Question

Financial Cut Off - Goods in transit

  • 30 March 2021
  • 3 replies
  • 25 views

Userlevel 1
Badge

Hi 

Now we having the below problem. Not sure if anyone can help to solve it or give any suggestion.

For Inbound shipment - We always based on receiving date to book into system instead of invoice date .

The standard entry  as below as per accumatica entry that receiving inventory into system

DR Inventory

CR PO accured

DR PO accured

CR Account Payable.

 

Currently, as our financial cut off date will be on 31 Mar 2021.

Which mean we need to book in the inbound shipment as per invoice date for 31 Mar 2021 instead of receiving date . 

Example: Invoice date : 31 Mar 2021.  ETA factory is 3 April 2021.  Inventory qty : 1000pcs  Value : USD1000

We have to enter above invoice on date 31 Mar 2021 , however the inventory is not yet arrived factory yet so we should part under “Goods in transit “ instead of “ Inventory”

May i know anyone know how to do this kind of transaction ?

 

 


3 replies

Userlevel 1
Badge

You can check the ‘Allow AP Bills Before Receipt’ check box for the vendor, which will allow you to enter AP Bills directly from a purchase order (without having to wait for receipt)

Userlevel 1
Badge

Hi 

Thanks for the email

I go through the vendor , there is no a box for us to selec the “ Allow AP Bill before receipt” Not sure if you are able to screenshot the page?

 

Thank you very much

Userlevel 1
Badge

It is on the Purchase Settings tab, see attached

Reply


About Acumatica ERP system
Acumatica Cloud ERP provides the best business management solution for transforming your company to thrive in the new digital economy. Built on a future-proof platform with open architecture for rapid integrations, scalability, and ease of use, Acumatica delivers unparalleled value to small and midmarket organizations. Connected Business. Delivered.
© 2008 — 2020  Acumatica, Inc. All rights reserved