Skip to main content

Notifications

Announcements

No record found.

News and Announcements icon
Dynamics 365 Community / Forums / Finance forum / Different Product rece...
Finance forum
Suggested answer

Different Product receipt accounting entries

(1) ShareShare
ReportReport
Posted on by Karthik Shriramneni 12
Hi,
 
 
While posting product receipt in a company with UK localization, system is journalizing as follows: -
Only 1 Voucher
Cost of purchases material received Dr
Purchase accrual account Cr
 
Whereas in case of India, System is journalizing as follows: -
1st Voucher
Cost of purchases material received Dr
Purchase expenditure un-invoiced Cr
 
2nd Voucher
Purchase expenditure un-invoiced Dr
Purchase accrual account Cr
 
Why this behavior is different, is there any setup by which we can control this ??
 
UK Localization
 
India Localization
Categories:
Financial Management
  • Karthik Shriramneni Profile Picture
    Karthik Shriramneni 12 on at
    Different Product receipt accounting entries
    But MS Docs clearly says there will be two vouchers for product receipt posting. This is global doc not a country specific.
     
    Not only UK , I have seen this behavior in US, Spain, UK etc.  Is there any setup controlling this ??
     
     
  • Suggested answer
    BillurSamdancioglu Profile Picture
    BillurSamdancioglu 13,216 Super User on at
    Different Product receipt accounting entries
    According to localizations, it is possible that posting may vary.
    So it is better if you can read the country specific localizations.
  • Suggested answer
    Community member Profile Picture
    Community member 4 on at
    Different Product receipt accounting entries
    Hi,
     
    Your system's journalizing behavior varies across the UK and India localizations, most likely due to differences in accounting legislation and procedures between the two countries. These variations may have an impact on the way financial statements record and classify transactions.

    The product receipt in the UK seems to be being journalized by your system using a single voucher, which debits the Cost of Purchases/Materials Received account and credits the Purchase Accrual Account. This strategy takes into account the fact that the purchase cost is recognized as soon as the materials are received.

    But in India, it appears that there are two vouchers in a system. The first voucher credits the Purchase Expenditure Un-invoiced account and debits the Cost of Purchases/Materials Received account. This shows that the expense was recognized from the outset even before an invoice was received. After that, the second voucher shows that the accrued expense was transferred to the correct account upon receipt of the invoice by debiting the Purchase Expenditure Un-invoiced account and crediting the Purchase Accrual Account.
     
    Regards,
    Pargunan D
  • Suggested answer
    Kevin Xia Profile Picture
    Kevin Xia Microsoft Employee on at
    Different Product receipt accounting entries
    Hi,
    Laws, regulations or audit requirements vary from country to country, so localized content will be different. If you want to use other certain localization features from other countries, you can only do this by custom development, if you don't have a developer, you can ask Microsoft partners for help, refer to this link: Find the right app | Microsoft AppSource.
    official documents refer to these links:
    Best regards,
    Kevin

Helpful resources

Quick Links

Replay now available! Dynamics 365 Community Call (CRM Edition)

Catch up on the first D365 Community Call held on 7/10

Community Spotlight of the Month

Kudos to Saurav Dhyani!

Congratulations to the June Top 10 community leaders!

These stars go above and beyond . . .

more Community News

Leaderboard

#1
André Arnaud de Calavon Profile Picture

André Arnaud de Cal... 288,584 Super User

#2
Martin Dráb Profile Picture

Martin Dráb 225,864 Super User

#3
nmaenpaa Profile Picture

nmaenpaa 101,148

Leaderboard

Featured topics

Product updates

Dynamics 365 release plans