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AP Document Recognition

  • 23 February 2023
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Hi Team,

Currently, I am testing AP Document Recognition. I need some clarifications regarding the PO invoice. Once the PO and Receipt are posted in the system. By using the Incoming Documents, I am pushing the invoice to the system. Here, my query is related to the inventory price update during the process.

 

Awaiting for your replies.

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Best answer by jsheehan56 23 February 2023, 15:47

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HI Nithya, do you have a specific question regarding pricing, the AP doc recognition process, etc?  Once the AP invoice is processed via Doc recognition, all updates (incl pricing) are per usual, as if the invoice had been entered directly on the invoice/bills form

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Hi Beth,

Yes, whenever the receipt of the PO posted. The inventory will be added in the warehouse as well as the inventory of the cost will be updated. If there is a difference in the price of the inventory in the invoice, how the system will update the cost. I knew that the difference of the cost will be updated in the “Purchase price Variance” GL account.

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AP Doc rec doesn’t really have anything to do with IN Price Updates by itself. 

I think of AP Doc Rec as a ‘Step 0’ in Accounts Payable workflow processing. All it does is attach a document and fill some fields out for you as you progress to the Bills and Adjustments entry screen. 

Answer is on the Pricing tab of your AP Preferences. In the Pricing Tab (see attached) you can dictate what updates Vendor Prices. 

We have tended to use ‘On AP Bill Release’ as our default setting for our client base due to inflationary price increases and some large discrepancies our clients have noticed from suppliers from PO Entry / Quoting to Bill receipt. But this setting can vary database to database. 

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@nithyashankar71 -  Regarding AP doc recognition, it is just a quicker means to read your bills and process them in batch.  Calculating PPV is based on the unit price diff between the PO and AP bill.  When you release (or post) your AP bill, the PPV is accounted for then (see example below)

 

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