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Posting Non-Inventory Items in Project Accounting : Dynamics GP 10

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Posted on by Abdo Khoury

14,849

Dear

I am posting a non-inventory purchase to one of my projects, in Project Accounting.

i created a cost category of type Purchase Material , but i did Not check the Inventory Item since i want to use this cost category for that purpose.

then i created my normal project and entered my budget.

Now when i go to do a purchase Order / then receiving using this cost category i get the following transaction :

Debit: COGS

Credit: Contra account

My issue is , my GL Payable account doesn't get affected anywhere during this stage. ALTHOUGH in the Vendor module , the Vendor is updated with my purchase so i have my purchase clearly affecting the module but not the GL.

Am i missing anything in the setup ?

your help is appreciated ,

Best Regards

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Abdo Khoury 14,849 on at

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RE: Posting Non-Inventory Items in Project Accounting : Dynamics GP 10

Well , Initially i set it to the Contract account itself, (BTW the Vendor module is being updated normally...but my issue was on the GL level - the Supplier GL account not being updated) but then when i continued the whole project and finally received a payment from the customer (and applied) then the payment offset the my initial invoice on GL.

As a conclusion , i am going to fill in the contra account with the supplier GL account, that works for me on a functional level but is it practical?
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Frank Hamelly | MVP... 4,029 Super User 2024 Season 2 on at

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RE: Posting Non-Inventory Items in Project Accounting : Dynamics GP 10

What is your Contra Account set to post to? it should be your Accrued Purchases Account. Then when the invoice is matched to the receipt, that will debit Accrued Purchases and credit Accounts Payable.