Our company is heavily dependent upon the Purchasing module for Accounts Payable purchases and I like that there is a record of an expected invoice, and we can also control when the expense is recognized in the GL through PO receipts.
We also currently utilize a purchasing card (p-card) program through our bank that allows cardholders to reconcile charges in the program, record project information, and even PO numbers if they apply. The P-card program then will spit out a GL entry that can be pasted into SL Journal Entry to record the transactions. Obviously projects are hit, but POs are verified in Excel outside the system.
Our problem is there is no link between the PO receipt and the entry referencing a PO meaning we have to check for correct receipt amounts separately (we've automated this a bit) but more importantly the unvouchered receipts report becomes totally useless as those receipts will never get closed out in the traditional sense.
I recently ran into an issue where I see three PO receipts hitting the GL activity but I can't find anywhere those PO numbers were referenced in our monthly p-card entries.
My challenge is to get both benefits of having the control of a PO and Po receipt but being able to pay via p-card for the financial benefits. Is there any functionality third party or otherwise that could allow us to link bulk transactions such as a P-card entry with PO receipts so they are getting closed out properly?
Thanks,
-Jon
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