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Can someone please explain in Microsoft GP what happens when a shipment in the purchasing module is never received/matched with an invoice? Will inventory and AP be overstated??
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Inventory is debited, the Purchase Accruals account is credited during the receiving transaction. If no invoice is ever matched against the Shipment Receipt, then that entry will remain until the PO is manually closed, if it ever is. At that point, the original entry would be reversed,
Until the reason why the item was never invoiced is determined and resolved, my view is that Inventory and AP are not overstated because you did receive goods and there is a payable to a vendor until resolution.
We have seen a number of companies decide not to use the 'matching' functionality and simply receive goods in POP, but then enter the invoices directly in AP. This was done for various reasons that I am not sure I even remember right now, and while this is not how GP was designed and you may lose out on some of the functionality of the POP/AP integration, this should not actually cause any issues if all the GL accounts used for the transactions are correct.
Thank you for the responses.
One of my clients uses the "matching" functionality and I'm afraid they are doing a shipment once the goods have been received and, on occasion, they enter the invoice directly in AP and forget to match it with the shipment. If this occurs, then the shipment would debit inventory and credit the purchase accrual AND the unmatched invoice transaction debits inventory again and credits accrued payables. Is there a report in GP to see if this is happening? Their purchase accrual balance has been increasing during the past year and I'm thinking this is the reason.
Please let me know your thoughts when you get a chance.
Yes, have them look at the RNI (Received not Invoiced) SmartList under Purchasing>>Receiving Transactions. This list shows all receipts that have not been matched to invoices.
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