ProfitMaster Transaction Flow

Objective

  • Get an interesting look at the flow within ProfitMaster by following the life cycle of a product from initial order to the final flow to the financial statement

Details

  • Understand the life cycle of a product
  • Learn how the end-of-day and end-of-month ZBQ that contains the journals create journal entries for posting to the G/L
  • Get a clear understanding of product quantity adjustments, average cost adjustments, cycle and physical inventory counts and how they affect the general ledger and financial statements
  • Discover A/R: characteristics of Balance Forward and Open Item accounts, particularly how payments are distributed/applied
  • Find out how to use RUX codes and the RUT function to create A/R adjustments
  • Learn the A/P invoice cycle from the recognition of vendor invoices on receipts to entering of the invoice in A/P through to the vendor payments
  • See how to clear Uninvoiced Receipts properly by recording vendor invoice details in PUI
  • Discussion on how and when vendor credits and return to vendor transactions that have been entered via BUV impact the inventory journal
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