes are a real threat. — Tom, Maker of Fine Sawdust and thin Shavings
– Hide quoted text — Show quoted text – I for one will be checking out the adds for a "slightly" used generator at 1/2 price. Down here in hurricane alley it might come in handy and I could never bring myself to pay full price : I’m only sorry that I didn’t climb on the "Gotta buy this to save your ass…" bandwagon. My boss, who bought enough bottled water to bathe in every day for a month, asked what my Y2K preparations were. "A flat of beer and a ring of garlic sausage" was the reply. Now I wonder how much I could have gotten for "designer, interlocking firewood"? Happy New Year one and all! Jim W. http://www.telusplanet.net/public/mechanic
– Hide quoted text — Show quoted text – So, like when is all hell suppose to break loose? What a bunch of bunk! I hope all you who bought food, water, and those shiny generators, don’t feel too bad about us laughing at you. It’s a shame that the world had to spend so much money on nothing. Now for those of you who ever wanted a generator, watch the adds in your local paper. Tom Plamann www.plamann.com Chris
Response:
Actually, it all wasn’t a "bunch of bunk". There were problems. But by paying attention to what was going on and putting in a _lot_ of work ahead of time, many problems never had a chance to develop. For the last three years, as Chief Information Officer, I have spent 1 – 3 hours a day communicating with and getting on top of Y2K problems and issues for our company. Many of the phone systems at our locations were not Y2K compliant and had to be changed out. We had alarm systems that failed if the date was set forward in some places. We made several system updates to our older unix operating systems and had to make changes in code in some areas where shortcuts had been taken around approved date programming practices. Because of our preparedness, nothing went wrong on 1/1/00. If we’d have just sat on our butts, there would have been problems.
The fact that you spent so much money and time fixing the problem should make those that bought the generators and Y2K survival kits look even dumber. The amount of hype surrounding the bug, and the amount of time that companies that run vital systems (power, medical) spent should have made these people realize that everyone knows about the bug and has fixed it. If it were a small, not very publicised problem then perhaps they could have worried, but EVERYONE saw this one coming a mile away. — Lee Kembel
Response:
It is easy to "monday night quarterback" and whine and cry that nothing has happened, and how foolish it was to be concerned. I say I am thankful for and appreciate the efforts of the concerned folks who worked very hard so we would not experience expected problems. As far as the people who chose to be prepared, what the heck is it to you, they are the ones who spent their money or whatever..It is no skin off your butt. lighten up a bit and enjoy the new year. Ann
Response:
If nothing untoward happened in the US and Europe because of all the enormous effort to thwart the Y2K monster, then where are all the horror stories from from the rest of the world that presumably inherited all the potential problems but invested so little in solving it? Stan K.
You ever used the electricity in banana republics? My guess is nobody has bothered to turn on the computers in the last 10 years because they’ve *never* worked right! Or the news lines are down, and the couriers on horseback just haven’t gotten north of the border yet. …Kevin — Kevin & Theresa Miller http://www.alaska.net/~atftb
Response:
- Hide quoted text — Show quoted text – So, like when is all hell suppose to break loose? What a bunch of bunk! I hope all you who bought food, water, and those shiny generators, don’t feel too bad about us laughing at you. It’s a shame that the world had to spend so much money on nothing. Now for those of you who ever wanted a generator, watch the adds in your local paper. Tom Plamann www.plamann.com Actually, it all wasn’t a "bunch of bunk". There were problems. But by paying attention to what was going on and putting in a _lot_ of work ahead of time, many problems never had a chance to develop. For the last three years, as Chief Information Officer, I have spent 1 – 3 hours a day communicating with and getting on top of Y2K problems and issues for our company. Many of the phone systems at our locations were not Y2K compliant and had to be changed out. We had alarm systems that failed if the date was set forward in some places. We made several system updates to our older unix operating systems and had to make changes in code in some areas where shortcuts had been taken around approved date programming practices. Because of our preparedness, nothing went wrong on 1/1/00. If we’d have just sat on our butts, there would have been problems. On 1/3/00 I was at a medical office where things were at a standstill- there software was not Y2K compliant and they couldn’t do anything… Here’s a sample of "bunk" for you. Our accounting firm, one of the Big 5, while auditing us last year asked if we were Y2K compliant and offered to sell us consulting on the situation. I looked at our CFO and then asked the accounting firm people if they were Y2K ready. They weren’t! (But were gonna be real soon now.) That ended that whole auditing session. — Dave Bennett I agree. I have a software company and we spent a lot of good man hours and $’s last year fixing bugs for y2k and getting the fixes rolled out to a lot of customers. In fact, it made 99 suck. I have ordered all of my programmers to test all software they write for "Y3K" compliance. I will not have this happen again! 8′( If nothing untoward happened in the US and Europe because of all the enormous effort to thwart the Y2K monster, then where are all the horror stories from from the rest of the world that presumably inherited all the potential problems but invested so little in solving it? Stan K.
