Click to view/hide picture.Use this screen if you have posted an invoice or a manual check with conversion factor or quantity error(s). When you become aware that a clerical error has been made, this screen lets you hunt down the accounting errors that may have resulted from the original error.
Note: Running the Voucher History report (Reports > Accounts Payable > Voucher History) with the "Show Voucher Details" option checked and "Show Inventory Price" selected, should allow you to identify mistaken conversion factors and/or quantities.
Of course, you should also go to the Restaurant Inventory Items screen or Prep Items screen and correct the erroneous conversion factor or quantity.
Example
Say you have been setting up a new item in the Restaurant Inventory Items
screen called SAM ADAMS BEER. You set it up with an inventory unit of
Bottle and a container of CS.
Unfortunately, in the "Inv Units per Container" field, you mistakenly
entered 12 rather than 24, the correct size of the container for this
item.
Typically, with a clerical error such as this, you may not know about it
until it has caused a problem. Compeat cannot warn you of the error because
it has no way of knowing that what you typed was wrong.
Following this example, say you enter an invoice for the item. You correctly
choose the purchase unit of CS=24 Bottle for your SAM ADAMS BEER, and
correctly enter the purchase price of $18 per unit. Then you post the
invoice.
However, it is only after posting the invoice that you notice on the Valuation Counts screen that SAM ADAMS
BEER is listed as $1.50 Cost/Inv. Unit when it should be $0.75.
What happened was that the erroneous conversion factor was saved with the
posted invoice. Using Adjust Posted Vouchers, you can go back to that
posted invoice and change only
the conversion factor from 12 to 24. That will straighten out the accounting,
and inventory counts will show a $0.75 Cost per Inventory Unit.
Click to view/hide picture.
Use the following filters to get the desired record; only the Item # is required:
Item #/Description Select the item number of the item that needs to be corrected. This field is required.
Entity # Select the entity that entered the voucher you want to retrieve, or leave blank to include all.
Date Range Select a range of dates to limit the retrieved records to a specific date range of apply dates.
Voucher Type Select either Invoices or Manual Checks.
Display Type Select either Quantities or Conversions to display in the detail area. You can also change this after the initial list has been generated.
When you have the filter options set, click the Get Records button to retrieve records that match the filtering parameters.
You can search and further filter the records in this area, but you can only modify amounts in the Qty column, if the Display Type is Quantities, or amounts in the Base Units per Pur Unit column, if the Display Type is Conversions.
The result is that the reports available from the Valuation Counts screen (Pre-Post Report and Valuation Report) are updated as you would expect: if using the Last Invoice method, and if the changed invoice is the last one, you will see the changes there. If using the Weighted Average method, the weighted average will change to reflect the correction of the erroneous invoice. Finally, if using the FIFO method, check the reports, and if any additional adjustments need to be made, you can do so using the Maintain FIFO Table screen.
Note: When you perform a Valuation Count and post an inventory, and then analyze it on the Inventory Count Variance report, the FIFO method will use a weighted average of what is in the FIFO table for each item. These are the only times the FIFO principle— using the oldest item cost— is abridged.
A secondary result is that the Menu Engineering, Menu Item Theoretical Cost, and Inventory Theoretical Cost reports are affected by your changes.
Important: Don't forget to correct the erroneous conversion factor on the Restaurant Inventory Items or Prep Items screen.
