Dear AccountMate Clients,
Back in April of this year, we included an article on the multi-currency revaluation function in AccountMate and the specific transactions that it affects. For those of you who use AccountMate’s multi-currency function, you’ll know that there are times when Accounts Receivable must be recomputed in order to reduce any over- or under-stated values that may be present.
The current exchange rate for the Euro versus the American dollar as of this writing is one euro equals 1.2479 U.S. dollars. However, with the unstable economic climate now surrounding the universal European currency, we felt it necessary to revisit this built-in function as the need to utilize it has become more and more frequent. Just how unstable is the European economic situation? The New York Times maintains a daily update on the crisis and a good summary on the situation as a whole that can be read at this link.
Please refer to the following link for a better understanding of the function – it is a must read for those of you with the Accounts Receivable module that have activated the multi-currency function.
Regards,
Kevin E. Stroud
NexLAN, LLC
ClickBase: AccountMate Business Intelligence (BI)
AccountMate Business Intelligence (BI) is a highly integrated module that provides real time, customizable Business Intelligence functionality.
Business Intelligence has been designed for the casual user with an easy-to-use interface and facilitates ad hoc queries to provide decision information in real-time. This integrated data can be reported in any desired format or through a web portal. AccountMate Business Intelligence fully protects the security of the data, enabling different users different levels of access.
For more information, contact NexLAN at 877.2NexLAN or nexlan@nexlan.com.
Service Pack 1 for AM8.2 for SQL/Express Now Available
In the past several months, AccountMate has been releasing improvements to correct some issues that were reported for AM 8.2. In order to minimize the time neccessary to apply multiple improvements as seperate fixes and provide a simpler way to install the patches, AccountMate has released AccountMate 8.2 for SQL/Express (Service Pack 1).
If you are interested in this download and are current on your maintenance plan, you can contact NexLAN at 877.2NexLAN or nexlan@nexlan.com.
AccountMate Core Product Training
On July 18th – 20th (Wednesday through Friday) there will be an AccountMate 8 for SQL/Express classroom training tailored specifically towards how you, AccountMate users, would use our software. This training is offered in Petaluma, California at the AccountMate headquarters.
This 3-day course covers the installation and implementation of AccountMate 8 and discusses the key features in each of the core financial modules: General Ledger, Accounts Receivable, Sales Order, Upsell Management, Accounts Payable, Purchase Order, Bank Reconciliation plus basic Inventory Control features.
Prerequisites: Attendees should have a good understanding of basic accounting concepts and basic work flows in an accounting system.
For more information, click here.
If you are interested in registering or receiving more information, please contact us at 877.2NexLAN or nexlan@nexlan.com
Tech Notes: How to Record Consignment Transactions in AccountMate
Consignment is an arrangement under which the supplier (i.e., consignor) delivers to a customer (i.e., consignee) goods to be resold or consumed. The consignee purchases and pays for the goods only when these are resold or consumed, at which time title of the goods passes to the consignee. Until the goods are sold, these must be considered as part of the consignor’s inventory and must be properly reported in the financial statements.
This week we revisit a Technical Note that introduces means to properly handle consignment transactions in AccountMate. Click on the article’s title below for a downloadable PDF version.
Article 1160: How to Record Consignment Transactions in AccountMate
Technical Tips
Versions: AM8 for SQL and Express
AM7 for SQL and Express
AM6.5 for LAN
Module: AP
Q: I posted a handwritten check for an AP invoice and realized that the check amount was incorrect. How do I amend the handwritten check?
A: AccountMate does not allow you to amend a handwritten check. You must void the check using the Void Check function in the Maintenance menu and post another handwritten check.
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Versions: AM8 for SQL and Express
AM7 for SQL and Express
AM6.5 for LAN
Module: AR
Q: I am attempting to create an AR invoice for an inventory item for the first time; however, the item record does not show up in the item search window. I have verified that the Used in Invoice/Sales Order checkbox in the Inventory Maintenance ► Information tab is marked. What did I miss?
A: If the Inventory Control module is activated, multiple warehouses can be assigned to an inventory item. When you create an AR invoice for an item, ensure that the warehouse code you enter in the Create Invoice ► Information tab is one of the warehouse codes that is set up for the item.
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Versions: AM8 for SQL and Express
AM7 for SQL and Express
Module: GL
Q: I tried to drill down on the General Ledger Listing report amounts to view the journal entries from the GL module; however, nothing happens. These journal entries were posted to GL in the current fiscal year. When I drill down on the amounts from the other modules, the journal entries are displayed. I have verified that I have access rights to the General Ledger Listing report. What did I miss?
A: When you drill down on the General Ledger Listing report amounts from the GL module, the Posted Journal Entries report will display. You must have access rights to the Posted Journal Entries report to view the journal entries from the GL module.
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