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I was wandering if anyone would be able to help me with the following scenario in AX2012 or AX7
Scenario: Supplier Purchase Order for Item 1 = £100
Invoiced at £110
Stock Updated at £110.
Credit Received for £10
How would I process the £10 credit note against the supplier and update the original item cost to £100. Please note that the inventory costing method is FIFO.
Thank you in advance
Shall the 10GBP be taken off from the stock value of 110GBP?
If so, have you tried making a negative adjustment in the PO invoice journal though the use of a charge code?
Hi Ludwig, We have a similar issue, and struggling to create a negative adjustment using charge code to post a Credit note that would have been received from supplier alongside updating the Item cost and the subsequent Cost of Sales (if already sold in the meantime). The above scenario uses FIFO as costing method. Would appreciate your further detailed input on this.
Hi Sanjay Dabasia,
Please try opening the PO and there the invoice Journal.
In the invoice Journal form select 'charges - adjustment'.
Select a charge code that is setup with a debit posting type item and enter a negative adjustment amount.
Close the form and check the voucher that is automatically created in the background by checking the voucher in GL.
Run an inventory recalculation for the item.
This should adjust the cost price correspondingly.
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