TRANSFERS FROM ONE LOCATION TO ANOTHER (FOR SEPARATE ENTITIES)
In Location 1:
1. Setup a "Transfer Customer" master in Customers & Statements.
- tax jurisidiction must be "no taxes"
- price level must be "7"
- cost +% must be "0" if just transferring at cost
2. Enter a "6" Transfer type sales order for the items being transferred. Print a copy of the transfer invoice to give to Location 2 as a packing slip.
This will produce the G/L entry: DR. Inventory Location 2
CR. Inventory Location 1
3. In Direct A/R, enter an invoice:
- use the same transfer invoice number
- calculate the GST amount on the invoice
- distribute the invoice as follows: CR. Inventory Location 2 (the material amount as on the transfer invoice)
CR. GST Payable (the amount of GST calculated)
the system will produce the entry DR. Accounts Receivable
4. When Location 2 pays the invoice, then enter the cash receipt as normal.
In Location 2:
1. Setup a "Transfer Vendor" master in Accounts Payable.
- tax jurisdiction can be "no taxes" or "GST only"
2. Enter an invoice in A/P Purchases Entry for the amount of the transfer invoice plus the GST calculated.
- distribute the invoice as follows: DR. Inventory Location 2 (the material amount as on the transfer invoice)
DR. GST Paid (the amount of the GST calculated)
the system will produce the entry CR. Accounts Payable
3. Pay the invoice as normal, producing a cheque to Location 1.
1. Setup a "Transfer Customer" master in Customers & Statements.
- tax jurisidiction must be "no taxes"
- price level must be "7"
- cost +% must be "0" if just transferring at cost
2. Enter a "6" Transfer type sales order for the items being transferred. Print a copy of the transfer invoice to give to Location 2 as a packing slip.
This will produce the G/L entry: DR. Inventory Location 2
CR. Inventory Location 1
3. In Direct A/R, enter an invoice:
- use the same transfer invoice number
- calculate the GST amount on the invoice
- distribute the invoice as follows: CR. Inventory Location 2 (the material amount as on the transfer invoice)
CR. GST Payable (the amount of GST calculated)
the system will produce the entry DR. Accounts Receivable
4. When Location 2 pays the invoice, then enter the cash receipt as normal.
In Location 2:
1. Setup a "Transfer Vendor" master in Accounts Payable.
- tax jurisdiction can be "no taxes" or "GST only"
2. Enter an invoice in A/P Purchases Entry for the amount of the transfer invoice plus the GST calculated.
- distribute the invoice as follows: DR. Inventory Location 2 (the material amount as on the transfer invoice)
DR. GST Paid (the amount of the GST calculated)
the system will produce the entry CR. Accounts Payable
3. Pay the invoice as normal, producing a cheque to Location 1.