There were problems elsewhere. Airlines & telephones in Italy; fixed in a few hours, etc. However, NPR (Nat’l Public Radio) had some guests on talking about this and they feel that Governments & Companies in general are not going to be too public about their lack of preparation or inability to solve a problem that has been known and exposed for so long. Kind of like banks not talking about the last time they were hacked and money moved out of their system.
— Dave Bennett
Response:
- Hide quoted text — Show quoted text – So, like when is all hell suppose to break loose? What a bunch of bunk! I hope all you who bought food, water, and those shiny generators, don’t feel too bad about us laughing at you. It’s a shame that the world had to spend so much money on nothing. Now for those of you who ever wanted a generator, watch the adds in your local paper. Tom Plamann www.plamann.com Actually, it all wasn’t a "bunch of bunk". There were problems. But by paying attention to what was going on and putting in a _lot_ of work ahead of time, many problems never had a chance to develop. For the last three years, as Chief Information Officer, I have spent 1 – 3 hours a day communicating with and getting on top of Y2K problems and issues for our company. Many of the phone systems at our locations were not Y2K compliant and had to be changed out. We had alarm systems that failed if the date was set forward in some places. We made several system updates to our older unix operating systems and had to make changes in code in some areas where shortcuts had been taken around approved date programming practices. Because of our preparedness, nothing went wrong on 1/1/00. If we’d have just sat on our butts, there would have been problems. On 1/3/00 I was at a medical office where things were at a standstill- there software was not Y2K compliant and they couldn’t do anything… Here’s a sample of "bunk" for you. Our accounting firm, one of the Big 5, while auditing us last year asked if we were Y2K compliant and offered to sell us consulting on the situation. I looked at our CFO and then asked the accounting firm people if they were Y2K ready. They weren’t! (But were gonna be real soon now.) That ended that whole auditing session. — Dave Bennett I agree. I have a software company and we spent a lot of good man hours and $’s last year fixing bugs for y2k and getting the fixes rolled out to a lot of customers. In fact, it made 99 suck. I have ordered all of my programmers to test all software they write for "Y3K" compliance. I will not have this happen again! 8′(
If nothing untoward happened in the US and Europe because of all the enormous effort to thwart the Y2K monster, then where are all the horror stories from from the rest of the world that presumably inherited all the potential problems but invested so little in solving it? Stan K.
