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Hi All Whenever we receive (packing slip or GRN) a Stocked item which has post physical inventory, post financial inventory check marked.
following entries are suppose to happen
1)
Purchase expenditure uninvoiced Dr
Purchase accrual Cr
2)
Product receipt Dr
Purchase expenditure uninvoiced Cr
but in my system as soon as i receive the item, i'm getting transaction (1) (accrual entry) only transaction (2) do not appear I have checked AP parameters, and check marked post receipts to ledger. is there something missing? what could be the issue?
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Now i'm able to get correct journal entries after i unchecked the fixed price check option in Item model group.
Thanks for helping
let me try and check that,
its a UAT system.
thanks
Try in a different system with the same settings. Create the item and model group manually
Is your current system a live one? Has it ever worked? Do all systems perform the same?
Yes
That is fine
Item Model Group - Accrue liability on product receipt is ticked?
There is one entry,
Company (rule type)
All (source document type)
Synchronous (Transfer mode)
No (summarizing account entries)
this is the set up for batch transfer rule all is instantly transferred
General Ledger Parameters - Batch Transfer Rules.
How is this configured - you can get the purchase order to sit in the sub-ledger until you run the batch transfer to push the transactions into the general ledger.
Yes its a stocked product
post physical inventory
post financial inventory
both are check marked
i did not understand your question, subsidary accounts?
its a simple PO no customisation
Is post physical inventory ticked in the item model group?
Is it a stocked product in the item model group?
Are you posting to subsidiary ledgers?
In AP parameters --> updates--> post product receipts in ledger.
yes I check marked it and then created a PO and received it
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