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Hello Everyone,
Can you please explain what are the entries posted at the time of Product receipt , Invoice Posting Time .
Thanks & Regards
Vinay
Hello Vinay,
What you write is correct except for the last transaction where you say that
DR: Product receipt
CR Purchase accrual
remains.
This transaction should be reversed at the time you post the invoice.
Please double check the invoice voucher and check also the related vouchers created to get the full picture.
Best regards,
Ludwig
Thanks Ludwig,
I got Some Clarity,
When the product has been received in the warehouse the below entry has been posted :
DR: Product receipt
CR: Purchase expenditure uninvoiced
DR: Purchase expenditure uninvoiced
CR: Purchase accrual
when invoice has been posted the below entry has been posted :
DR: Purchase inventory receipt
CR: Purchase expenditure for product
DR: purchase expenditure for product
CR: Accounts payable.
Purchase expenditure uninvoiced DR and CR cancelled the entry remaining is :
DR: Product receipt
CR: Purchase accrual
Purchase accrual is temporary Liability but where it has been reversed and what about Product receipt.
Please help me out.
Regards
Vinay
Hi Vinay,
The transactions that you see on the 'expenditure accounts' are 'in between' transactions that are just needed for technical reasons to integrate the general ledger with the subledgers. If you exclude those accounts - which offset each other because they are posted with the same amount on the DR and CR side - then you get the following (summarized) transactions.
Product receipt
DR; Product receipt
CR: Purchase accrual
The idea of this posting is that your inventory value increases and that you post a temporary liability on the accrual account.
Invoice
DR: Inventory
CR: Accounts payable
With the invoice your inventory value increases and your liabilities increase.
Note that the invoice posting reverses the product receipt posting to avoid a double counting.
Best regards,
Ludwig
Hi Dr.Ludwig,
product receipt also called as Goods receipt.
What is the requirement of the below entries, what purpose we are using
Purchase expenditure uninvoiced
Purchase Accrual .
Purchase expenditure for product
i am not understand the concept of Purchase expenditure uninvoiced, Purchase accrual & Purchase expenditure for product
Thanks &Regards
Vinay
Good morning Vinay,
You can identify the transactions that will be posted from the inventory posting matrix that I shared in the next screenprint.
In general, for an ordinary stocked product, the following accounting vouchers are created:
Step 1: Product receipt posting
DR: Product receipt
CR: Purchase expenditure uninvoiced
DR: Purchase expenditure uninvoiced
CR: Purchase accrual
At the end of the day you have a posting that debits inventory and credits a liability account.
Step 2: Post invoice
This reverses all postings from step 1 and makes some additional entries. Usually as follows:
DR: Purchase inventory receipt
CR: Purchase expenditure for product
DR: purchase expenditure for product
CR: Accounts payable
These are a number of postings but by analyzing the transaction and posting type of your voucher you can easily see what is posted and when.
Best regards,
Ludwig
Hi Vinay,
There are many blogs that are available for this. Just search the internet for 'purchase order posting in AX 2012', 'Sales order posting in AX 2012' you will get many examples. For starter check: gfeaxblog.wordpress.com/.../
Hi Vinay,
Please check this link:
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