Response:
- Hide quoted text — Show quoted text – So, like when is all hell suppose to break loose? What a bunch of bunk! I hope all you who bought food, water, and those shiny generators, don’t feel too bad about us laughing at you. It’s a shame that the world had to spend so much money on nothing. Now for those of you who ever wanted a generator, watch the adds in your local paper. Tom Plamann www.plamann.com Actually, it all wasn’t a "bunch of bunk". There were problems. But by paying attention to what was going on and putting in a _lot_ of work ahead of time, many problems never had a chance to develop. For the last three years, as Chief Information Officer, I have spent 1 – 3 hours a day communicating with and getting on top of Y2K problems and issues for our company. Many of the phone systems at our locations were not Y2K compliant and had to be changed out. We had alarm systems that failed if the date was set forward in some places. We made several system updates to our older unix operating systems and had to make changes in code in some areas where shortcuts had been taken around approved date programming practices. Because of our preparedness, nothing went wrong on 1/1/00. If we’d have just sat on our butts, there would have been problems. On 1/3/00 I was at a medical office where things were at a standstill- there software was not Y2K compliant and they couldn’t do anything… Here’s a sample of "bunk" for you. Our accounting firm, one of the Big 5, while auditing us last year asked if we were Y2K compliant and offered to sell us consulting on the situation. I looked at our CFO and then asked the accounting firm people if they were Y2K ready. They weren’t! (But were gonna be real soon now.) That ended that whole auditing session. — Dave Bennett
I agree. I have a software company and we spent a lot of good man hours and $’s last year fixing bugs for y2k and getting the fixes rolled out to a lot of customers. In fact, it made 99 suck. I have ordered all of my programmers to test all software they write for "Y3K" compliance. I will not have this happen again! 8′(
Response:
So, like when is all hell suppose to break loose? What a bunch of bunk! I hope all you who bought food, water, and those shiny generators, don’t feel too bad about us laughing at you. It’s a shame that the world had to spend so much money on nothing. Now for those of you who ever wanted a generator, watch the adds in your local paper. Tom Plamann www.plamann.com
Actually, it all wasn’t a "bunch of bunk". There were problems. But by paying attention to what was going on and putting in a _lot_ of work ahead of time, many problems never had a chance to develop. For the last three years, as Chief Information Officer, I have spent 1 – 3 hours a day communicating with and getting on top of Y2K problems and issues for our company. Many of the phone systems at our locations were not Y2K compliant and had to be changed out. We had alarm systems that failed if the date was set forward in some places. We made several system updates to our older unix operating systems and had to make changes in code in some areas where shortcuts had been taken around approved date programming practices. Because of our preparedness, nothing went wrong on 1/1/00. If we’d have just sat on our butts, there would have been problems. On 1/3/00 I was at a medical office where things were at a standstill- there software was not Y2K compliant and they couldn’t do anything… Here’s a sample of "bunk" for you. Our accounting firm, one of the Big 5, while auditing us last year asked if we were Y2K compliant and offered to sell us consulting on the situation. I looked at our CFO and then asked the accounting firm people if they were Y2K ready. They weren’t! (But were gonna be real soon now.) That ended that whole auditing session. — Dave Bennett
Response:
And I thought I was the only one that thought this. — CW KC7NOD
– Hide quoted text — Show quoted text – Just more american hype because were bored shitless of ourselves. Never fails to amaze me .Bunch of weenies ( not the group)
Response:
Just more american hype because were bored shitless of ourselves. Never fails to amaze me .Bunch of weenies ( not the group) – Hide quoted text — Show quoted text – It hits the fan first in early February when month-end billing, inventory, and ordering is screwed up. It really hits the fan in mid-February when billing and accounts payable systems are discovered to be incorrect for The Empire of Kafiristan’s payments for oil to the Republic of Recently Nuclear Capable Regime. Quarter-end accounting routines, and 1999 year-end processing runs are all yet to happen. I didn’t buy a generator or water. I bought beer and nuts. ****** Or maybe buy the beer for the nuts?
Response:
It hits the fan first in early February when month-end billing, inventory, and ordering is screwed up. It really hits the fan in mid-February when billing and accounts payable systems are discovered to be incorrect for The Empire of Kafiristan’s payments for oil to the Republic of Recently Nuclear Capable Regime. Quarter-end accounting routines, and 1999 year-end processing runs are all yet to happen. I didn’t buy a generator or water. I bought beer and nuts.
****** Or maybe buy the beer for the nuts?
Response:
Good for them! I saw similar signs in BJ’s this weekend. ROFL. Our local HDs and Lowe’s had sighns posted to the effect that all sales were final on generators. Forget the return line, check out your Penneysaver ;^ Cheers, Rob Weaver Nah… ain’t gonna happen. See, they kept them in their cartons, figuring if nothing went wrong, they’d return them… watch the customer service line at Home Depot this week.
Rick Marinelli http://www.erols.com/rickandlisa
Response:
Our local HDs and Lowe’s had signs posted to the effect that all sales were final on generators. Forget the return line, check out your Penneysaver ;^ Cheers, Rob Weaver Nah… ain’t gonna happen. See, they kept them in their cartons, figuring if nothing went wrong, they’d return them… watch the customer service line at Home Depot this week.
