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Adilas.biz Developer's Notebook Report - 11/1/2007 to 11/30/2007 - (32)
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Time Id | Color | Title/Caption | Start Date | Notes | |
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AU 3287 |
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Daily Tasks | 11/1/2007 |
• Visiting MSAI offices. Stopped by to see some associates in the accounting office. Rode my bike into town. • Small changes to customer searches and receipt searches. Posted files online and tested. • Worked on check request system. • Went into town to meet with Steve about check request and payables. Came up with a couple of cool ideas and how we might be able to flip payables around backwards. 10 miles. |
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AU 3288 |
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Daily Tasks | 11/2/2007 |
• Went into MSAI for a meeting with the accounting ladies for income statements. • Also had some brainstorming meetings with Steve talking about payables and receivables. 10 miles. |
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AU 3310 |
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Daily Ideas | 11/2/2007 |
Income $: (Please see sketches in photo gallery) - Revenue - Invoice: o Cust info o Stock # o Parts # o Line items - Total $ - Total pmts $ - Payments o Money types o Cash, check, CC, etc. Outgoing $: (Please see sketches in photo gallery) - Receipt: o Payee info o Requests o PO o Inventory - Total $ - Total pmts $ - We owe payments: o EFT o Checks o Pmts Long term invoices / long term receipts Short term invoices / short term receipts |
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AU 3289 |
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Daily Tasks | 11/5/2007 | • Research on dedicated services and hosting plans. | |
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AU 3290 |
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Daily Tasks | 11/6/2007 | • Dedicated server price quotes and online research on accounting basics. | |
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AU 3311 |
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Daily Ideas | 11/6/2007 |
Accounting: - Assets (own) - Liabilities (owe) - Equity (net worth) - Accumulated revenue ($ in) + expenses ($ out) - Goal is to sum to 0 Cash Accounting: (Please see sketches in photo gallery) - Assets o Cash - Liabilities - Equity o Paid in capital o Earnings - Revenue o Invoice - Expenses o Receipt - Net Earnings 1.1 Cash went up 1.2 Cash went up 1.3 Cash went down 1.4 Added net into earnings 1. Money started here – paid in 2. We sold something 3. We bought something 4. Net of revenue – expenses Accrual Accounting: - Assets o Cash o A/R - Liabilities o A/P - Equity o Paid in capital o Earnings - Revenue o Invoices - Expenses o Receipts - Net earnings 1. Paid in starting money 1.1. Cash went up 2. Invoiced for $200 2.1. A/R went up by $200 3. Invoice gets paid. A/R goes down by $200 3.1. Cash goes up by $200 4. Bought something for $100 – receipts went up by $100 4.1. Payables went up by $100 5. We paid invoice & A/P went down by $100 5.1. Cash went down by $100 6. Net earnings is revenue minus expenses 6.1. Net earnings is added to equity |
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AU 3291 |
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Daily Tasks | 11/7/2007 |
• Emails to Steve. • Pointing domain names to MSAI server. • Set up the Adilas, LLC Corp. • Changed the main index.cfm page to handle morningstartrailers.com & .biz and all Adilas domain names. • Research on A/R’s and A/P’s. |
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AU 3292 |
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Daily Tasks | 11/8/2007 |
• Fixing small problems with vendors. • Changed some domains around for Morningstar trailers and wrote an email to the folks at Adilas.com. |
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AU 3293 |
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Daily Tasks | 11/9/2007 | • Research on accounting basics. | |
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AU 3294 |
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Daily Tasks | 11/10/2007 | • Research on accounting basics. | |
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AU 3295 |
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Daily Tasks | 11/12/2007 |
• Brainstorming and doing research on balance sheet items. • Went into MSAI and asked the accountant questions about the balance sheet and her knowledge of accounting. 10 miles. |
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AU 3312 |
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Daily Ideas | 11/12/2007 |
