3,518
hello to all,
i am using nav 2016. i want to know the process to take service from vendor on company's item .
ex : i have 2 products : cap and bottle box
i give it to my vendor and purchase service on it . (as like threading)
now i want to use it as fixed asset and also want to reduce it from inventory quantity .
i will wait for your suggestions .
Thankyou :)
*This post is locked for comments
I don't think you need to do anything with your original items to apply service. If I understand correctly you will receive a purchase invoice from the vendor, that you just need to post to the GL (standard Purchase Invoice, with Lines set to Type = 'G/L Account') - costs will balance with the FA Acquisition Cost.
Robertas
Hi Robertas,
Thanks for response
and one more thing how to give purchase service for both items ?can u explain the process ?
Hi
unless there is a country specific localisation for this (which I doubt), this process involves a few manual transactions.
1. You probably want to move items to a different location (let's call it PROCESS) when you 'give it to vendor', so it's not in your main warehouse anymore, and you can have specific setup for writing items off.
2. When item(s) are returned from vendor, you would need to create a fixed asset card and post the acquisition value (although this can be done later after the service invoice is received). This can be done using suspense GL account to balance (your purchase invoice for services will have to be posted to the same GL account).
3. Then you need to post the negative adjustment of your items from the PROCESS location
4. When you receive the service invoice the cost of FA might be adjusted using FA journals or posted at that particular time.
And you're done.
What you need to be aware are costs. Posting in step 2 and 3 have to balance out using correct setup. That is, when you write-off items from location PROCESS, the negative balance goes out of stock, and the positive has to go to specific GL (let's call it X). When you post the purchase invoice for service, post it to the same GL X. When balancing acquisition cost of the FA, use GL X and amount as 'costs of items + cost of service'. After this your GL X is balanced to zero, stock reduced by the cost of items, and FA acquisition cost is posted to GL as the sum of both.
Hope that makes sense.
Robertas
Stay up to date on forum activity by subscribing. You can also customize your in-app and email Notification settings across all subscriptions.
#1
André Arnaud de Cal...
291,280
Super User 2024 Season 2
#2
Martin Dráb
230,214
Most Valuable Professional
#3
nmaenpaa
101,156
Share
Report
All responses (
Answers (