I wonder if HD’s beat any price will apply to new unopened generators offered in the Y2K section of the newspaper?
Response:
AMEN.
Response:
So, like when is all hell suppose to break loose? What a bunch of bunk! I hope all you who bought food, water, and those shiny generators, don’t feel too bad about us laughing at you. It’s a shame that the world had to spend so much money on nothing. Now for those of you who ever wanted a generator, watch the adds in your local paper.
Nah… ain’t gonna happen. See, they kept them in their cartons, figuring if nothing went wrong, they’d return them… watch the customer service line at Home Depot this week. Rick Marinelli http://www.erols.com/rickandlisa
Response:
Our local HDs and Lowe’s had sighns posted to the effect that all sales were final on generators. Forget the return line, check out your Penneysaver ;^ Cheers, Rob Weaver – Hide quoted text — Show quoted text – Nah… ain’t gonna happen. See, they kept them in their cartons, figuring if nothing went wrong, they’d return them… watch the customer service line at Home Depot this week.
Response:
Our local HDs and Lowe’s had signs posted to the effect that all sales were final on generators. Forget the return line, check out your Penneysaver ;^ Cheers, Rob Weaver – Hide quoted text — Show quoted text – Nah… ain’t gonna happen. See, they kept them in their cartons, figuring if nothing went wrong, they’d return them… watch the customer service line at Home Depot this week.
Response:
It hits the fan first in early February when month-end billing, inventory, and ordering is screwed up. It really hits the fan in mid-February when billing and accounts payable systems are discovered to be incorrect for The Empire of Kafiristan’s payments for oil to the Republic of Recently Nuclear Capable Regime. Quarter-end accounting routines, and 1999 year-end processing runs are all yet to happen. I didn’t buy a generator or water. I bought beer and nuts. — — Don Burt – Design/Fabrication — Frogacuda Productions – Cool Glass Stuff Division – Hide quoted text — Show quoted text – So, like when is all hell suppose to break loose? What a bunch of bunk! I hope all you who bought food, water, and those shiny generators, don’t feel too bad about us laughing at you. It’s a shame that the world had to spend so much money on nothing. Now for those of you who ever wanted a generator, watch the adds in your local paper. Tom Plamann www.plamann.com
Response:
So, like when is all hell suppose to break loose? What a bunch of bunk! I hope all you who bought food, water, and those shiny generators, don’t feel too bad about us laughing at you. It’s a shame that the world had to spend so much money on nothing. Now for those of you who ever wanted a generator, watch the adds in your local paper. Tom Plamann www.plamann.com
Response:
What was I thinking! You can’t read this anyway! Your computer doesn’t work any more. Tom
– Hide quoted text — Show quoted text – So, like when is all hell suppose to break loose? What a bunch of bunk! I hope all you who bought food, water, and those shiny generators, don’t feel too bad about us laughing at you. It’s a shame that the world had to spend so much money on nothing. Now for those of you who ever wanted a generator, watch the adds in your local paper. Tom Plamann www.plamann.com
Response:
So, like when is all hell suppose to break loose? What a bunch of bunk! I hope all you who bought food, water, and those shiny generators, don’t feel too bad about us laughing at you. It’s a shame that the world had to spend so much money on nothing. Now for those of you who ever wanted a generator, watch the adds in your local paper. Tom Plamann www.plamann.com
Amen to that! Should be able to find many good deals on generators now…Me thinks I’ll purchase one…for actual black-outs, you see… GHP
Response:
I’m only sorry that I didn’t climb on the "Gotta buy this to save your ass…" bandwagon. My boss, who bought enough bottled water to bathe in every day for a month, asked what my Y2K preparations were. "A flat of beer and a ring of garlic sausage" was the reply. Now I wonder how much I could have gotten for "designer, interlocking firewood"? Happy New Year one and all! Jim W. http://www.telusplanet.net/public/mechanic – Hide quoted text — Show quoted text – So, like when is all hell suppose to break loose? What a bunch of bunk! I hope all you who bought food, water, and those shiny generators, don’t feel too bad about us laughing at you. It’s a shame that the world had to spend so much money on nothing. Now for those of you who ever wanted a generator, watch the adds in your local paper. Tom Plamann www.plamann.com
Response:
I for one will be checking out the adds for a "slightly" used generator at 1/2 price. Down here in hurricane alley it might come in handy and I could never bring myself to pay full price : – Hide quoted text — Show quoted text – I’m only sorry that I didn’t climb on the "Gotta buy this to save your ass…" bandwagon. My boss, who bought enough bottled water to bathe in every day for a month, asked what my Y2K preparations were. "A flat of beer and a ring of garlic sausage" was the reply. Now I wonder how much I could have gotten for "designer, interlocking firewood"? Happy New Year one and all! Jim W. http://www.telusplanet.net/public/mechanic So, like when is all hell suppose to break loose? What a bunch of bunk! I hope all you who bought food, water, and those shiny generators, don’t feel too bad about us laughing at you. It’s a shame that the world had to spend so much money on nothing. Now for those of you who ever wanted a generator, watch the adds in your local paper. Tom Plamann www.plamann.com
