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Main Time Information
Color Code: Pink
Assigned To: Brandon Moore
Created By: Cory Warden
Created Date/Time: 8/9/2019 12:56 pm
 
Action Status: Completed
Show On The Web: Yes - (public)
Priority: 0
Finished/Done: Yes - 2/26/2021 11:08 am
Finished/Done By: Cory Warden
Budgeted/Estimated Value: 3,000.00  
Actual/Real Value: 1,000.00   [donate]
Invoice/Quote Status: Blank (n/a)
General Amount: $0.00
 
Time Id: 1477
Template/Type: Community Funded Projects
Title/Caption: Inventory in Transit (assets) - transitional invoices and PO's
Start Date: 3/7/2019
End Date: 3/7/2019
Total Time: 0.00 Minutes
Target/Due Date: 8/9/2019
Main Status: Active
Sorry, no photos available for this element of time.

Uploaded Media/Content & Other Files (3)
Media Name   File Type Date Description
transitional_invoices_balance_sheet.mp4   Video 2/4/2020 This was a small walk through video of the transitional invoice stuff and how it gets booked. 22 minutes.
current_qti_invoice_process_balance_sheet.txt   Doc/Text 2/4/2020 Brainstorming document on QTI invoices and how the balance sheet works. Notes from Brandon.
transition_invoice_help.gif   Image/GIF 9/24/2019 This is an image that helps explain the transitional date range and how that works on normal invoices and transitonal invoices. This is just for reference.


Notes:

2/26/21: This has been resolved with the updates to the transitional invoice.
4/27/2020: Brandon is spending a couple hours every week or every other week on this.

2/3/20:Brandon and Steve need to take a look at this and schedule time together. They booked time on Tuesday 2/4/20 work on this.

1/23/20: Client is having trouble balancing due to end date on transitional invoices. Steve asked Cory to push to priority 0 and speak with Brandon at next meeting (2/3/20)


The variance in the BS is described through the COGS values (Inventory) of these three invoices.  If you convert these to Customer Invoices, then the Inventory reduction is properly reflected.  If you don't, then the Inventory is not reduced and generates an out of balance.

 
Can you please assist with why these invoices are different?  It is something we have seen throughout the past and are now raising due to the issues it is creating.
 
Also, there is a constant out of balance due to a duplicate Transition Inventory line item in the BS calculation.  This has been ongoing and I don't think anything is happening.  It is a constant adjustment we have to make to true up our balance sheet.Brandon has started working on this. Deeper than we thought. Only in backward direction and only when complete.

Eric came in on 9/24/19 and had some questions about the transitional invoices. We went over the existing code, database tables, and process. There are some things here that could be sped up and automated. He also has a need to be able to use those transitional invoices from ecommerce (orders with no money collected). We also need to be able to flip the transition period for a single day. Currently, the transition period for a Q.T.I (between a quote, a transition invoice, and a real invoice) value has to be a single day. We may want to speed that up and allow for things to be in a transitional period for just a single day or even add a time element to the mix. For example: The transitional invoice was created at 3:05 pm and then the person came and picked it up at 4:15 pm on the same day. Those time options might be nice.
As a side note, this project does have some reports and logic that ties clear out to the balance sheet level. We need to be aware of that.

Additional Comments/Notes - Subs (1)
Title/Caption Date Time Done By Comment/Note
Notes 8/9/2019 3:28 pm Cory Warden

See an email dated 3/1/19 from Steve and Scott Jolley - titled Transition Invoices & Balance Sheet Reconciliation