Deleting the receipt would create a reversing entry in the G/L and then
you can go back and fix the PO Expense account. Then re-receive the
item. However if you invoice the receipt, you are stuck with a journal
entry.
Charlie Smith
Smith Business Services / 2W Technologies LLC
www.vistaconsultant.com <http://www.vistaconsultant.com/> /
www.2WTech.com
From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf
Of ramsey_burns
Sent: Tuesday, October 06, 2009 5:25 PM
To: vantage@yahoogroups.com
Subject: [Vantage] Re: Can't allocate G/L after turning on inventory
interface
Ok I think it's starting to click in my somewhat slow mind. If the
purchased part has no GL assigned on the part record/part class, it's
going to be automatically debited to inventory which will then flow to
cos-material eventually. If I have a GL expense account (e.g. Office
Supplies) assigned to the part then it will debit that account, credit
PO clearing, then goes to AP when invoice is made then eventually out as
cash.
Assuming I've got that straight, whit if wrong account is hit upon
receipt, how to reverse it? Would I have to delete the receipt?
Many thanks,
-Ramsey
--- In vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com> ,
"CharlieSmith" <CSmith@...> wrote:
Behalf
you can go back and fix the PO Expense account. Then re-receive the
item. However if you invoice the receipt, you are stuck with a journal
entry.
Charlie Smith
Smith Business Services / 2W Technologies LLC
www.vistaconsultant.com <http://www.vistaconsultant.com/> /
www.2WTech.com
From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf
Of ramsey_burns
Sent: Tuesday, October 06, 2009 5:25 PM
To: vantage@yahoogroups.com
Subject: [Vantage] Re: Can't allocate G/L after turning on inventory
interface
Ok I think it's starting to click in my somewhat slow mind. If the
purchased part has no GL assigned on the part record/part class, it's
going to be automatically debited to inventory which will then flow to
cos-material eventually. If I have a GL expense account (e.g. Office
Supplies) assigned to the part then it will debit that account, credit
PO clearing, then goes to AP when invoice is made then eventually out as
cash.
Assuming I've got that straight, whit if wrong account is hit upon
receipt, how to reverse it? Would I have to delete the receipt?
Many thanks,
-Ramsey
--- In vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com> ,
"CharlieSmith" <CSmith@...> wrote:
>been
> The reason for that is when you flipped the switch, all PO receipts
> create a G/L entry from the Expense Account to the Clearing Account.
> This holds the Received but not invoiced dollars. The invoice has to
> offset those dollars in the clearing account because it has already
> allocated to the expense account when it was received.[mailto:vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com> ] On
>
>
>
>
>
> Charlie Smith
>
> Smith Business Services / 2W Technologies LLC
>
> www.vistaconsultant.com <http://www.vistaconsultant.com/> /
> www.2WTech.com
>
>
>
>
>
>
>
>
>
> From: vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com>
Behalf
> Of ramsey_burnsand
> Sent: Tuesday, October 06, 2009 2:42 PM
> To: vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com>
> Subject: [Vantage] Can't allocate G/L after turning on inventory
> interface
>
>
>
>
>
> Hi All,
>
> We just turned on the inventory interface and now we can't allocate to
> G/L accounts the way we did before which was to assign the account for
> each line when entering the AP invoice. After making AP Invoice/New
> Reciept Line/ I can go to GL Allocation tab there is a line already
> entered for my purchase order clearing account which i can't modify
> can't enter a new line (actually I can but it's greyed out and can'tbe
> modified). The help file is ambiguous about this but support says they[Non-text portions of this message have been removed]
> can add a new line for allocation or press the allocate button (greyed
> out for me). They are doing this on 408 though and I'm on .407. Any
> guidance much appreciated.
>
> -Ramsey
> ramsey@... <mailto:ramsey%40alldoneit.com>
>
>
>
>
>
> [Non-text portions of this message have been removed]
>