Batch Types in Costar

• OW – Order Writer Batch
  
• RC – Accrued Batch
  
• JE – Journal Entry
  
• CH – Cheque Run
  
• MC – Manual Cheque
  
• TC – Tax Clearing Journal
  
• PI – Payable Invoice Batch
  

OW - Order Writer Batch

An OWDaily batch contains the Order Entry documents (Repair Orders/Invoices, Supplier Returns, Credit Notes, Paid Outs, and Payments) that have been processed since the last Day End was run. When Day End is run the batch is finalised, a permanent batch number assigned (e.g. OW100308) and is automatically posted. If there is the need to manually post, this can be done fromDay End>> Day End Accounting Batch.

Invoice/Repair Order for an Accounts Receivable Customer

Db – Bank GL/Eftpos/ Accounts Receivable

Cr – Sales

Db – COS

Cr – Inventory

Cr – GST Payable

Deposits on Invoice/Repair Order

When the DEP Special Item is used on an Invoice/Repair Order and the document is sold for the first time, the system just records the fact that a deposit has been taken and how it was tendered.

Db – Bank GL/Eftpos

Cr – Accounts Receivable, Deposit sub-ledger

When Invoice/Repair Order is sold for the final time (i.e. another DEP is not put on invoice)

Db – Bank GL/Eftpos/ Accounts Receivable

Cr – Sales

Db – COS

Cr - Inventory

Cr – GST Payable

Db – Accounts Receivable, Deposit sub-ledger

Trade In on Invoice/Repair Order

When you process a negative Qty on an Invoice/Repair Order you are prompted with the question “Is this a purchase/trade-in?”

If answered No the system treats the trade in as a negative sale and will affect the Sales Analysis System:

Db – Bank GL/Eftpos/ Accounts Receivable 308.00

Cr – Sales -300.00

Db – COS 71.00 (Items sold)

Cr – Inventory -71.00 (Items sold)

Cr – Sales 20.00 (Traded in item)

Db – COS -20.00 (Traded in item)

Cr – Inventory 20.00 (Traded in item)

Cr – GST Payable - 28.00 (net of GST from sale)

If answered Yes the system treats the trade in as a purchase and is listed separately on the Sales Analysis System:

Db – Bank GL/Eftpos/ Accounts Receivable 308.00

Cr – Sales -300.00 (Just items sold)

Db – COS 71.00 (Just items sold)

Cr – Inventory -71.00 (Just items sold)

Db – Inventory 20.00 (Traded in item)

Cr – GST Payable - 28.00 (net of GST from sale)

Warranty (when the Warranty tick box is used)

Db – Bank GL/Eftpos/ Accounts Receivable 15.45 (% remaining off sell price)

Cr – Sales -14.05

Db – COS Inventory 69.46

Cr – Inventory -69.46

Db –Accrued Payable, appropriate Subledger 59.04 (% remaining of bucket price)

Cr – COS Inventory -59.04

Cr – GST Payable - 1.40

Credit Note

Cr – Bank GL/Eftpos/ Accounts Receivable -550.00

Db – Sales 500.00

Cr – COS -280.00 (Supplier Cost)

Db – Inventory 280.00 (Supplier Cost)

Db – GST Payable 50.00

Payment

Db – Bank GL

Cr – Accounts Receivable, appropriate Subledger (Customer)

Supplier Return

With credit note information entered at the bottom of the Supplier Return Screen

Cr – Inventory

Db – Accounts Payables, appropriate Subledger

Cr – GST Claimable (if applicable)

Without credit note information entered at the bottom of the Supplier Return Screen

Cr – Inventory

Db – Accrued Payables, appropriate Subledger

Paidout

Cr – Bank GL

Db – General Ledger Line Paidout is coded to

Db – GST Payable (if applicable)

RC - Accrued Payable Batch

Purchase Orders receipted off Delivery Dockets (i.e. without invoice box ticked). All processing is captured in an ‘RCDaily’ batch. The Day End finalises this batch and assigns it a permanent batch number, eg RC100485, to be posted from Suppliers, Accrued Payable Batches. When posted it updates the appropriate Accrued Payable Subledger.