Chris
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Accounting Talk » Financial Accounting » QuickBooks File Formats – Bad News
QuickBooks File Formats – Bad News
Question:
I do not know if QB wants users to need more help from advisors, but I have bad news for QB users and advisors. Most of us have long know that many program upgrades involve data conversions that you cannot reverse, without excessively expensive custom work. We also have grown used to having to often upgrade programs. However, QB has now taken this to a dangerous extreme. Q 5 release 3 and 4 had different file formats from QB 5 release 1 and 2. QB6 had a new format, as did QB99 release 1. QB99 release 2 now has a different format from QB99 release 1. QB99 also seems to press for interim tax table upgrades, at $60 a year, but release upgrades are free. QB99 release 2 is dangerous in not warning about release 1 data file upgrades. This means we do not know when we make clients unable to read their files until they upgrade. They first suspect damaged files. It also means QB specialists like us must keep all versions, unless we want to keep making users get new versions and release. That may be exactly what QB wants, but even QB specialists can waste lots of time and lose many clients this way. Even if QB6 or 99 are not in use, they stop QB5 from importing data into TurboTax 97 or 98. This means using Partition Magic to give hard disks alternate C: drives. If extra partitions only have QB5 & a copy of Windows and TurboTax we cannot use other applications. Therefore, we need shared D: drives for everything but Windows and QB5. It also means we may need bigger hard drives on systems, new systems, lots of wasted time and fee increases. Microsoft, for all its faults, seems to have finally learned that total cost of ownership is one of the biggest user issues. QB seems to be going in the opposite direction.
Response:
… I have bad news for QB users and advisors. Most of us have long know that many program upgrades involve data conversions that you cannot reverse, without excessively expensive custom work. We also have grown used to having to often upgrade programs. However, QB has now taken this to a dangerous extreme. Q 5 release 3 and 4 had different file formats from QB 5 release 1 and 2. QB6 had a new format, as did QB99 release 1. QB99 release 2 now has a different format from QB99 release 1. QB99 also seems to press for interim tax table upgrades, at $60 a year
This fits perfectly with my understanding of what Intuit is doing. They are herding all the Quickbooks and Quicken users into as large a pool as possible, by all available means, and building powerful payments and billing features into www.quicken.com. Then the bill presentment people, banks, etc. offer services at Quicken.com and somebody pays a fee to Intuit (either the Quickbooks customer or the service provider. What’s the difference. Same thing.) I call this RC/RH architecture. You get a rich client that is easy for any layman to use, fun and gives you the illusion of privacy and control over your data. Intuit’s whole business has changed, to sell access to this market of millions of people having the ideal characteristics: doltish and mediocre intellect, too suspicious to trust accountants or Web GLs, but having a little money. People who are into online investing and other foolish pasttimes like that, who think they can play money games with a computer, and make a profit from that. Obviously Intuit has got to stay as far as possible away from standards like XML. They are going to continue to make the database hard to figure out, and change it often. Recall how Microsoft totally threw everybody off the trail when they changed the file format from Word 6 to Word 97? I expect that kind of radical change from Intuit in the future. I would not be at all surprised if they put some data-scrambling in the file, and called it security. The users who behave themselves and buy the upgrade won’t even notice the change. But it will discourage all the add-on people and Websites that want to perform financial services, billing, payments etc. for Quickbooks users in competition with www.quicken.com …… The recommended architecture for future accounting systems is an accounting service provided by a host on the internet. Evaluate these objectively when theses accounting services start to emerge. Forget the complex Microsoft platform, the perpetual upgrades and maintenance. Achieve secure internet transactions and multi-site remote access in one step, and cheaper than Quickbooks. These Web GLs will have no manual processes at the host. "No moving parts" = cheap to run. As soon as a coherent set of standards based on XML are published by accounting bodies, we’ll start to see a competitive market in Web General Ledgers begin to emerge: practical, down-to-earth accounting infrastructure on the internet. * Todd F. Boyle CPA http://www.GLDialtone.com/ * 9745-128th Av NE, Kirkland WA 98033 (425) 827-3107 * Accounting ASP, Web ledger, netledger, web GL, GL Dialtone, whatever.