Chart of accounts: (account types) 1. Dummy 2. A/P 3. A/R 4. Acc Dep 5. Capital 6. Cash 7. Cost of Sales 8. Equity – doesn’t close 9. Equity – gets closed 10. Equity – retained Earnings 11. Expenses 12. Fixed – assets 13. Income 14. Inventory 15. Long term liability 16. Other assets 17. Other current assets 18. Other current liabilities -Dep on a monthly “term” -Flat rate on rates Light bill: type – ex, show up – income stm. Buying trailers: type – inventory, show up – balance Reimbursing employees: type – payable, show up – balance Repaying loan: type – payable, show up – balance -Fork lift – starting 5000 fixed asset, starting 5000 A/P – 1st 500 – 4500, 2nd 500 – 4000 -Part ticket: 5 invoice 24 – 5 to Dep 1. Part ticket: -5 invoice 34 – 5 Rec -On payroll – round the state tax to .00 -Help out on finish payroll -Change pmt status to dep status Sample #’s – see notebook scan for more sample #’s - Assets: o Cash – 20,000 o A/R – 1,200 o Land – 55,000 o Building – 36,000 o Tools & Equipment – 12,000 o Total: 124,200 - Liabilities: o Notes Payable – 30,000 o A/P – 7,000 o Total: 37,000 - Equity: o Capital Stock – 80,000 o Retained Earnings – 7,200 o Total: 87,200 |
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AU 3296 |
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Daily Tasks | 11/13/2007 |
• Small system changes. • Added Mexico for customers. • Rounded off state withholdings on payroll. • Changed some verbage on receivables. • Research and brainstorming on balance sheet items. |
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AU 3297 |
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Daily Tasks | 11/14/2007 |
• Biked into MSAI. Helped in the accounting office. • Voided invoices and cleaning up A/R’s. |
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AU 3298 |
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Daily Tasks | 11/15/2007 | • Biked into MSAI. Worked on A/R’s and spent time with the accounting and payroll ladies. | |
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AU 3299 |
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Daily Tasks | 11/16/2007 |
• Biked into MSAI. • Worked with the accounting and payroll ladies on cleaning up the A/R’s. Added a reminder on the clock-in/clock-out section for A/R’s. • Started working on the out of area taxes for invoices. |
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AU 3313 |
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Daily Ideas | 11/16/2007 |
A/R Associate’s Paperwork Process: 1. Stamp – open and stamp 2. Delegate mail a. Payables b. Inventory c. Title d. Receivable & payroll 3. Sort in types a. Cash/check b. CC 4. Prep & making notes 5. Checking bank for CC batch #’s and checking to make sure money is in the bank or at least recorded in CC payment app. 6. Print out CC batch reports with system deposit info 7. Start in on CC transactions and working through deals 8. Dealing with Deposits (CC transaction) – add/edit remove and make new printouts according to actual batches not deposits sent in by sales and staff 9. On the sale of a unit a. Check deposit b. Invoice c. Ok for payroll d. Prep jacket (for units) Associates PO’s & Payables: -Working with associate on invoices. Watched her doing a redneck statement. -Need a way to mark PO’s as paid. -Redneck statement had 40+ invoices – some were for other corps and some were for different amounts – received x $, invoiced for y $ - the PO should be boss? On paying PO’s: - She adds each PO as a separate line item. She records the external invoice # and date in the expense line item description. Each line item gets the PO total and gets assigned the correct expense type. She put the store to BSI (inventory is balance sheet). - Possibly add a link at the top of the add/edit form that says pay a PO for this vendor. Set it up so that the user can check (box) the PO’s and enter the store and expense type. They can use this sub form as often as needed. - In the background we could mark the PO’s paid and record a receipt #. Add payment notes on update payment status page |
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AU 3300 |
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Daily Tasks | 11/19/2007 | • Working on out of area taxes for invoices. | |
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AU 3314 |
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Daily Ideas | 11/19/2007 |
-Need to work on sales tax report -Check for other method calls – out of area tax and invoices |
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AU 3301 |
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Daily Tasks | 11/20/2007 |
• Finished up out of area taxes and brainstormed on ideas. • Worked on special orders, payables, and requests. • On the phone with Steve and brainstorming on the business as a whole rather than operations vs. accounting. |
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AU 3315 |
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Daily Ideas | 11/20/2007 |
