Virtual Coffee Break - Chat

Jessica Grant56 said:Are you ladies actually pulling my leg here?? Because I am honestly struggling so much over here—everything feels like such a massive headache right now...

Kimberly Harris6 said:I hope you don't think I'm picking on you. My comment wasn't even directed at this specific thread—I wasn't following this exact debate, I was just making a general observation about everything else going on.

Jessica Grant56 said:Alright, just a quick question here: what’s the counterparty for purchase price 710xxx?? Where can I toss a single cent so I can finally close out this account with a zero balance?

Richard Howard55;43196677 said:The suspense account should just be closed out along with Class 7 and left alone—there's really no point in moving it over to extraordinary expenses.
Let's try drafting an internal memo now. 🙂 (If we run into any snags, let's step away from this virtual coffee break so everyone can actually catch their breath and enjoy a real cup of coffee—or maybe a drink, if they're feeling like it).
- QUOTE]

I'm going to skip the second part of your reply since I already answered you—basically, the solution is just to open more payment locations within the same space!! Crystal clear, thanks.

I’m not so sure about the whole "internal memo" idea... Honestly, Lili started this thread as a way to escape all those other tedious topics, and look who showed up: we’ve all known each other on this forum for years, and we're all pretty "normal" folks here!! That’s why I’ve loved writing in this thread—I know nobody is going to jump down my throat or start arguing about whether the Earth is flat (while I'm busy talking taxes!). We cover everything from the bottom of the barrel to the stuff that's actually relevant or things people are currently confused about... I love this topic (it's my favorite!), but Lili is the boss, so whatever she says goes. And I won't go without saying how much I appreciate all the help I've received here!!

But let's get back to basics: that annoying suspense account does NOT close when Class 7 closes!! Actually, that suspense balance carries over into 2013, and my goal is to leave that account in the past—meaning I want it at ZERO—so that's why I have to close it. If I interpreted the advice correctly, it said to move it to extraordinary expenses... Well, there you go, all my big problems are solved.

Just one more thing with depreciation and I'll finally be done with 2012. I have some service revenue coming in, which could be nice (I'm still figuring things out, clearly!!), but the retail side... it's dead silent. It's either in the red or, at best, barely broke even after paying one tiny salary (since I'm doing the bookkeeping for free, of course...). And then there's that extra tax on profits—that's not just quiet, that's a total rip-off. It's like something straight out of the dark ages. They're just bleeding us dry! It kills me—just skinning us alive, skinning, skinning... how long do they think they can keep this up?!?

Patrick Peterson49 said:Hey, did you ever get an answer on that bolded part???
They didn't have any info at the NPR seminar today about when that new form is coming either, though word is it might even be retroactive... 🤣

The tip about how to code those non-cash pay invoices was actually pretty smart though...
I was thinking about setting up a separate cash drawer or a different business unit just so it doesn't get all tangled up with my other accounts...

Jessica Grant56;43196819 said:

Richard Howard55 said:The balance will settle once you close out class 7, so just leave it be; there’s really no point moving it to extraordinary expenses.

Let’s draft an internal memo now. 🙂 (If things get confusing, we can hop off this virtual coffee break so people can actually breathe and grab a real coffee—or maybe a drink, if they feel like it).

Oracle is one software; Square is another. They "talk" to each other, sure, but they are separate programs, unlike modules you simply plug into Oracle.
In other words, everything is Oracle except for the Square system. That’s the main distinction being asked at the start: are you one or the other?
Moving on:
- If you have a Square system and run all payments through it—whether it's goods or services—that counts as one payment device, since the invoice numbers follow a continuous sequence.
However, if you process goods through Square, but use the Retail II module for specific tasks like generating a cash receipt, then that Cash Receipt Document becomes a second payment device (it's easiest if both share the same business location ID).
If you're also issuing R-Bills from Retail II, that makes it a third payment device within the same location.
Now, if you sell something via the Salesforce module using an Invoice Document, and later just transfer enough stock from retail so your inventory (the Roban module) hits zero, then that Invoice Document is a fourth payment device.
If you have another warehouse (in the Roban module) with its own inflows and outflows (like an Invoice or a Delivery Note), then that Invoice is a fifth payment device. It can still carry the same location ID if it's physically in the same spot; if it's at a different site, it gets a location ID of two, but the device number stays five, because Oracle won't allow duplicate payment device numbers even for separate locations.
If you issue a credit approval to a customer (from the Salesforce module), that's a sixth payment device, and so on, etc...

Once you've opened all those Documents as payment devices (the ones you actually use, obviously), the software will automatically generate the invoice sequence decision starting from 01/01/2013.

The only thing that matters is that before you create that decision, you need to go into every Document you've designated as a payment device and fill out the F10 parameters.

Alright, let's hear your take, but not here. 🙂

Honestly, this whole thread has been worth my time—mostly because it shows how much little things can stress people out when they don't quite grasp the technical side of things... So, thank you for the reply, and thanks for all the answers, too. I really appreciate you taking the time to educate someone who clearly didn't know any better. It makes sense now—once we close out the seventh category, everything should fall into place—but still... I wish you'd given me a heads-up earlier, though I get it now.

Richard Howard55 said:Man, I need a double ☕☕ coffee right about now. We earned it!
(Cleaned up the books, filed the internal memo 🙂 ) 🙂 🙂

🙂 🙂

Richard Howard55 said:The answer is: if you’re adding a fringe benefit calculation to the salary—something that applies to that specific month and repeats consistently every single month throughout the year (like a 1% imputed income for a company car)—then sure, it can all go on one list.
But if it's just some random fringe benefit popping up out of nowhere, once now and then whenever... I guess that can't go on the same list.

Richard Howard55 said:The IP form needs to be on physical media (CD, USB, floppy, whatever—don't go thinking you can just send it over the internet) and
the ID-1 form (Honorarium module) should also be on a physical drive.

Jessica Grant56 said:Also, could you tell me—just out of curiosity—what do they call that ID-1 thing over at Silicon Valley? There aren't any extra bonuses there, just standard salaries and sick leave reimbursement.

Yeah, trying to do this via the internet is a bit of a headache; those guys haven't even properly entered the 20th century yet. Long live the steam engine.

Richard Howard55 said:If you've only got standard salaries and paid sick leave, the Payroll module covers everything. Your IP info will be on the media you submit electronically to the FBI.

The SSN form is located within the Honorarium module, where all types of income related to secondary earnings and capital gains are calculated. That's also where owner distributions are handled—which is interesting this year because of the $4000 tax-free threshold used to claim refunds via an annual income tax return.

That SSN form basically "fills itself out" by pulling data from existing calculations, provided they've been paid, and can then be submitted to the FBI electronically.
If you had taxable distributions to pay out, you'd need the SSN form; otherwise, you don't.

Since word is this might be the last year we have to file these specific forms with the FBI (maybe next year too), it probably doesn't matter much how we get them in this year.

Raymond Martinez10 said:If you can't find it on the Silicon Valley site, just head over to the FBI's e-business portal—they have an XLS form there that you'll need to convert into an XML file. Burn it to a disc, attach the cover sheet, and hand it all in to the FBI 😉