If the price on the invoice differs from the PO price, do we just change the price on the bill from the PO actual price?
If you change the amount on the line item, it will update the receiver. It will also update the costs of any transactions from the actual receipt date.
You should always check with Purchasing prior to changing any costs for an item that was purchased and received through a Purchase Order.
It will also update the cost on the item master record. Average costs will also be adjusted.
Timing is critical on this. You do not want to do this after financials have been posted and analysis of cost of goods sold done.
In that case, you would post the difference to Purchase Price variance account.

Seeds of Success

Seeds of Success

Five Tips for Building Better Business Relationships by sales coach Jim Cathcart

“Who is glad they know you?”

That’s why people who do business with others they know and trust.  When you offer value to another person, then they have a reason to care about staying connected with you. Cathcart offers these five tips for building better business relationships:

1. Approach each contact as the beginning of a long-term high value relationship. Expect great things over the long run, and do your part to help both of you achieve your desired outcomes.
2. Plan to be loyal to your customers whether they are loyal to you or not.  And be trustworthy, so they will want to be loyal in turn.
3. Continually ask yourself, “What else could I do for them without asking for something else?”.
4. Give them the option to occasionally “have a bad day” without becoming upset or judgmental toward them.  No one is always at their best.
5. Don’t always ask for something, occasionally just give them something or just listen to them without trying to “fix” them or sell to them.

Written by Karen Williams Karen Williams is President of Williams, Hansen & Associates, Inc., specializing in Inventory Management with certifications in both Exact Software and QuickBooks Enterprise.

Detailed Inventory Site

Question: How can I view all of the inventory transactions for a particular inventory site?

Answer:  With Advanced Inventory in Quickbooks ES, you can utilize the Inventory Reports\Inventory Stock Status by Site.

You can then find the site location and drill down on the item.  This will create an Inventory Quick Detail Report and defaults to the current month.  By changing the date range, you will be able to see all transactions of that item for that one site. 

Hint:  If you want to see who processed a transaction, go to Modify Report and check the Entered/Last Modified  and the Last modified by.  This will provide you will a detailed report by user transaction.