Hi,
Currently our transactions are setup to post as follows
When posting a purchase invoice for an inventory item
Inventory Accrual 1000
Inventory Interim -1000
COG 1000
COG -1000
Inventory 1000
AP -1000
When posting a purchase invoice for an inventory item using a Prepayment Purchase Order
Prepaid 1000
A/P -1000
When posting a purchase invoice for an inventory item using a Prepayment Purchase order AND checking the box that says "Prepmnt. Inc Tax" the entries are weird (one real example)
COG 3138.61
AP -2773.15
Taxes 470.01
Rounding fees 125.11
Prepaid - 835.47
Prepaid -125.11
We have to make a journal entry to remove the amount from rounding fees and also there shouldn't be a remaining balance in COG, it should be in inventory until we sell it like the other purchase transaction except for the amount that is prepaid.
Any help in figuring out was is going on here or where to look for a setting that is causing this would be appreciated.
Sam