Talking to Steve on the phone on 11/20/07: Payables need reverse logic compared with receivables. Tons of ways to create payables: - Stock - Trade-in - Payroll - Need check - PO - Statements - Hit bank Need: - Multiple payments - Aging Request vs. Payables: - Make sure bill or request is valid - Approve Charge to store expense (income statement) Charge to balance sheet (balance sheet) Income Statement: (income statement expenses) - Interest - Advertising - People - Fixed expense - Semi-fixed expense Balance Sheet: - Inventory - Receivable assets - Property & equipment - Liabilities - Capital & equity Inventory: - Corp - Stores - Category - Expense type Ways to track payables: Two models for tracking buying & selling: Selling or Offering: What: Product or Service 0. Quote: (not required) (convert if need to invoice) 1. Invoice: (Revenue statement contract to sell) 2. Payment(s) Received: a. Mini loop that may occur 3. Deposit: (money in) 4. Verify & post (done) A/R – please see sketch in photo gallery: - A/R’s Bucket o Total $ (invoices) o A/R’s (what is owed to us) o Total payment $ - Payments Received: o Checks o Cash o Visa o CC o Deposits - A/R’s will go up and down Buying or Wanting: What: product or service 0. Expense Request (check request & payable request – not required) – convert to E/R if needed a. Approval or Disapproval 1. Expense/Receipt – (contract to buy or pay) 2. Payment(s) Made – mini loop that may occur 3. Withdrawal – (money out) 4. Verify & post (done) A/P’s – Please see sketch in photo gallery - A/P’s Bucket: o Total $ out (due) – (expense/receipts) o A/P’s – what we owe o Total payment $ made - Payments Made: o Checks o Cash o EFT o Withdrawals - AP’s will go up and down *”Make things adjustment FREE!” “Keep it simple.” - Request - Payables - Aging on payables - Expense types – destinations - Balance sheet items |
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AU 3302 |
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Daily Tasks | 11/21/2007 |
• Steve came over and we brainstormed on payables, requests, and balance sheet items. • Worked on new chart of accounts tables. • Writing an email to Steve about default chart of accounts. |
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AU 3316 |
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Daily Ideas | 11/21/2007 |
Types of Balance Sheet Transactions: - Capital Paid In: o Cash goes up o Equity goes up - New Asset – Cash Purchase: o Cash goes down o Assets goes up - New Asset – Credit Purchase o Assets goes up o Liabilities goes up - Accounts Receivables: o Short term: • Assets goes up • Net income goes down • When closed: • Assets goes down • Cash goes up o Long term: • Assets goes up in long term A/R’s • Assets goes down in some other asset account or cash - Accounts Payable: o Short term: • Liabilities goes up • Net income goes down • When paid on: • Liabilities goes down • Cash goes down o Long term: • Liabilities goes up • Assets goes up • When paid: same as short • Liabilities goes down • Cash goes down - Depreciation: o Assets goes down o Retained earnings goes down - Sell on Asset: o Cash goes up o Assets goes down - Inventory: o Cash goes down – assets goes up o OR o Assets goes up and liabilities goes up - Pay Owners/Share Holders: o Cash goes down o Equity goes down - Retained Earnings: o What is left over - Net Income: o Revenue o COGS o Expenses o Operations Typical Start-up Business: 1. Initial deposit: (happens at first and then maybe later if needed) o $ Source: • Capital paid in • Out of pocket o $ Destination: • Bank account o $ Record By: • Positive bank account • Balance sheet item o Actions: • Deposit made • Transaction recorded 2. Buy something for the company to do work: (loops within the list – loops between 2 & 5, and mini loops between 3 & 4) o $ Source: • Bank account or • Loans & credit o $ Destination: • Into the asset and eventually to the vendor who sold the item o $ Record By: • Money spent • Product purchased • Amount owed • Balance sheet items o Actions: • Receipt made • Asset recorded • Liability recorded 3. Purchase Inventory: o $ Source: • Bank account or • Loans & credit o $ Destination: • Pay the vendor o $ Record By: • Inventory going up • Bank account goes down or • Liabilities goes up o Actions: • Purchase order • Stock it in • Start paying it off by showing payments on account 4. Start Selling Inventory: o $ Source: • From customers o $ Destination: • Bank account or • Accounts receivables o $ Record By: • Invoice & • Deposits • Payments made o Actions: • Make the sale record payments • Deposit available funds 5. Pay down what you owe: o $ Source: • Revenue/sales or • Bank account o $ Destination: • Vendor who we owe payables o $ Record By: • Payments made to vendor • Decrease amt. owed o Actions: • Pay bills, statements, or payments • Refund as expense or COGS 6. Pay yourself or others from the business: (happens at a set time, say semi-monthly) o $ Source: • Bank account o $ Destination: • Share holders • employees o $ Record By: • Payments made to individuals o Actions: • Record as payments lower what we owe and money goes out • Could be expenses or dividends paid Other accounting notes: - Simple business in buying and selling. Who & what & when do we buy from & when do we pay? - Who & what & when do we sell items to & when do we get paid? - Currently there is a split between operations and accounting: o Operations are the day to day business (step 3 & 4 above) o Accounting is the day to day side of who are we paying