Does anyone have clear instruction on how to post an invoice for Inventory and Non-inventory purchases?
Hi Amber,
Let me categorised things for you, there are two types of Invoices you can Post :
1. Purchase order Invoices (When you have Product master and creates PO to supplier)
a. Product can be type of Service/Non-Inventory : This will not have impact on inventory
b. Product can be type of Inventory (Stocked) : This will have Inventory impact
Accounting impact for both type of transactions can be seen here:
exploredynamics365.home.blog/.../
2. Non-Purchase order Invoice
For this you can use Invoice journal to post invoices
Now you can decode what is your process ? Do you want to create Purchase order or without purchase order.
Inventory purchases: We have to process invoice from purchase order which will post transactions against inventory and financials.
Non-inventory purchases:-
a) Through purchase orders: We can use service item(non stocked) or procurement category. Accounting happens debiting the expense account mapped in inventory posting and crediting AP summary account.
b) Vendor invoice journal: We can use this if we want to debit expenses directly to main account.
Thanks,
Prem
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