Cash Receipt Summary vs Revenue by GL Code Reports

[katie042]

I am reviewing the Cash Summary Report and Revenue by GL Code report weekly. The first two weeks in January 2017, the totals on both reports match. For the 3rd week in January, they differ by $2215.40. The only difference I notice is on the Cash Summary report it shows this amount in the section marked "Total Receipts paid on Deposit: These payments are from our Direct Deposit customers. The GL code used is titled Direct Deposit. Are we doing something incorrect when posting, as I am not sure why it brings the Cash summary report out of balance with the Revenue by GL report. Any help would be appreciated. Thank You

[Johnny5]

Hi,

"Deposits" (payments made against an order before it is posted) are not included in the Revenue report. The theory is a deposit is not earned revenue until the invoice including the deposit is posted.

JD

[katie042]

On the GL/or payment section, we have it labeled as Direct Deposit and GE Fleet discounts. Can someone explain how I should set up this payment type so that it falls correctly on the Revenue by GL Account Report. Also what is correct way when using "Receipts paid on Account"? These also do not seem to fall on the GL Account Report. Thank you

[PDickson]

Is there a way to find all the records on the WIP that have a payment or deposit and have not been posted?

[ricmorin]

Is there a way to find all the records on the WIP that have a payment or deposit and have not been posted?

I don't think there is a way to find ALL the records. Do you have many?

The easiest is to just open the record and look at the bottom.

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[VirginiaO]

On the GL/or payment section, we have it labeled as Direct Deposit and GE Fleet discounts. Can someone explain how I should set up this payment type so that it falls correctly on the Revenue by GL Account Report. Also what is correct way when using "Receipts paid on Account"? These also do not seem to fall on the GL Account Report. Thank you

Hi there. Is someone mixing up the payment types? (Direct deposit and a deposit as advance payment. Easy to confuse the two terms.)
If a direct deposit or fleet payment is coming in later, typically within a few days, I suggest posting that invoice on the day of the repair with a payment from "Charge". So your income will be on the correct day, as an amount receivable. Then once the payment is received, it will not show up again as revenue, but just as a payment received in your cash receipts. Does this make sense? : )

[VirginiaO]

Is there a way to find all the records on the WIP that have a payment or deposit and have not been posted?

Under Reports, Accounting, "Customers with credit on account" should help you.

[PDickson]

On the GL/or payment section, we have it labeled as Direct Deposit and GE Fleet discounts. Can someone explain how I should set up this payment type so that it falls correctly on the Revenue by GL Account Report. Also what is correct way when using "Receipts paid on Account"? These also do not seem to fall on the GL Account Report. Thank you

Hi there. Is someone mixing up the payment types? (Direct deposit and a deposit as advance payment. Easy to confuse the two terms.)
If a direct deposit or fleet payment is coming in later, typically within a few days, I suggest posting that invoice on the day of the repair with a payment from "Charge". So your income will be on the correct day, as an amount receivable. Then once the payment is received, it will not show up again as revenue, but just as a payment received in your cash receipts. Does this make sense? : )

Not ACH Electronic Direct Deposit payments. Been using a different "cc" type for those for years and treat them as ROA.

I'm talking about "pre-payment" on NON-posted invoices/repairs orders on the WIP ... We do get a lot of them, as partial payment or a Lay away plan.

We post about 150 invoices a day. Not even sure how many repair orders/ estimates each day. I try to keep track, but would like to know if there is a report or something we could run on the WIP that would show "deposit on non posted" Daily I will compare the Cash Receipts Report to the Posted Total by Invoice number to find any deposits invoices posted or new deposits on the WIP. But because of the volume there have been times when I have missed some. Just wondering if there was a quick way to see if there are any out on the WIP without scrolling thru each one.

Was interested in the Accounting Link. Anyone have any experience with that add on?


The "customer with cash only shows a customer that has credit "On Account" or credit on a posted invoice. It doesn't show any unposted invoices that had a payment posted to them.

[Silky7]

Just curious, have you looked at the Cash Receipts Deposit report? It will include open WIP items that have made deposit payments.

