Purchase Receipt posting to closed period

We have a problem with the invoice matching activity in the system in regards 
to closed G/L periods.

For example: 

- The receiving is done in period 2 (February) 
- Two weeks later the supplier invoice comes in with a different cost, it is 
now period 3 (March). Period 2 is now closed
The system will flag these transactions and prevent the posting because the 
period is closed but will "place" them in the master posting with the date 
from the previous period.

So it is smart enough to identify that the period is closed but dumb enough 
to generate the transactions with that date just the same.

The problem is further complicated since the inventory received in period 2 
has been used up by the time the supplier invoice comes in and the system 
generates adjustment entries for the difference in cost in the closed period 
as well. 

My question is, can we retain the flexibility of using batches to post our 
transactions and prevent the system from generating entries in closed periods?

0
Utf
3/18/2010 3:01:01 PM
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What version of GP are you using?

You invoice matching transaction should be entered with a period 3 date and 
should post in period 3.  The inventory receipt in period 2 should have 
debited inventory and credited Receiving Accrual.  The invoice matching 
should debit Receiving Accrual (in period 3) and credit AP.  The change in 
cost should post to purchase price variance (PPV).

This has been working well for all of my customers.  Are you back dating the 
invoice?  I am going to bet that you are holding a period 2 batch and not 
posting that until the invoice arrives.  You should not do this and should 
put the period 3 voucher in a period 3 batch.

Also, exactly the issue you stated (the inventory is used before the 
adjustment arrives) causes me to tell my customers NOT to have the system 
adjust inventory for cost variances put to post the cost variances to a PPV 
account.  At the end of the month, reclass PPV to cost of goods sold (I have 
some customers that move a percentage of PPV to COGS based on the asumption 
that some inventory is still in-house)
-- 
Richard L. Whaley
Author / Consultant / MVP 2006-2008
Documentation for Software Users

Get our Free Tips and Tricks Newsletter and check out our books at 
http://www.AccoladePublications.com



"Claude Garceau" wrote:

> We have a problem with the invoice matching activity in the system in regards 
> to closed G/L periods.
> 
> For example: 
> 
> - The receiving is done in period 2 (February) 
> - Two weeks later the supplier invoice comes in with a different cost, it is 
> now period 3 (March). Period 2 is now closed
> The system will flag these transactions and prevent the posting because the 
> period is closed but will "place" them in the master posting with the date 
> from the previous period.
> 
> So it is smart enough to identify that the period is closed but dumb enough 
> to generate the transactions with that date just the same.
> 
> The problem is further complicated since the inventory received in period 2 
> has been used up by the time the supplier invoice comes in and the system 
> generates adjustment entries for the difference in cost in the closed period 
> as well. 
> 
> My question is, can we retain the flexibility of using batches to post our 
> transactions and prevent the system from generating entries in closed periods?
> 
0
Utf
3/18/2010 3:55:03 PM
Thanks Richerd,

We are currently using version 10, and no we are not holding on to receiving 
batches and they are not back dating invoices and yet the system keeps 
adjusting in closed preiods.

"Richard Whaley -- MVP 2006-2008" wrote:

> What version of GP are you using?
> 
> You invoice matching transaction should be entered with a period 3 date and 
> should post in period 3.  The inventory receipt in period 2 should have 
> debited inventory and credited Receiving Accrual.  The invoice matching 
> should debit Receiving Accrual (in period 3) and credit AP.  The change in 
> cost should post to purchase price variance (PPV).
> 
> This has been working well for all of my customers.  Are you back dating the 
> invoice?  I am going to bet that you are holding a period 2 batch and not 
> posting that until the invoice arrives.  You should not do this and should 
> put the period 3 voucher in a period 3 batch.
> 
> Also, exactly the issue you stated (the inventory is used before the 
> adjustment arrives) causes me to tell my customers NOT to have the system 
> adjust inventory for cost variances put to post the cost variances to a PPV 
> account.  At the end of the month, reclass PPV to cost of goods sold (I have 
> some customers that move a percentage of PPV to COGS based on the asumption 
> that some inventory is still in-house)
> -- 
> Richard L. Whaley
> Author / Consultant / MVP 2006-2008
> Documentation for Software Users
> 
> Get our Free Tips and Tricks Newsletter and check out our books at 
> http://www.AccoladePublications.com
> 
> 
> 
> "Claude Garceau" wrote:
> 
> > We have a problem with the invoice matching activity in the system in regards 
> > to closed G/L periods.
> > 
> > For example: 
> > 
> > - The receiving is done in period 2 (February) 
> > - Two weeks later the supplier invoice comes in with a different cost, it is 
> > now period 3 (March). Period 2 is now closed
> > The system will flag these transactions and prevent the posting because the 
> > period is closed but will "place" them in the master posting with the date 
> > from the previous period.
> > 
> > So it is smart enough to identify that the period is closed but dumb enough 
> > to generate the transactions with that date just the same.
> > 
> > The problem is further complicated since the inventory received in period 2 
> > has been used up by the time the supplier invoice comes in and the system 
> > generates adjustment entries for the difference in cost in the closed period 
> > as well. 
> > 
> > My question is, can we retain the flexibility of using batches to post our 
> > transactions and prevent the system from generating entries in closed periods?
> > 
0
Utf
3/18/2010 4:00:01 PM
In the Item Class Setup for your classes, is the Revalue Inventory for Cost 
Variance checked?  That may be doing this.  I always recommend this NOT be 
checked since the items can be sold/used before the invoice arrives and thus 
CANNOT be adjusted as they are gone.
-- 
Richard L. Whaley
Author / Consultant / MVP 2006-2008
Documentation for Software Users

