Charge (Item) function usage via Purchase Credit note document

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Posted on by Leisa Howell

We received an Invoice with 5 items.

Later on, we received a credit note for 1 item where vendor proposed rate change- reducing original value to a reduced value - say original value was 10$ per unit, and new value is 8$ per unit - reduction of 2$ per unit.

We posted a Credit note via Charge Item feature where we wanted to post reduction in Invoice value by 2$ per unit and payable to vendor as well.

The vendor ledger entry effect and respective purchase GL effect went well impacting 2$ everywhere, but the cost at Purchase Receipt level of the said item changed from $10 to $ 2 instead of $8!! Thus impacting the "Last Direct Unit Cost" at Item card level and its average cost.

Please advise why this happened and how should I get the right value of item back?

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RE: Charge (Item) function usage via Purchase Credit note document

Leisa,

If you did a Purchase Credit Memo, for Charge(Item), against a Posted Receipt transaction(s), the Value Entries should show a Purchase Credit Memo and the Unit Cost reduced from the original $10 showing a $-2 netting to $8 on that Receipt layer. My CRONUS test show this process. I did not get the same results you did. Can you show pics of the Posted Credit Memo and the Value Entries and the Item in question Value Entries.

Thanks,

Steve