ACQNET: Amortizing payment of serial invoices

From: Paul Orkiszewski <orkiszewskip_at_appstate.edu> Date: Fri, 30 Jan 2004 08:34:05 -0500 To: acqnet-l_at_listproc.appstate.edu

Date: Wed, 28 Jan 2004
From: Meghan Manahan (American Museum of Natural History) <meg_at_amnh.org>
Subject: Amortizing payment of serial invoices

Hello all,

For accounting purposes, it looks like we may have to amortize the
recording of payments of invoices for serials.  For example, we would
pay $120.00 for a year's subscription to a monthly journal, but it
would be recorded as 12 monthly payments of $10.00 each.  This new
procedure would require the labor-intensive task of amending our
invoices (including, of course, the gigantic yearly invoice from our
subscription agent) to show which titles are annuals, quarterlies,
monthlies, etc.  There are also the issues of adjustments throughout
the year, changes in frequency, etc.

This is a new request for us, so we are wondering if this is a common
practice elsewhere and if it has proven to be easy/effective/not an
issue.  Any thoughts would be greatly appreciated.

Sincerely,

Meg Manahan
Acquisitions Librarian
American Museum of Natural History
Central Park West @ 79th Street
New York, NY 10024

Email: mmanahan_at_amnh.org
Phone: 212-769-5409
Fax: 212-769-5009

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