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Accounting question about GOG
Posted:
Wed Sep 02, 2015 3:46 pmby LOWAIRD1964
ok so my accounting dept shows $500 and some odd dollars in inventory for our gas, oil & grease. I dipped the tank and did my calculations and came up with over $4000 of oil in inventory. What can we be doing wrong?
Re: Accounting question about GOG
Posted:
Wed Sep 02, 2015 4:20 pmby possum
Accounting (or you) maybe posted a few invoices to 242 instead of 244?
Re: Accounting question about GOG
Posted:
Wed Sep 02, 2015 5:46 pmby Richard
Make sure your marking your GM invoices correctly, especially on boxed goods (cases of Mobil 1, ect). Also make sure all your oil products are in the right acct to draw from 244 inventory, NOT 242.
Re: Accounting question about GOG
Posted:
Wed Sep 02, 2015 5:54 pmby LOWAIRD1964
possum wrote:Accounting (or you) maybe posted a few invoices to 242 instead of 244?
Ok thanx I will have to see, any easy way of checking on the accounting dept to see if they put it in the correct account?
Re: Accounting question about GOG
Posted:
Wed Sep 02, 2015 5:56 pmby LOWAIRD1964
Richard wrote:Make sure your marking your GM invoices correctly, especially on boxed goods (cases of Mobil 1, ect). Also make sure all your oil products are in the right acct to draw from 244 inventory, NOT 242.
The only thing I am currently marking for 244 is our dexos bulk oil when it comes in.
Should I start marking other checmicals?? Which all do you mark trans fluid etc....???
Re: Accounting question about GOG
Posted:
Wed Sep 02, 2015 6:22 pmby possum
It all depends on how you code the invoices. At my store the bottles of anything are in 242 and sold as a part number. Any bulk fluids ie ATF, 15w40, dexos or whatever we have pumping into the shop from a tank is posted to 244. We still bill out a part number, but the source I keep those numbers in pulls from 244 and sells to 491
Re: Accounting question about GOG
Posted:
Wed Sep 02, 2015 6:40 pmby camaroman
You have to watch your GM Invoices. They send invoices that combine items that you may have in your oil inventory or in your parts and depending on who looks at them they might not catch the oil items and put them in the right account.
Re: Accounting question about GOG
Posted:
Wed Sep 02, 2015 7:54 pmby Zep33
right, all your oil comes in on the invoices marked 242/244 in the account field and underneath the oil in the descriptions says something like "...at your discretion" and again lists both 242/244/
what I do is cross out the one in the accounting field I don't want them posted to and circle the one under the description I do want it posted to (that last part is probably overkill though since I doubt they look at the descriptions in the office)