Receiving Items without PO posting incorrectly

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Receiving Items without PO posting incorrectly

Solution This the first time we have received items without PO and to our surprise the posting is wrong.

Debit to: Inventory Credit to: Bank Account -it is wrong.

It should be credit the Vendor and GL AP.

The transaction was done as follows: Payables-Purchasing-Receive without PO- Vendor Name-Item Code-Qty.

If you would like to have a payable bill created when you purchase something from a vendor, then you need to create a PO, receive it and then do Payables -> Purchasing -> Completed PO to AP. This will create credit entries in your AP GL account.

Receiving without a PO does not create entries in the AP GL account. AP GL account entries are only created when adding Vendor Bills (Payables -> Vendor Bills -> New Bill or through the Completed PO to AP process).

You can change the credit account after you receive without PO in Ledger -> Journal Entries -> Edit Journal Entries.

Your best bet if you want AP tracking is to create POs, receive and then convert to AP bills.

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Article details

Article ID:	23
Category:	Payables
Date added:	2010-02-10 11:57:09
Views:	228
Rating (Votes):	(0)

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