Response:
– Hide quoted text — Show quoted text – I do not know if QB wants users to need more help from advisors, but I have bad news for QB users and advisors. Most of us have long know that many program upgrades involve data conversions that you cannot reverse, without excessively expensive custom work. We also have grown used to having to often upgrade programs. However, QB has now taken this to a dangerous extreme. Q 5 release 3 and 4 had different file formats from QB 5 release 1 and 2. QB6 had a new format, as did QB99 release 1. QB99 release 2 now has a different format from QB99 release 1. QB99 also seems to press for interim tax table upgrades, at $60 a year, but release upgrades are free. QB99 release 2 is dangerous in not warning about release 1 data file upgrades. This means we do not know when we make clients unable to read their files until they upgrade. They first suspect damaged files. It also means QB specialists like us must keep all versions, unless we want to keep making users get new versions and release. That may be exactly what QB wants, but even QB specialists can waste lots of time and lose many clients this way. Even if QB6 or 99 are not in use, they stop QB5 from importing data into TurboTax 97 or 98. This means using Partition Magic to give hard disks alternate C: drives. If extra partitions only have QB5 & a copy of Windows and TurboTax we cannot use other applications. Therefore, we need shared D: drives for everything but Windows and QB5. It also means we may need bigger hard drives on systems, new systems, lots of wasted time and fee increases. Microsoft, for all its faults, seems to have finally learned that total cost of ownership is one of the biggest user issues. QB seems to be going in the opposite direction.
Thanks for the info, Mike. Looks like Intuit is hell-bent on killing the golden goose. Their new marketing concept flies in the face of the openness of the Internet/Web, and I trust that it will come back to haunt them. Peachtree may have a good opportunity to get back on top of the small business accounting software heap if it remembers that users want/deserve ease of access to and control over their own data. It needs to continue on the path it started when it made complete accounting available to small businesses back in the 1980’s while Scott Cook was huddled over his kitchen table trying to automate a checkbook! Regards, — Robert W. Scroggins, CPA A Texas CPA http://members.aol.com/rscrogg562/ Share what you know. Learn what you don’t.
