Client enters a PO invoice match for $2,671.05. The vendor offers a payment term of 1%10/Net 30. What posted was $2,671.06 to accrued purchases and $0.01 to inventory.
This happened months ago and we just noticed this because the end of the fiscal year is tomorrow.
Has anyone else seen a rounding issue like this before?
Hi Richard,
I could see this occurring if the Shipment Receipt was posted for $2671.06, then the Enter/Match Invoice was posted for $2,671.05, the $2,671.06 would post as a Debit to Accrued, while the Credit of $0.01 would post to inventory.
Is this the scenario of what occurred in your case?
This is scary. On the shipment receipt it is qty 2 x $1,335.53 = $2,671.06
On the invoice receipt it is qty 2 x $1,335.53 = $2,671.05
So that is where the penny is coming from but clearly the invoice receipt is wrong.
Under review
Thank you for your reply! To ensure a great experience for everyone, your content is awaiting approval by our Community Managers. Please check back later.
As AI tools become more common, we’re introducing a Responsible AI Use…
We are honored to recognize Abhilash Warrier as our Community Spotlight honoree for…
These are the community rock stars!
Stay up to date on forum activity by subscribing.
CA Neeraj Kumar 2,028
André Arnaud de Cal... 878 Super User 2025 Season 2
Sohaib Cheema 579 User Group Leader