[Johnny5]

I think what we need to do is include in the various WIP reports the balance due for each item. I have requested this enhancement from development.

JD

[PDickson]

Thanks! Been using Mitchell for 20 years and have always struggled with prepayments!! That would be a great enhancement.

[5504SPenn]

Is there a way to find all the records on the WIP that have a payment or deposit and have not been posted?

Under Reports, Accounting, "Customers with credit on account" should help you.

I look at this report and there is nothing there. I too am trying to find a report that lists all the pre-payments on a Repair Order.

[5504SPenn]

Just curious, have you looked at the Cash Receipts Deposit report? It will include open WIP items that have made deposit payments.

The problem with the Cash Receipts Deposit Report is that it does not tell you if a payment has been made towards a Posted Invoice, or a Repair Order still in WIP.

[5504SPenn]

I think what we need to do is include in the various WIP reports the balance due for each item. I have requested this enhancement from development.

JD

On most systems I have worked with, a Pre-Payment towards a Repair Order shows up on the Accounts Receivable Aging as a credit. Mitchell does not seem to work this way. This causes a reconciliation issue when trying to balance the Accounts Receivable Aging in Mitchell with the Accounts Receivable Aging in our Accounting System.

[tmbutitta]

Just checking in to see if anyone has created a report or found a work around to see money that has been taken in, but not posted.

Deposits for WIP invoices.

We are struggling to account for this money, and as we get busier its harder to keep track of for daily book keeping.

[tmbutitta]

I saw this as I was searching the other day.. is this only for enterprise? and if so, is there a way to get that report to show up for standard users?

The Customer Deposit ledger account is used for tracking deposits made by Customer on Work Orders.

When Customer makes a Deposit for a Work Order, the Customer Deposit account is increased.

When the Deposit is released or Work Order is posted to an Invoice, the Customer Deposit account is decreased.

IMPOTANT: It's not possible to ever have this Ledger Account mapped to the Cash Drawer as it is a Liability account and the Cash Drawer is an Asset.

This system will not allow a Liability account to be mapped to an Asset account.

[ricmorin]

I saw this as I was searching the other day.. is this only for enterprise? and if so, is there a way to get that report to show up for standard users?

The Customer Deposit ledger account is used for tracking deposits made by Customer on Work Orders.

When Customer makes a Deposit for a Work Order, the Customer Deposit account is increased.

When the Deposit is released or Work Order is posted to an Invoice, the Customer Deposit account is decreased.

IMPOTANT: It's not possible to ever have this Ledger Account mapped to the Cash Drawer as it is a Liability account and the Cash Drawer is an Asset.

This system will not allow a Liability account to be mapped to an Asset account.

Enterprise is a completely different program, not an elevated version of Manager. There is no sharing of reports between them. Sorry.

[tmbutitta]

I do understand that, but i assume if there is value in that software having the report, Mitchell or bolt on should be able to develop it for those who use it/need it


How do you account for daily variance between monies received verse posted orders?

[ricmorin]

I do understand that, but i assume if there is value in that software having the report, Mitchell or bolt on should be able to develop it for those who use it/need it


How do you account for daily variance between monies received verse posted orders?

Since I have very few receivables, monies taken in ARE my sales on the accounting side. I have no need to isolate 'sales' in Manager and have that mirror exactly on the accounting side. I simply create a deposit daily from what is taken in and that becomes my 'sales' for that day. At the end of the year, I create a single entry that equals my receivables at that time and that gets recorded for federal tax purposes. We have no state taxes to pay here in NH so there is no need to track it on both sides.

[tmbutitta]

We do a lot of engines and transmissions on JUNK. So we get a deposit up front because we do not want to get stuck with the vehicle..

I am trying to account for the difference between money taken in, and posted orders.. but it sounds like you do not factor posted orders into daily sales. you only count actual money taken in..

We do keep 300 in the drawer at all time, and use the cash receipts by payment type to consolidate the drawer nightly. But It would be nice to know that the difference between posted orders and cash taken in, which should be the difference of partial payments(deposits)