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Inventory calculation for invoice not booked

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Posted on by DM-12071701-0
We have a company policy  whereby when we receive the items (RM / PM), it is recived in Quarantine Location, immediately the GRN is booked but not the invoice. The item then moves from Quarantine to Under Test and then to Approved after all the quality testing. This generally takes 20 day cycle due to certain test. As per our policy only if the material is approved the invoice is booked. 
 
1) During this 20 days window when we try to generate the PnL (Profit and Loss) accounts the valution for this GRN is not accounted though the material is part of my inventory. it only gets accounted on booking the invoice. But if we want to generate a live PnL with this quarantine kr undertest material is not not possible. How can i address this. 
 
2) if we consider changing our policy and booking the invoice immediately along with the GRN, the invoice should be going on temperory hold to avoide making unintentional payment by our accounts till the material is approved. The Stores can move the invoice from temperory hold to approve to allow the accounts to process the payment. 
 
Let me what is a workaround for this. 
Categories:
Financial Management
  • DM-12071701-0 Profile Picture
    DM-12071701-0 on at
    Inventory calculation for invoice not booked
    Dear, Thanks for your detailed explanation. we are working on the same lines as suggested by you in option 1
  • Suggested answer
    Valentin Castravet Profile Picture
    Valentin Castravet 6,908 Super User on at
    Inventory calculation for invoice not booked
    There are several things you can do:
     
    First, you can turn on expected cost costing. What this does is that the system will automatically will post the expected value of the inventory to the GL when you post the GRN. I'm guessing currently you have this turned of so nothing gets posted to the G/L. More info here - Design Details - Expected Cost Posting - Business Central | Microsoft Learn
     
    Second, instead of turning expected costing posting on, you can run the Inventory to G/L Reconcile report. This report has columns for inventory received not invoiced, and shipped not invoiced. You can take the amounts in those columns and book them as accruals to your GL. Or you can simply use the report to see the monetary value of your GRN.
     
    Third, while I would not recommend this option - as per your second point, you can book the invoice immediately. In the vendor ledger entries there's an on hold field. You can use this field to manually mark all invoices that should not yet be paid. If you use suggest vendor payments in the payment journal, a value in the on hold field ensures those invoices do not get populated automatically in the journal. 
     

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