Dynamics Community Forum Thread Details

Pending Invoices

Hi All ,

June 15^th material received against the PO and sold same to customer also (Invoiced) . Assume that Client completed the Inventory closing and financial closing on June 30^th for the last financial year .After this process client realized that they are two open purchase invoices for the received material , total value Invoice value $ 1,00,000 and some freight charges also $ 6,000 ,which had to post in the month of June ,but forgot to post in June.

On which date user should post these open purchase invoices in Ax 2012 and what would be effect on received inventory and what would be cost applied to shipped material.

What would be the effect on Inventory ?

Thanks in advance.

Hi Lally,

This is what will happen according to for example a FIFO method.

1. You receive items on a purchase order. The items receive a physical cost amount. Depending on your setup (include physical value) the value of those items will be calculated into the current running average of your inventory.

2. The items are sold to the customer. The cost is the current running average.

3. An inventory closing is done for the period. Since you haven't received your invoices the purchase order and sales order will remain open for settlement.

4. The user posts the purchase order Invoices on the day after the inventory closing. The receiving transaction receives the cost amount on that financial date. There is no effect on the sales order cost amount.

5. Another inventory closing is done for the next period. At this point the system will settle and adjust if necessary the sales order cost amount with that from the purchase order.

Was this helpful?

Kind regards,

Josip

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