and who is paying us o It deals with the less frequent steps like steps 1, 2, 5, & 6. - Why not make Accounting into just an operation that is done daily, weekly, monthly, quarterly, and annually? - Accounting seems to have this magic cloud over it. In reality it is all part of the same process. - In operations, you purchase inventory, stock it in, sell it, invoice the customer, and collect payment. You then take that money and deposit it. - In accounting, you see the same transaction as: The store orders inventory (request for inventory), you authorize purchase and payment terms. Once we get inventory we need to make sure we show it in the system as inventory. In the background we now have a payable (we owe for something). Once it sells and payments are made, we need to track how much was paid, when, and by who. This is a receivable (someone owes us something). Once it hits our bank we need to acknowledge how much, when, and by who. Also, in the background unbeknownst to the salesperson, we have to pay for the items (payments on the payables). - The question is how can you combine them? How can you allow them to be handled separately but flow together in the end? How can you minimize the steps for both parties or make it a single job? - The ideal goal is track every penny in & every penny out. This is a sample request for use of a penny to get two pennies: 1. I want to sell a piece of gum for $0.02, and it cost $0.01 to buy it. First, I need to see if I have $0.01 to buy the piece of gum. - Create an expense request for $0.01 2. If I have the money, I can approve the expense and go forward. If not, I can’t go any further until I get more money. 3. Let’s say that I have the money and want to buy the gum. I buy the gum and get a receipt from the gum man. I now own the piece of gum and can sell it or eat it myself. - Oked request - Bought inventory - Paid for it - Have receipt to prove it 4. Now, I can mark it up to $0.02 & sell it. - Sell inventory – invoice - Get $0.02 - payment - Deposit the money – deposit 5. Now, I have two dollars ($0.02) in the bank |
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AU 3303 |
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Daily Tasks | 11/23/2007 |
• Brainstorming on balance sheet items and research on chart of accounts and category grouping. • On the phone with Steve. • Went into town to meet with Steve about balance sheet items. 10 miles. |
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AU 3304 |
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Daily Tasks | 11/24/2007 |
• Working on adding a new main inventory type called a general unit. It will be similar to a trailer and vehicle without the specific pieces like odometer, vin, etc. • Working on corp specific makes and models. |
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AU 3305 |
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Daily Tasks | 11/26/2007 |
• Working on the makes and models clean-up section. • Added code to allow corp specific common features. |
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AU 3306 |
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Daily Tasks | 11/27/2007 |
• Help files and posting model clean-up section. • Went into MSAI and worked with an associate on the makes and models clean-up. Also went to accounting office and worked with the accounting ladies. 10 miles. • Making changes to the models pages. • Multi corp reports and options. |
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AU 3317 |
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Daily Ideas | 11/27/2007 | -Manger time clock – need a way to clean that up | |
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AU 3307 |
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Daily Tasks | 11/28/2007 |
• On the phone with Steve talking about security issues and options. • Wrote an email with current and future security concerns. • Finished up the multi corp reports for models. • Started working on the add/edit general units pages. |
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AU 3308 |
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Daily Tasks | 11/29/2007 |
• Re-did the stock detail page and changed the navigation of the page. Also took the 95% with options off the tables to help things look tighter. • Worked on inventory and sold reports for general units. • Working on inventory & sold reports. • Add/edit store updates for general units and started into the sales process. |
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AU 3318 |
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Daily Ideas | 11/29/2007 | -Sale price, trade allowance, 1099, Name, address, EIN or SSN | |
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AU 3309 |
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Daily Tasks | 11/30/2007 |
• Working on the sales process for general units. • On the phone with Steve going over ideas for reps. • Pricing and cost scenarios. • Finished up the sales process and invoice and quote changes for general units. |
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