Cr – Accrued Payables, Appropriate Subledger

Db – Inventory

PI - Payables Invoice Batch

Purchase Orders

Purchase Orders receipted off Invoice (i.e. with invoice box ticked). All processing is captured in a ‘PIDaily’ batch. The Day End finalises this batch and assigns it a permanent batch number, e.g. PI100278, to be posted from Suppliers, A/P Invoice Entry. When posted it updates the appropriate A/P Subledger.

Cr – Accounts Payable, Appropriate Subledger

Db – Inventory

Db – GST Claimable (if applicable)

AP Invoice Entry

Balances in AP Inquiry are shown in their true nature so a Credit balance on AP account means that the supplier is owed money.

Invoice

Cr – Accounts Payable, Appropriate Subledger

Db – GL code batch was distributed to

Db – GST Claimable (if applicable)

Credit Note

Db – Accounts Payable, Appropriate Subledger

Cr – GL code batch was distributed to

Cr – GST Claimable (if applicable)

CH – Cheque

Payments processed via Suppliers, A/P Cheque Prep

Cr – Bank GL specified

Db – Accounts Payable, Appropriate Subledger

MC - Manual Cheque

Payments to third parties entered via Suppliers, Manual Cheques.

Cr – Bank GL specified

Db – GL code batch was distributed to

Db – GST Claimable (if applicable)

 

JE - Journal Entries

Debits and Credits the GLs that are specified. If any tax codes specified, the system assumes that it is for GST Claimable. If coding an income/revenue change to GST Payable.

TC – Tax Clearing Journal

When the GST Reports are prepared the system processes an automatic Tax Clearing Journal to clear the value on the GST Payable and GST Claimable GLs and put the net of these two to the ATO Supplier.

Quantity On Hand/Cost Adjustment

Making a Quantity Adjustment or Cost Adjustment in Item Maintenance automatically creates GL entries in the OWDaily batch.

If QTY/Cost increases

Db – Inventory

Cr – Stock Variances

If QTY/Cost decreases

Cr – Inventory

Db – Stock Variances

 

Stock Count

When a Stock Count is completed a General Ledger Journal Entry is automatically processed for each Product Type included in the Stock Count that has adjustments.

If stock value increases

Db – Inventory

Cr – Stock Variances Db – Stock Variances

If stock value decreases

Cr – Inventory

Db – Stock Variances

 

Negative Quantity Deletion Journal

Running of the Inventory Valuation Summary report or posting a Stock Count runs an automatic Negative Bucket Purge Function to attempt to resolve negative quantities (see the on-line help file for more information) and automatically processes a journal to keep the Inventory GL in balance with the Inventory Valuation.

To see what inventory was affected by the Negative Bucket Purge Function, run the Negative Quantity Deletion Report from Inventory Reports.

If the Grand Total of the Negative Quantity Deletion Report is a negative value then the GL Distributions of the General Ledger Journal Entry will be as follows:

Db - value to the Inventory GL

Cr - value to the COS - Inventory GL

If the Grand Total of the Negative Quantity Deletion Report is a positive value then the GL Distributions of the General Ledger Journal Entry will be as follows:

Cr - value to the Inventory GL

Db - value to the COS - Inventory GL

 

Bank Reconciliation

Reconciling the Bank Statement doesn’t make any changes to the General Ledger, it just reconciles off transactions that have been previously entered.

Journal Entries can be processed directly from the Bank Reconciliation screen and have the same effect as if the journal was done from Journal Entries in the Financials menu.

Put fund into the bank / Deposits – processed as Db to Bank Account General Ledger

Take funds out of the bank / Withdrawals – processed as Cr to Bank Account General Ledger