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Scrap Dragon Software LLC
Software
Scrap Dragon - Scrap Metal Recycling ...

Scrap Dragon - Scrap Metal Recycling Industry Specific Software

For over 26 years the team at Scrap Dragon has been recognized as an industry leader developer of scrap metal recycling industry specific software. We pride ourselves in being a technology solution partner with our thousands of users; spanning single location owners up to the largest multi-state operators. Scrap Dragon offers a best-in-class point of purchase to ensure your "data in" is clean and reliable while offering live inventory management, robust analytics, and flexible integrations to your preferred third party General Ledger, CRM, and more!

Purchase Compliance and Payables

Peripherals

Integrates with scales, driver license scanners, cameras, printers, signature pads, thumbprint scanners, and more!

Pricing Your Way

Purchase orders, one-to-one or one-to-many price lists, as well as weight based pricing options too.

Payables

Pay one ticket at a time or consolidate payments to be paid via a cash drawer, printed check, ACH, or EZcash ATM

Inventory Position and Profitability

On-Hand Inventory

Know your live on-hand inventory position and average cost at any point in time.

Barcoded Inventory

Print barcodes for your bales, boxes, and pallets. Scan to add to packing lists in seconds.

Sales Documentation

Weight tickets, bill of ladings, packing lists, and invoices all created once the outbound truck is weighed out.

Container Tracking & Truck Scheduling

No More "Lost" Containers

Tracks container swap frequency and view map of container locations

Seamless Integration

Integrated with the Scrap Dragon Buying Module

Mobile Portal

Driver's handheld displays schedule, instructions, and directions - Scrap Dragon Portal

Flexible A/P and A/R Interfaces To Meet Your Needs

Scrap Dragon’s General Ledger Interface passes accounting data electronically to your preferred General Ledger accounting systems without any additional manual data entry.

This is done as a 2 step process: The Scrap Dragon data is exported to an intermediary file and then that file is immediately imported into the General Ledger system. The end result is that the data from Scrap Dragon appears in the General Ledger accounting system as if it had been keyed in.

Some G/L Accounting systems use batch entry and in those cases, the data will appear in a data entry batch that can be reviewed and edited prior to posting to the G/L. Other systems use direct entry and in those cases, the data will appear already posted.

Inventory is in Scrap Dragon

Detailed inventory is maintained in Scrap Dragon in pounds and dollars. Each inventory item is assigned a G/L account for Inventory, Revenue and Cost of Sales.

Purchases are added to the Inventory account at the actual purchase cost while Sales are removed from the Inventory account and added to the Cost of Sales account at the average inventory cost.

Scrap Purchases

Because of the immediacy of most scrap purchase transactions, there isn’t time to utilize the accounts payable features of the G/L Accounting system. Instead all of the detail accounting for scrap purchases is completely handled by Scrap Dragon. Scrap Dragon maintains all of the detail information on what is owed and to whom. In accounting terms, this is known as a subsidiary detail ledger. Only summary A/P information is transferred to the G/L Accounting system. This can be done either through a manual journal entry or with the electronic interface.

Summary Scrap purchases can be recorded using either a cash or an accrual method. Using the cash method, the scrap purchase isn’t recorded until it is paid for. Using the accrual method, the scrap purchase is recorded when the material is received. The Scrap Dragon electronic G/L interfaces use the accrual method. It is important to do the A/P transfer on a daily basis, because tickets and payments from previous days can be adjusted in Scrap Dragon. Scrap Dragon assumes that any ticket or payment that is adjusted for a prior date has already been transferred to the accounting system and an adjusting entry is automatically created.

To Record the Scrap Purchase with Sales Tax:

dr Inventory
cr Accounts Payable
dr Sales Tax Expense
cr Sales Tax Payable

To Record Cash Payments:

dr Accounts Payable
cr Cash

To Record ATM Payments:

dr Accounts Payable
cr Cash-ATM

To Record Write Offs:

dr Accounts Payable
cr WriteOffs

To Record Check Payments:

dr Accounts Payable
cr Checking

Accounts Receivable Interface

Scrap Sales

Scrap Dragon handles the entire sale processing up to the creation of the invoice. Invoices are then transferred to the G/L accounting system. A/R balances and reconciling of receipts is handled in the G/L Accounting system. Invoices that are transferred are flagged in Scrap Dragon so that they cannot be transferred again.

If an invoice that has already been transferred is subsequently deleted, a credit memo may be automatically generated by Scrap Dragon and sent to the G/L. This is not available for all G/L accounting systems and the credit memo may have to be manually entered into the G/L. Invoices can be transferred at any time.

To setup Scrap Dragon there are a few steps: G/L Package (select package name), Transfer Options, Chart of accounts (enter pertinent account numbers/names for combo boxes), Account identification (set up the specific required accounts), Customer xref (in customer maintenance), add G/L account ID for ‘Bill To’ customers only, and lastly Inventory Accounts in the Inventory file maintenance (add G/L account numbers for each inventory item).

To setup the accounting package you only need Customers, Vendors, and Items.

To Account for the Money:

- dr Accounts Receivable (by customer number)

cr Sales Revenue (by item or group of items)

To Account for the Inventory:

cr Inventory (by item or group of items)
dr Cost of Goods Sold (by item or group of items)