Charges didn't post when PO receipt is posted. Why?

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Suggested Answer
Kim Johnson asked a question on 18 May 2018 10:20 AM

Hi All, 

In my purchase order, the material cost is $3,000.  I add two charges to my PO (Truck freight is $200 and GL insurance is $50).  When I post a PO receipt, I want to see the total cost of $3,000+$200+$50 = $3,250 to post to my inventory account.  Somehow my 2 charges didn't show up when I posted the PO receipt (screenshot 5).  Am I missing something when I set up the charge code?  Thanks

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Suggested Answer
Ludwig Reinhard responded on 18 May 2018 11:40 AM

Hi,

The charges should be posted at the time the invoice is posted.

Can you invoice the PO and check the postings created.

Best regards,

Ludwig

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Kim Johnson responded on 18 May 2018 11:48 AM

Hi Ludwig,

Yes, the charges is posted at the time the PO is invoiced, but I want to get my accrued charges to post at the time of PO receipt.  I saw it posted before; but can't seem to replicate it.  

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Suggested Answer
Daxer Persson responded on 18 May 2018 12:55 PM

is your configured item a standard cost item? then inventory will receive to std. cost value regardless of charges.

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Kim Johnson responded on 18 May 2018 6:17 PM

Hi Ludwig,

Typically, when you post a PO receipt, it hits an accrued account credit.  So, if the charges is posted at the point of invoice, then what account do the charges hit? An expense account or an accrued account?

Thanks

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Suggested Answer
Ludwig Reinhard responded on 19 May 2018 4:55 AM

Hello Kim,

You basically have two choices for posting the charges:

1. Post them to a ledger account e.g. a P&L account

or

2. Post them on top of the item costs and increase your inventory value correspondingly.

The setup is made in the following form

Best regards,

Ludwig

Reply
Suggested Answer
Ludwig Reinhard responded on 18 May 2018 11:40 AM

Hi,

The charges should be posted at the time the invoice is posted.

Can you invoice the PO and check the postings created.

Best regards,

Ludwig

Reply
Suggested Answer
Daxer Persson responded on 18 May 2018 12:55 PM

is your configured item a standard cost item? then inventory will receive to std. cost value regardless of charges.

Reply
Suggested Answer
Ludwig Reinhard responded on 19 May 2018 4:55 AM

Hello Kim,

You basically have two choices for posting the charges:

1. Post them to a ledger account e.g. a P&L account

or

2. Post them on top of the item costs and increase your inventory value correspondingly.

The setup is made in the following form

Best regards,

Ludwig

Reply