For multi-store environments where you want to "bill" your other store for merchandise items you transfer to another store, you may now do so. The Export Revenue function (A-2 from the Main Menu) has an additional checkbox for Transfers.
While doing a Merchandise Transfer (5-7 from the Main Menu), you will notice a new checkbox labeled Bill Transfer Store for Cost. Check this box if you wish to "bill" the store you are transferring to for the cost of the item(s).
In each Company File record (3-2 from the Main Menu) you will need to select a customer that will be invoiced when a transfer item is received. You may need to set up customers (6-2 from the Main Menu) for each of your companies.
When you receive inventory, your inventory account will be debited. The offsetting credit will need to be established by setting up a new posting code (2-C from the Main Menu). The "main account" field in this new posting code will be the only field that is relevant to this process.
In the Store Manager File (C-4 from the Main Menu), you will need to enter this posting code in the new field on the posting code tab labeled Transfer Posting Code.
For the store transferring the item:
•You will see a credit to the inventory account(s) reflecting the cost of the item(s) that you transferred out of the store.
•You will see a debit to accounts receivable reflecting the increase in A/R because you invoiced a "customer", which happens to be the customer set up in the company record for the receiving store.
For the store receiving the items:
•You will see a debit to inventory accounts reflecting the cost(s) of the item(s) that you received.
•You will see a credit to the main account associated with the posting code that you put in the store manager file for transfers.
In addition to being able to now track these costs by customer in accounts receivable, you may run the Merchandise Transfer Report (Reports from the Main Menu). There is a new option on this report to show Invoiced Only transfers, which would be the transfers that were billed and can be exported to your third party accounting software.
