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What are the Entries posted product receipt and inventory receipt

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Posted on by vinay prudvi

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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

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Andre Ghazaleh 870 on at

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Hi Vinay,

Please check this link:

https://www.erpsoftwareblog.com/2014/10/purchase-order-product-receipt-vendor-invoice-posting-microsoft-dynamics-ax-2012-r3/amp/

BEST REGARDS

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vinitgoyal2005 6,332 on at

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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/.../

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Ludwig Reinhard Microsoft Employee on at

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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

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vinay prudvi 173 on at

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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

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Ludwig Reinhard Microsoft Employee on at

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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

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vinay prudvi 173 on at

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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

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Ludwig Reinhard Microsoft Employee on at

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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

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