Outstanding Costs vs Customer and Received Inventory

September 25, 2025 17:04

Outstanding Costs vs Customer and Received Inventory
This report module contains two different reports, though they both compare outstanding costs to another value in the system. The two reports are Outstanding Costs vs Customer Inventory and Outstanding Costs vs Received Inventory. The default setting is for Custom Inventory, so when you enter this module, the screen will appear as follows:

This report gives a total value of Labor that needs to be paid on Jobs that have been invoiced in the system. It can be a handy tool for keeping track of outstanding Labor on completed and invoiced Jobs. It will only list Jobs where Labor still needs to be paid. Along with the Job # and Customer ID, the report lists the value of the outstanding Labor. (The Inventory Value column on the report is not a working column.) To print this report for another Branch, you must switch to that Branch and then print this report. The Date fields are only enabled for the Received Inventory report option. You can print this report to paper or export to Excel.

The Received Inventory report option lists all the inventory in the system that does not have a Vendor Invoice number attached to the inventory record. In other words, the inventory has been received but no A/P Invoice has yet been entered in the system, or was entered and not tied to this inventory. It was designed for retailers wanting to know the total dollar value of their inventory for which they have not yet received an Invoice. In order for this report to be accurate, the accounting department must perform the “Review P. O. History” option for every Vendor Invoice that is posted in the system. Also, if this report is to be utilized effectively, all Beginning Inventory records will need to have a Vendor Invoice number added. If one is not known, you can type 99999 or something similar in the Vendor Invoice field of those records to denote that the inventory existed prior to going online with the BMS System. This report will allow you to enter a Beginning & Ending Inventory Receipt Date and the date range selected will appear at the top of the report. Also, the Date, Time and User ID will display on the printed report.

This should be a monthly report to back up your Financial Statements. You could go so far as to make an adjusting entry to your Inventory G/L account for the overstated value, print your Financial Statements, and then make a reversing entry to put the value back to where it was. To print this report for another Branch, you must switch to that Branch and then print this report. You can print this report to paper or export to Excel.