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Accounting Talk » Accounting » MYOB Premier too slow over network
MYOB Premier too slow over network
Question:
Hi all, 2 Questions 1) Has anyone out there got MYOB Premier working across a network with more than 2 users at a decent speed? 2) Has anyone got advice to speed up MYOB Premier? MYOB Premier is extremely slow when used across the network (waiting 5 min to display a report). MYOB Premier locally (not connected the network) is OK. Has anyone had a similar experience and fixed it? I have been to the MYOB web site and followed all the instructions apart from upgrading the network to a 100Mb network which we are in the process of doing and still no joy. Any advice will be enormously appreciated. Todd
Response:
- Hide quoted text — Show quoted text – Hi all, 2 Questions 1) Has anyone out there got MYOB Premier working across a network with more than 2 users at a decent speed? 2) Has anyone got advice to speed up MYOB Premier? MYOB Premier is extremely slow when used across the network (waiting 5 min to display a report). MYOB Premier locally (not connected the network) is OK. Has anyone had a similar experience and fixed it? I have been to the MYOB web site and followed all the instructions apart from upgrading the network to a 100Mb network which we are in the process of doing and still no joy. Any advice will be enormously appreciated. Todd
Only last week I got a new Pentium III server, with NT4 Server and 100Mb network. It’s speed is now OK :-] (I got the new hardware for my new CeeData Desktop system, not Premier) Previously, to work around the problem, when I have a lot of data to entered, I copied the data file to my local hard drive first. – Just remember to tell the other users not to bother entering anything new while you are working this way. Personal Opinion Only Raoul Dunk Salisbury, South Australia "We are what we repeatedly do. Excellence, then, is not an act, but a habit." — Aristotle Remove NOSPAM to email me. http://adelaidesa.8m.com/rpdunk.htm
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This would appear to be a network problem though only manifesting itself in MYOB. What type network OS are you using and how much RAM is on the server? Many accounting systems work from a local database engine when running locally and then go to a server database engine when networked. This can have a real effect on performance if your server is not up to the load. Check out server useage stats. I wouldn’t think that faster line speed (100BaseT) is all the solution you’ll need. Luck, Dana To reply, please remove NOSPAM from the address Visit our web site at http://www.tailored-computing.com
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You are experiacing a problem which myob will not admit to I have a customer in Cairns which MYOB paid me to install terminal server on there system to fix this up They also paid for the package and client liecences There system is PII 350 10 gig hdd 192 meg ram they have an inventory of over 6500 items they spent over 2000$ with different company’s trying to fault there system only to find out that this is a software problem —Share what you know. Learn what you don’t.—
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Accounting Talk » Accounting Company » Peachtree Job Cost Question
Peachtree Job Cost Question
Question:
My brothers & I have a small CNC machining company (100% job shop) and we use peachtree for the normal expected accounting/payroll chores. I have job costing setup for us to track profitability of each job we do however I have a problem when it comes to tracking direct labor costs. Since my brothers & I are all owners and have decided to be salaried employees, it seems to be a problem to record hours time tickets on time tickets and to know what hourly rate should be used for calculating actual labor cost on the jobs. Since we pay each week a fixed amount and don’t always work the same total hours for each week, it seems like our hourly wage would change from week to week. How can I use time tickets to record time and calculate actual labor costs when the employees are salaried? Thanks, tom
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- Hide quoted text — Show quoted text – My brothers & I have a small CNC machining company (100% job shop) and we use peachtree for the normal expected accounting/payroll chores. I have job costing setup for us to track profitability of each job we do however I have a problem when it comes to tracking direct labor costs. Since my brothers & I are all owners and have decided to be salaried employees, it seems to be a problem to record hours time tickets on time tickets and to know what hourly rate should be used for calculating actual labor cost on the jobs. Since we pay each week a fixed amount and don’t always work the same total hours for each week, it seems like our hourly wage would change from week to week. How can I use time tickets to record time and calculate actual labor costs when the employees are salaried? Thanks, tom
For my costuction clients I set up a job called "small jobs and Repairs", "VaCATION AND SICK" post the non job hours to these or similar jobs — Frederick E. Jorden http://fejcpapc.com/ Frederick E. Jorden, CPA PC (804) 320-6210 FAX (804) 320-6211
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Accounting Talk » Accounting Software » Accounting Software training
Accounting Software training
Question:
I’ve seen a lot of names thrown around for different accounting software packages. Is there some way of getting a version of these software packages for students so they can learn the software BEFORE they enter the corporate accounting environment? The one I’m most interested in is PeopleSoft, but I’d like to learn any package available. Also, what about training aids that can be used in the absence of the complete program? Thanks in advance. Scott J. White
Response:
