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Removing difference of expected and actual costs in value entries

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Posted on by Mr Magaba

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

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KTA 1,200 on at

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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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Mr Magaba 10 on at

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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.

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KTA 1,200 on at

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I don't get the problem, looks good for me. Your diference it's shown there.

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Mr Magaba 10 on at

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The question is how to remove the difference, otherwise it will be there forever?

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YUN ZHU 95,681 Super User 2025 Season 2 on at

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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

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Inge M. Bruvik 1,111 Moderator on at

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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.

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