Officemate Inventory Help!!

[Optoit]

We are a private practice in the Dallas/Ft. Worth area. We are looking for a referral to help us implement the Officemate Frame Inventory system.

[davidcd5]

What exactly do you need?
Advice
Support
Input

I've been using OM frame inventory for 6 years.

david

[HTSouza]

Hello David,

Thanks in advance for your input. We are in the process of implementing OM's inventory module at this time and our challenge is on the bookkeeping side. As you know, OM only allows you to specify the "Product cost" and "Product Fee" for the frames. These number are not actual and therefore it is no help for bookkeeping/accounting. In other words, my inventory value, per Om's reports, is different than my actual numbers since the majority of the times we end up getting frames for a lower price than their book cost. And we may even sell the frames for a different price than the "Product Fee" due to discounts etc.

My questions is:

1. Do you have a different system for managing your actual costs?
2. How do you keep your books with accurate information?

Thank you very much!

[Striderswife]

Everywhere I've worked, we've always gotten a discount that made the actual cost of goods less than the list price, but always determined our price off of that list price. I've never had to put in our actual paid price.

We use Officemate, and two years ago I started utilizing the Rx Eyewear/Inventory portion. Before I came, they were doing it all on paper, with no sensical way of keeping track. I don't use all the functions, but we use what works. When the statements come, I basically reconcile the invoices and give that to our bookkeeper. What it basically comes down to is, we know how much we paid for the frames by the invoices, and we know how much money we brought in when we sold them.

I work in an independent's office now, but even when I worked for a larger corporation, that's how it was. Maybe there's a more exact way to do it, but this is what has always worked for me.

[Johns]

I think it says a lot about the support a software company offers, when a user has to post their questions here.

Absolutely nothing against the users. Nothing whatsoever. Ive' been exactly where you are now, and it is really frustrating.

I'm just saying that with all the marketing out there say how great and user friendly this program is, it's amazing how many users have difficulties.

[rbaker]

Check with your accountant. According to GAAP you can only have one amount for the "cost of goods sold" and that is the actual price you paid for the goods. The IRS and those who have equity in your company require that the books reflect "real" not imaginary data.

Officemate, to my knowledge, is not accounting software in that I don't believe it is double entry and does not have an audit trail.

[pauly47]

Hello David,

Thanks in advance for your input. We are in the process of implementing OM's inventory module at this time and our challenge is on the bookkeeping side. As you know, OM only allows you to specify the "Product cost" and "Product Fee" for the frames. These number are not actual and therefore it is no help for bookkeeping/accounting. In other words, my inventory value, per Om's reports, is different than my actual numbers since the majority of the times we end up getting frames for a lower price than their book cost. And we may even sell the frames for a different price than the "Product Fee" due to discounts etc.

My questions is:

1. Do you have a different system for managing your actual costs?
2. How do you keep your books with accurate information?

Thank you very much!

There is a spot in the product window to show what your "buying group" cost was.

[HTSouza]

Thank you Striderswife, Rbaker and pauly47 for you valuable input! I am still trying to reconcile your suggestions and see what will work for us.

Thanks again - and if you have more comments please post them.

[flexonman]

I use OM. In the box in the upper right corner it says Product Cost. Place your actual cost. Use the Frames/Buying Group Cost in the lower left corner for Frame Facts.

Works fine for us.