Great Plains Software has a developed a program designed specifically for colleges and universities. The school received their award winning Dynamics accounting software as well as specially designed training materials for both instructors and students. I can not remember where it is on their web site, but go there at http://www.gps.com and do a search for the "Dean Program". Also, in my opinion PeopleSoft is probably not the best choice to train students on anyway. Although it is used by some very large companies, the total number of companies using it is relatively small. The odds of these students actually using PeopleSoft if fairly small. Alan C. Whitehouse The Resource Group Great Plains Software VAR & ISV 1400 Talbot Rd. S., Suite 301 Renton, WA 98055 (425) 277-4760 – Hide quoted text — Show quoted text – I’ve seen a lot of names thrown around for different accounting software packages. Is there some way of getting a version of these software packages for students so they can learn the software BEFORE they enter the corporate accounting environment? The one I’m most interested in is PeopleSoft, but I’d like to learn any package available. Also, what about training aids that can be used in the absence of the complete program? Thanks in advance. Scott J. White
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Accounting Talk » Financial Accounting » Need small biz software recommendation
Need small biz software recommendation
Question:
– Hide quoted text — Show quoted text – SITUATION: We’re a start-up company with the following parameters: 1. It’s product based. Initially, we’ll have about 15 SKU’s and over the next three years we expect to have 100+. 2. The product will be manufactured in the Far East and imported in containers. 3. The products will be sold mostly through distributors. Since the containers will bring in mixed product, we’ll have to be able to break down the shipment before delivery to customers. 4. There will be one West Coast warehouse initially, but we expect to ship from several locations around the country after about our second year. 5. Needless to say, we don’t have deep pockets. PROBLEM: We’re looking for packaged software to handle our needs for order entry to our supplier, inventory control, availability information, customer order entry, turnover (usage) information, and related product logistics and information. Since we will not be doing any manufacturing, we have many of the characteristics of a reseller. We’d like to start with something simple that can grow with us for at least the first 2 or 3 years. QUESTION: What packaged software is available that can also feed our billing and financial system? Thanks very much for your help!!! [Poster's comments: The person asking this question *is* quite familiar with Quickbooks Pro 5.0, though only with using for a self-employed consulting business where there is no inventory - only time billed. I mention this in case Quickbooks can be part of this solution.]
you are demanding a lot of requirements for a start-up operation. If you need a sophisticated system from the start, your best bet is to work with a local experienced accountant. many accounting software packages can handle the requirements, implementing them is another thing.
Response:
DacEasy (DOS) is great for inventory and has an Order Entry module : http://www.daceasy.com OR better yet, try Accpac for Windows Plus Series, which has everything you’re looking for and if you grow, you can grow into the more sophisticated and more expensive Accpac for Windows product : http://www.accpac.com — Regards, Karen Bastis CLARC Services, Inc. Sarasota, FL USA – Hide quoted text — Show quoted text – [I am posting this for someone else.] SITUATION: We’re a start-up company with the following parameters: PROBLEM: We’re looking for packaged software to handle our needs for order entry to our supplier, inventory control, availability information, customer order entry, turnover (usage) information, and related product logistics and information. Since we will not be doing any manufacturing, we have many of the characteristics of a reseller. We’d like to start with something simple that can grow with us for at least the first 2 or 3 years. QUESTION: What packaged software is available that can also feed our billing and financial system?
Response:
[I am posting this for someone else.] SITUATION: We’re a start-up company with the following parameters: 1. It’s product based. Initially, we’ll have about 15 SKU’s and over the next three years we expect to have 100+. 2. The product will be manufactured in the Far East and imported in containers. 3. The products will be sold mostly through distributors. Since the containers will bring in mixed product, we’ll have to be able to break down the shipment before delivery to customers. 4. There will be one West Coast warehouse initially, but we expect to ship from several locations around the country after about our second year. 5. Needless to say, we don’t have deep pockets. PROBLEM: We’re looking for packaged software to handle our needs for order entry to our supplier, inventory control, availability information, customer order entry, turnover (usage) information, and related product logistics and information. Since we will not be doing any manufacturing, we have many of the characteristics of a reseller. We’d like to start with something simple that can grow with us for at least the first 2 or 3 years. QUESTION: What packaged software is available that can also feed our billing and financial system? Thanks very much for your help!!! [Poster's comments: The person asking this question *is* quite familiar with Quickbooks Pro 5.0, though only with using for a self-employed consulting business where there is no inventory - only time billed. I mention this in case Quickbooks can be part of this solution.] "There they both stood, grown up, and yet children – children in heart – and it was summer, warm and delightful summer." – the end of "The Snow Queen" by Hans Christian Andersen
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