Home » Financial Processes

Financial Processes

Inventory & Financial Flows
Inventory & Financial Flows
Harvest
Harvest
Bulk Receival
Bulk Receival
Additions
Additions
WIP Inventory
WIP Inventory
Packaging
Packaging
Bulk Sales
Bulk Sales
Finished Item
Finished Item
Purchase Order
Purchase Order
Overheads
Overheads
Sales Order
Sales Order
Item Inventory
Item Inventory
?
[Not supported by viewer]
?
[Not supported by viewer]
?
[Not supported by viewer]
?
[Not supported by viewer]
?
[Not supported by viewer]
?
[Not supported by viewer]
?
[Not supported by viewer]
Product comes into Vinsight as either, Item Inventory (additives, packaging materials etc.) through a Purchase Order, or Work-in-Progress Inventory (fruit or bulk product) through an operation with an optional attached purchase order.

 'Operations' process and move product either within its inventory group (e.g. from one tank to another) or from one inventory group to another (e.g. from work-in-progress to finished items, or from dry inventory to work-in-progress.)

In these cases it may be journals that will be keeping the financial flows in sync with the product flows.
[Not supported by viewer]
?
[Not supported by viewer]
Text
Text

Vinsight

Action

Operation

 Reports

Data Sources

Xero

Purchase Dry Goods

   

 

Purchase Order ‘Receive’ - Adds product to Inventory

Purchase Order ‘Post’

- Sends data to Accounts

Purchases by Product

Cost of Goods Purchased

Stock on Hand

Purchase Order/ Sub Totals

Dr Dry Goods = SubTotal

Dr Sales Tax = Sales tax

Cr Accounts Payable = Total

Post Purchase Order

Dr - Dry Goods

Dr - Sales Tax

Cr - Accounts Payable

Grower Operations    

Addition (Type - Grower)

  • Depletes Inventory
  • Tracks expenses by subblock

Operation Additions History

Operation Quantities and Costs report

Cr - Grower Additives

Dr - Fruit WIP

Purchase Bulk Wine

 

Purchase Order of non-inventory item “bulk wine” linked to Bulk Receival

Bulk Receival linked to Operation to Receive bulk into vessel

Bulk Receivals By Wine

Bulk on Hand

Purchase Order/ Sub Totals

Dr Bulk WIP = SubTotal

Dr Sales Tax = Sales tax

Cr Accounts Payable = Total

Post Purchase Order

Dr - Bulk WIP

Dr - Sales Tax

Cr - Accounts Payable

Purchase Fruit

   

Purchase Order of non-inventory item “fruit” linked to Operation to Process

Operation to Process fruit into vessel

Harvest Histories

Purchase Order/ Sub Totals

Dr Bulk WIP = SubTotal

Dr Sales Tax = Sales tax

Cr Accounts Payable = Total

Post Purchase Order

Dr - Bulk WIP

Dr - Sales Tax

Cr - Accounts Payable

Harvest Fruit

   

Operation to Process fruit into vessel

Harvest Histories

Harvest Entry/ Cost Information

Dr Bulk WIP - Total Cost

Cr Fruit WIP - Total Cost

Dr - Bulk WIP

Cr - Fruit WIP

Additions

   

Addition (Type - Bulk Operation)

  • Deplete dry goods inventory
  • Applies items to bulk WIP

Operation Additions History

Vessel Composition

Bulk on Hand Cost Summary

Cr - Dry Goods

Dr - Bulk WIP

Overheads

   

Create Component Allocation

Component Allocation/ How Much

Cr Holding Account = Total

Dr Bulk WIP = Total

Not currently posted to Xero

Cr - Holding Account

Dr - Bulk WIP

Sale of Bulk WIP

Sales Order linked to non-inventory item “bulk wine” linked to Bulk Despatch

Bulk Despatch linked to Operation to Despatch bulk from vessel

Sales by Product

Despatch Movements

Sales Order/Sub Totals

Cr Revenue = Sub Total

Cr Sales Tax = SalesTax / GST

Dr Accounts Receivable = Total

Post Sales Order

Cr - Revenue

Cr - Sales Tax

Dr - Accounts Receivable

Packaging - Bulk WIP to Finished Goods

       

- Complete Packaging Operation in real time

- Review and post Bottling Journal for the period at the end of the period

Packaging

  • Depletes dry goods inventory
  • Depletes bulk WIP
  • Adds to stock of finished goods

Packaging Additions History

Bottling Journals

Stock Item/ Finished Item Components/View Composition/ Cost Summary-

Cr Bulk WIP = Total Cost - Packaging Cost.

Cr Dry Goods = Packaging Total Cost

Dr Finished Goods = Total Cost

Or

Packaging Operation

Review and Post Bottling Journals

Cr - Bulk WIP

Cr - Dry Goods

Dr - Finished Goods

Packaging - Pack to Pack

       

- Complete Packaging Operation in real time

- Review and post Bottling Journal for the period at the end of the period

Packaging

  • Depletes unfinished items
  • Depletes dry goods inventory
  • Adds to stock of finished goods

Packaging Additions History

Bottling Journals

Once operation updated  can find total packaging costs for stock item by doing following:

Stock Item/ Finished Item Components/Composition/ Cost Summary-

Cr Unfinished Goods = Total Cost - Packaging Cost.

Cr Dry Goods = Packaging Total Cost

Dr Finished Goods = Total Cost

Review and Post Bottling Journals

Cr - Finished Goods

Cr - Dry Goods

Dr - Finished Goods

Sale of Inventory Items

Despatch Sales Order

- Depletes finished goods inventory
Post Sales Order to accounting system

Sales by Product

Stock on Hand

Sales Order/Sub Totals

Cr Revenue = Sub Total

Cr Sales Tax = SalesTax / GST

Dr Accounts Receivable = Total

Post Sales Order to Xero

Cr - Revenue

Cr - Sales Tax

Dr - Accounts Receivable

Cost of Sales Journals

Review and post Cost of Goods Sold/Delivered (COGS) journal at the end of the period

Cost of Goods Delivered or Sold

Post COGS Journal to Xero

Cr - Finished Items

Dr - Cost of Sales Expense