Hi,
I have a question about using Item Journal to close Open Item Ledger Entries.
https://msdn.microsoft.com/en-us/library/hh168146(v=nav.90).aspx
I can close positive and negative open entries. But for Purchase Receipt Open entries,
Example: Purchase Receipt PR0001; Item No. ABC001; Quantity:100; Invoiced Qty:100. Remaining Qty.:50. Open: True.
How should I close this open ledger entry?
Thanks!
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Hi Allen,
Sure it will affect the item unit cost.
Hi Allen,
when using FIFO the unit cost is based on the calculation of the inventory available (invoiced costs and expected costs) divided by the quantity on hand. So yes, the open purchase would affect Unit Cost.
Hi Robertas,
We use costing method FIFO, will the open purchase receipt Item Ledger Entries affect the Item Unit Cost? Thanks!
Hi Ahmed,
We use costing method FIFO, will the open purchase receipt Item Ledger Entries affect the Item Unit Cost? Thanks!
Hi Allen,
to use Item Journal for 'closing' specific item ledger entries, you can post the negative adjustment and use 'Applies-to Entry' field to define which entry the negative adjustment should close. If you don't define 'Applies-to Entry', then system will chose the open entry based on the Costing Method (FIFO, LIFO).
Hope that helps.
Robertas
Hi Allen C.
The idea of close open item ledger entries is the Outbound Process and Inbound Process (The Plus & Minus).
For a purchase receipt (+) open entries it should be close by (-) Negative Adjustment or Sales Shipment.
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