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Hello:
A GP 2016 end user posted a Purchasing Invoice to tie to the Purchasing Receipt. The user does have Landed Costs. For the G/L, this posted two journal entries.
In journal entry 1 with a Source Document of POIVC, there is a debit to Inventory, a debit to Accrued Purchases, and a credit to Accounts Payable. This journal entry's Transaction Reference is "Purchasing Invoice Entry".
In journal entry 2 with a Source Document of GJ, there is a debit to a clearing account and a credit to inventory. This journal entry's Transaction Reference begins with "IVARCT".
The user does have Landed Costs.
Why is the second journal entry being created, and where is the debit account coming from? I have looked in Landed Cost setup windows, Vendor accounts, Item accounts, and Posting Accounts Setup. I cannot find that account anywhere nor do I understand how this journal entry was created.
Thank you!
John
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Hi:
After creating a few SmartLists, I figured this out. The clearing account was used as the Inventory Offset account within an Inventory Adjustment transaction.
A cost variance resulted from the adjustment and posted to the General Ledger.
This is discussed in KB article entitled "An unexpected GLTRX Batch appears in Financial Batch Entry in Microsoft Dynamics GP".
John
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