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PO Receipt

This section details the hierarchy followed by Greentree Desktop when posting the debit and credit transactions for a purchase order receipt transaction for an inventory line.

To clarify the hierarchy outlined below, use the example of an inventory line with a value of:

$100.00

[Net value]

$12.50

[Tax value] * This is ignored for a PO Receipt transaction

$10.00

[Additional charge value - if received using PO Shipment]

$5.00

[Overhead value - relevant only if Import Costing is in use]

Debit [+$100 + $10 + $5]

StockItem.stockAccount

(Inventory Account)

StockItem.myINAnalysisCode.stockAccount

Location.stockAccount

Warehouse.stockAccount

GLControl.stockAccount

GLControl.suspense

Credit [-$100]

Supplier.myPOClearingAccount

(Stock Supplier Clearing A/c)

GLControl.myClearingAccount MyBranch.glAccountStructure

GLControl.Suspense

Credit [-$10]

NSPurchaseCode:poRecoveryAccount

(Add'l Charge Recovery A/c)

GLControl.Suspense

Credit [-$5]

GLControl.myOverheadAccount

(Overhead Recovery A/c)

GLControl.myClearingAccount

GLControl.Suspense

The Debit account will differ depending on the PO line type. This applies:

NS/GL line - debits the GL Expense account;
JC line - debits the Job WIP account;
FA line - debits the FA cost account.

Information

For inventory lines, if Greentree costing method is standard cost (set in IN Module Control), and there is a variance between the actual purchase cost and the item's standard cost, the Cost of Purchase Variance Account specified in General Ledger Module Control will be updated with the value of the variance (StockItem:stockAccount will be debited with the standard cost value, Supplier:myPOClearingAccount will be credited with the actual cost, and the variance posts to the Cost of Purchase Variance Account).

If the line being received is an indented item, and the PO Module Control option Indent items use PO receipt cost is selected, then any variance between the received (actual) cost and the item's system cost (for example, average, standard) posts to the COS Variance Account specified in General Ledger Module Control.

Inventory to Job Receipts

If the inventory item on the transaction line is allocated to a job (where the Job Cost module is in use), an additional transaction will be created and posted to the general ledger, which transfers the cost from the stock account to the job account:

Credit [$115]

StockItem.stockAccount

(Stock Account)

StockItem.myINAnalysisCode.stockAccount

Location.stockAccount

Warehouse.stockAccount

GLControl.stockAccount

GLControl.suspense

Debit [Cost value]

JCActivityCode.debitAccount

(JC Activity Code DR Account)

MyJob.myProfitCentre.glAccount

GLControl.suspense

The cost value used for this transaction will be dependent on the PO Module Control option Use receipt cost for JC linked items. Either the item's system cost is used, or the actual received cost (where the option is set to true). If the cost is used, any variance between the item's system cost (for example, average, standard) and the receipt cost will be posted to the COS Variance Account specified in GL Module Control.

Information

If the subsequent AP Invoice results in a PO variance for a line where inventory is being allocated to a job, the invoice cost differs from the cost of the item), Greentree may also generate a JC GL Cost Adjustment transaction using Greentree defined JCPOAdj transaction type. This transfers the variance value to the job.

The tax amount is ignored for a PO Receipt transaction.