Hi. We recently had an issue where our purchaser posted a PO with the wrong unit price. He did a return for the PO (receiving & posting negative the exact quantity).
It looked alright until we saw the voucher.
ORIGINAL PO INVOICE VOUCHER
|
| Trade Goods Inventory |
2,727,200.00 |
| Input VAT - Tax Receivable |
409,080.00 |
| Purchase expenditure for product |
0.00 |
| Accounts Payable - Trade Vendors |
-3,136,280.00 |
RETURN PO INVOICE VOUCHER
| Trade Goods Inventory |
-1,069,958.09 |
| Input VAT - Tax Receivable |
-409,080.00 |
| Purchase expenditure for product |
-1,657,241.91 |
| Accounts Payable - Trade Vendors |
3,136,280.00 |
I am trying to understand if we did something wrong while making the return. Part of the original purchase amount has gone to the "Purchase Expenditure for product" account when making the return. What is the reason for this?
Furthermore, the cost price of the item has been affected due to this PO. The actual amount of the transaction should be 2,727.20 instead of 2,727,200. This happened because the guy entered the unit in KG and the price in Metric Tons.
1) Any advice on how to correct the return to remove the entire PO cost on the item? Purchase expenditure must be 0 as well.
2) If the PO return is corrected and the item cost is recalculated, will the correct cost be reflected in inventory transfers and counting journals?
Thanks in advance for your help and support!
