After years of using Quickbooks Online I have recently taken a new job using Acumatica. It’s been a learning curve, so many moving parts in Acumatica. Here’s my question: The company I work for receives inventory items that are paid by credit card and there is no PO. How do I enter the inventory and the bill that goes with the items. Thanks for your help.
Best answer by ChandraM
Hi @Jana Below is the option -I to receive the goods and book the Vendor Invoice into Acumatica.
Option I
Create a dummy PO with the items for the Vendor with the received cost
Create PO Receipt for the PO
Create AP Bill
Using the “Create AP Bill” option in the PO Receipts screen and Release the PO Receipt. This is automatically generate the Vendor Bill in the Bills and Adjustments screen (or)
Goto Bills and Adjustments screen, use the ADD PO RECEIPT option , and book the vendor invoice.
Pay the AP bills using the “Checks and Payments” screen
If required to pay by corporate credit card, create a new Payment Method (use a “Liability” Account as Cash Account)
Select the Payment Method on the Checks and Payment screen and Release.
This will Credit the “Credit Card” Liability account
When you pay the credit card bank, you can create a Cash Transaction of type “Disbursements” with appropriate Entry Type with the Same Liability Account used to buy the items to pay the Vendor in step#4.
This will Debit the “Credit Card” Liability account
Hi @Jana Below is the option -I to receive the goods and book the Vendor Invoice into Acumatica.
Option I
Create a dummy PO with the items for the Vendor with the received cost
Create PO Receipt for the PO
Create AP Bill
Using the “Create AP Bill” option in the PO Receipts screen and Release the PO Receipt. This is automatically generate the Vendor Bill in the Bills and Adjustments screen (or)
Goto Bills and Adjustments screen, use the ADD PO RECEIPT option , and book the vendor invoice.
Pay the AP bills using the “Checks and Payments” screen
If required to pay by corporate credit card, create a new Payment Method (use a “Liability” Account as Cash Account)
Select the Payment Method on the Checks and Payment screen and Release.
This will Credit the “Credit Card” Liability account
When you pay the credit card bank, you can create a Cash Transaction of type “Disbursements” with appropriate Entry Type with the Same Liability Account used to buy the items to pay the Vendor in step#4.
This will Debit the “Credit Card” Liability account
Hi @Jana, Below is the Option II to receive the goods into Inventory, and book the Vendor Invoice into Acumatica. I would suggest option I as it has the traceability.
Option II
Create an Inventory Receipt (Using “Receipts” screen under Inventory Module for the Good Received with the Cost into the warehouse
Book the Vendor Bill using the Bills and Adjustments screen for the amount of the Bill. Acumatica allows to enter a Bill without selecting the items, specify the account that needs to be affected, Release the Bill. In this methods
Pay the AP bills using the “Checks and Payments” screen
If required to pay by corporate credit card, create a new Payment Method (use a “Liability” Account as Cash Account)
Select the Payment Method on the Checks and Payment screen and Release.
This will Credit the “Credit Card” Liability account
When you pay the credit card bank, you can create a Cash Transaction of type “Disbursements” with appropriate Entry Type with the Same Liability Account used to buy the items to pay the Vendor in step#4.
This will Debit the “Credit Card” Liability account
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