2014-06-06 Meeting notes

1. Ces and Berna checked the Imported Chart of Accounts.

2. Question raised by Ms. Ting: Why is there no Account Type of Inventory or Inventory Asset. What Account Type do we use for such Account?

Answer: Account Type to use is Other Current Asset.

3. Problem raised by Ms. Ting: As an Administrator, when creating a new Department (Setup > Company > Departments > New), I am unable to select existing Departments that was created by Ms Nins in the Sub Department Of field.

Answer: Problem caused by browser cache and history. Solution is to logout-login, reload page (CTRL + F5) or clear browser's cache and history (CTRL + Shift + Delete).

4. Discussed the Departments and Classes that were created in the Account. Berna and Ces confirmed that setup is correct.

                Department Setup:

                                Administrative Department

                                                Salaries and Wages

                                                Non-Cash Admin Expenses

                                                Other Admin Expenses

                                Program

                                                Advocacy

                                                Disaster

                                                Education

                                                Water

                Class Setup:

                                AGOS

                                                Installation

                                                Training

                                Little Red Schoolhouse

                                                Classroom Construction

                                                Training

                                TAYO

5. Created a Vendor and Customer Record and learned how to associate 'Other Relationship' to record. In line with this, we also disabled Auto-Generated Numbering for all entities (except Employee) as you mentioned that you only need to use the name of the record, no special code or numbering required.

6. We also created a Donation Record (Cash Sale) (Transactions > Sales > Enter Donation) to understand how we can use the Department, Class, Location in an actual transaction. See Donation# 1 (Internal ID: 1) as reference.

7. We created an Item Record (Lists > Accounting > Items > New) (Type is Service for Sale, Name is Donation, Internal ID: 15) so we can use the appropriate Income Account to record the donation.

8. The Donation currently sits to Undeposited Funds. To move this Amount from Undeposited Funds to your Bank Account, we have to Make a Deposit (Transactions > Bank > Make Deposit). However, earlier when we tried to go to this page, we encountered an error related to Witholding Tax bundle.

* I have already resolved this error so you should now be able to access this page.

9. We also discussed how you can record the Expense side. First, we created a Check (Transactions > Bank > Write Checks) (Number: 1 | Internal ID:2). In the Expenses tab, we used the appropriate Expense Account, selected the Department, Class and Location. This is to record the Amount that will be given to the Vendor for a specific Grant.

10. You mentioned that once the project is completed, you will then receive an Expense Report from the Vendor that contains the breakdown of the expenses incurred for the project. You would need to track the details of the Expenses.

11. For this, we discussed that you can create a Vendor Bill (Transactions > Purchases/Vendors > Enter Bills) to record the breakdown. We discussed that you can use an Item (Service for Purchase Type) to record the breakdown of the expense rather than creating separate Expense Accounts. See Vendor Bill Record# 1 (Internal ID: 3) that was created for this test.

12. We tried to Make Payment for the bill, however, same error was returned due to the witholding tax bundle.

* I have resolved this error so you should now be able to click the Receive Payment button from Bill record with no error.

13. You also mentioned that you need to associate the Project to the Partner not to the Donor record. The standard Project record can only be associated to a Donor, so we agreed that we would need to create a custom record for this.

ACTION ITEM: Ces to send instruction to Ms. Nins on how to create the Custom Record.

14. Project record needs to be linked to the Expenses.

NOTES:

Upon further review, it would seem that creating a Check to record the Expense would not work as we cannot directly apply the Check to the Bill to close it out. Also Bill would hit against Accounts Payable (Credit) and the Expense Account (Debit) while Check will hit your Bank Account (Credit) and Expense Account (Debit). Let's discuss this further in our next session.

For this, I will hold off giving instruction on how to import transaction as we would need to establish first how to correctly enter it manually.

Action Items for Ces and Berna:

                1. Provide instruction through email on how to Import Vendors and Customers

                2. Provide instruction on how to create custom record (for Project)

Action Item for the Grantee:

                1. Import Vendors and Customers

Action Items for our next session:

1. Discuss how to record expense (what transaction record to use in NetSuite)

2. Finalize discussion of recording of income/donation. Confirm if this setup will work for the Grantee.

3. Import Transaction.

4. Discuss Ending Balance for previous years and Opening balance for 2014.

Tentative Date for Next Session: June 20, 2014 (Friday)