How to Apply credit memo and deposits to invoices in Open Systems Accounting Software

By Larry Teren

Whether you review an AR Aged Trial Balance or your customer reviews the printed statement you sent them, it makes sense to make sure that payments and credit memos are applied appropriately to invoices. Why? You want the invoices to be aged properly.

Notice in the example below that there are three payment records that do not match an invoice number. We can use the SPLIT/REAPPLY feature in the HOLD/RELEASES routine to reassign part of any of these three payments to any of the invoices. Continue reading “How to Apply credit memo and deposits to invoices in Open Systems Accounting Software”

How to Close out older Purchase Order in OSAS

By Larry Teren

Open System Accounting System (OSAS) Purchase Order module handles the purging of open orders differently than the Sales Order module.

In the Sales Order module, a line item in an open order that is verified and invoiced gets erased once it is posted. In other words, if a five line item order has three lines invoiced and the other two back-ordered, once posted only the remaining two are left in the order. If the entire order is invoiced and then posted, the order disappears out of the open order file. Continue reading “How to Close out older Purchase Order in OSAS”

How OSAS Calculates Average Cost

By Larry Teren

Open Systems Accounting Software (OSAS) calculates average cost in the following formula:
(previous on-hand x previous average cost) + (new quantity x unit cost)
divided by total new quantity Continue reading “How OSAS Calculates Average Cost”