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I am enjoying using the software and finding it helpful completing my VAT forms, I wish you could tab along though from column to column rather than use the space bar. It's a good piece of software though.
2016-10-21
Good except I have trouble figuring out how to pull up forms and save them with a different name after filling them with new information so I can save them all.
2017-01-05
Like the program, although it does seem complicated. However, I keep receiving error messages when I send docs to be signed, and when I send it in I receive a message saying it is on our end. I would like to use the program for many things, especially getting signatures, although it seems that isn't included now and is additional cost, so I may go to authentisign
2017-10-26
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2019-01-29
several clunky features
There are several clunky features I did not like.
(1) My first issue was that when editing text, the font would change from Times New Roman to Arial within the edit box. The user had to "tell" the computer to switch back to Times New Roman.
(2) Another issue I spotted is that if I want to italicize ONE word on a line of text, the entire line will become italicized. This was cured by deleting the italicized word, then creating a separate text box with the italicized word in it. The italic text box was dropped into the line of text with the plain text around it.
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2023-09-23
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2021-09-19
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2020-05-30
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How do you account for warranty?
Accrue the warranty expense with a debit to the warranty expense account and a credit to the warranty liability account. As actual warranty claims are received, debit the warranty liability account and credit the inventory account for the cost of the replacement parts and products sent to customers.
What type of account is warranty expense?
Warranty Expense Recognition While recording the event in the financial statements, the company will debit (charge) the warranty expense account and credit (report) a liability account when the product is sold to a client.
What type of expense is warranty?
Definition: Warranty expense is the cost associated with a vendor or manufacturer's commitment to repair or replace a product, should it not perform as intended during a specified period of time. In other words, it's the cost of repairing or replacing defective products after they have been sold to customers.
Is warranty cost an expense?
Warranty expense is the cost that a business expects to or has already incurred for the repair or replacement of goods that it has sold. Accrue the warranty expense with a debit to the warranty expense account and a credit to the warranty liability account.
What type of account is warranty reserve?
Warranty Reserve is a fund maintained by the manufacturer to meet warranty expenses. The warranty reserve balance is the balance left after deductions of claim expenses for the year. The accrual rate is usually a fixed percentage of sales and is managed by the finance department of the company.
Is warranty an asset?
Current or Long Term Asset At the end of any financial year the amount of the extended warranty that will be used in the next 12 months is classified as a current asset and the amount to be used after 12 months is classified as a long term asset.
Is a warranty an asset?
At the end of any financial year the amount of the extended warranty that will be used in the next 12 months is classified as a current asset and the amount to be used after 12 months is classified as a long term asset.
What type of account is warranty?
warranty liability definition A liability account that reports the estimated amount that a company will have to spend to repair or replace a product during its warranty period.
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