Hi Maria,

The original item may have been entered with a negative quantity—which is perfectly legitimate. It simply means that the item was a return. This is a convenient way to track returns for an account where you have regular orders and returns.

The other alternative is that another receipt has paid for more of that item than was previously unpaid—creating negative unapplied funds. (Yuck!) In that case, you’ll probably want to find the overpayment. The “Item Receipts” report in the Receivables Reports menu will help.

Sample Item Receipts Report.

In either case, you will add to your available funds by paying for the negative quantity. The amount received will be negative as well. Royalties will of course be assessed based on the negative quantity and amount received.

 

Ron

 

From: New City Press
Sent: Thursday, December 01, 2011 5:42 PM
To: 'Ron Lawrence'
Cc: 'NCP Accounting'
Subject: Question on receipts screen

 

Hi Ron,

We hope that things are going well for you. Something does not add up for us on the Receipts screen. (see picture). Can you please let us know what causes an Unpaid Qty to show a negative value? Thanks and hope to hear from you soon.

Regards,

Maria,
Accounting Office
New City Press