It can be the case that you have received the goods you have ordered from your supplier before you have received the invoice for those goods.
As you have already received the goods, you have to enter those into the inventory, but as you have not received the invoice from your supplier, the liability to pay for the goods cannot be recorded as an accounts payable and an alternative account needs to be established.
You need to have a view of all of the purchase orders that have been received, but not yet invoiced.
The Purchase Order Accruals enquiry allows you to account for accrued liabilities.
Access the Purchase Order Accruals screen:
Click Purchasing then click Transactions.
Click Purchase Order Accruals.
Note: All purchase orders where the full quantity has not been invoiced is listed on the enquiry and processing screen.
Adding a reversing journal for accrued liabilities:
Select the checkbox in front of the purchase order that you wish to work with.
Note: The Action Panel opens automatically from the right hand-side of the screen.Select the Create Reversing Journal card.
On the Nominal Reversing Journal screen, make any adjustments and click Save.
Note: As default the Journal will include a single line for every detail line, the outstanding net value of the transaction which is the amount not invoiced and it will se set to reverse when posted.
You can change the default options in the Purchase Order Options within the System which is security profile driven.
Extra options for the Purchase Order Accruals are:
Option | Description |
Default Contra Account |
|
Copy Costing Details From Purchase Order |
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Summarise Journal by Costing |
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Summarise Journal by Nominal Code |
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