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Hi,
We received items on a purchase order for say $1,000,000. For some reason the invoice for the same items was captured with an invoice discount of $0.10 so the invoice amount was $999,999.90.
The impact is that we have an expected for of $1,000,000 and an actual cost of $999,999.90.
Is there a way to neutralise the difference?
Expected cost posting to GL is switched off.
We do review our expected costs (even though it is not part of the GL) when we look at inventory valuation.
Thanks
Have you run cost adjustment before you run the inventory value report?
If the PO is invoiced and you have run cost adjustment the inventory value report should not show any expected cost that you have to consider - i belive.
Hi, I agree with KTA, this is not a problem.
Just because the amount of receipts and actual invoices can be different, the system has prepared two fields, Expected and Actual.
When you post receipt, the amount will go to Expected first. When invoicing, the Expected amount will be all cleared, and the amount will be transferred to Actual (It can be the same or different.). And this amount should be the same as in GL.
Hope this helps as well.
Thanks.
ZHU
Hi,
Here is an excerpt from the value enries.
An excerpt from the invoice is below. You will see the 0.13 invoice discount is causing the problem.
The issue it is causing is with our inventory valuation when including expected costs is showing up as below.
If you've invoced the total of the purchase, the behaviour shouldn't be like that. Values entry should be like this -> example: PO -> expected: +$1,000,000, invoice -> expected -$1,000.000, actual cost $999,999.90
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