Get our Free Tips and Tricks Newsletter and check out our books at 
http://www.AccoladePublications.com



"Claude Garceau" wrote:

> Thanks Richerd,
> 
> We are currently using version 10, and no we are not holding on to receiving 
> batches and they are not back dating invoices and yet the system keeps 
> adjusting in closed preiods.
> 
> "Richard Whaley -- MVP 2006-2008" wrote:
> 
> > What version of GP are you using?
> > 
> > You invoice matching transaction should be entered with a period 3 date and 
> > should post in period 3.  The inventory receipt in period 2 should have 
> > debited inventory and credited Receiving Accrual.  The invoice matching 
> > should debit Receiving Accrual (in period 3) and credit AP.  The change in 
> > cost should post to purchase price variance (PPV).
> > 
> > This has been working well for all of my customers.  Are you back dating the 
> > invoice?  I am going to bet that you are holding a period 2 batch and not 
> > posting that until the invoice arrives.  You should not do this and should 
> > put the period 3 voucher in a period 3 batch.
> > 
> > Also, exactly the issue you stated (the inventory is used before the 
> > adjustment arrives) causes me to tell my customers NOT to have the system 
> > adjust inventory for cost variances put to post the cost variances to a PPV 
> > account.  At the end of the month, reclass PPV to cost of goods sold (I have 
> > some customers that move a percentage of PPV to COGS based on the asumption 
> > that some inventory is still in-house)
> > -- 
> > Richard L. Whaley
> > Author / Consultant / MVP 2006-2008
> > Documentation for Software Users
> > 
> > Get our Free Tips and Tricks Newsletter and check out our books at 
> > http://www.AccoladePublications.com
> > 
> > 
> > 
> > "Claude Garceau" wrote:
> > 
> > > We have a problem with the invoice matching activity in the system in regards 
> > > to closed G/L periods.
> > > 
> > > For example: 
> > > 
> > > - The receiving is done in period 2 (February) 
> > > - Two weeks later the supplier invoice comes in with a different cost, it is 
> > > now period 3 (March). Period 2 is now closed
> > > The system will flag these transactions and prevent the posting because the 
> > > period is closed but will "place" them in the master posting with the date 
> > > from the previous period.
> > > 
> > > So it is smart enough to identify that the period is closed but dumb enough 
> > > to generate the transactions with that date just the same.
> > > 
> > > The problem is further complicated since the inventory received in period 2 
> > > has been used up by the time the supplier invoice comes in and the system 
> > > generates adjustment entries for the difference in cost in the closed period 
> > > as well. 
> > > 
> > > My question is, can we retain the flexibility of using batches to post our 
> > > transactions and prevent the system from generating entries in closed periods?
> > > 
0
Utf
3/18/2010 5:17:02 PM
Bingo, that is where it is coming from, many thanks for your help.

"Richard Whaley -- MVP 2006-2008" wrote:

> In the Item Class Setup for your classes, is the Revalue Inventory for Cost 
> Variance checked?  That may be doing this.  I always recommend this NOT be 
> checked since the items can be sold/used before the invoice arrives and thus 
> CANNOT be adjusted as they are gone.
> -- 
> Richard L. Whaley
> Author / Consultant / MVP 2006-2008
> Documentation for Software Users
> 
> Get our Free Tips and Tricks Newsletter and check out our books at 
> http://www.AccoladePublications.com
> 
> 
> 
> "Claude Garceau" wrote:
> 
> > Thanks Richerd,
> > 
> > We are currently using version 10, and no we are not holding on to receiving 
> > batches and they are not back dating invoices and yet the system keeps 
> > adjusting in closed preiods.
> > 
> > "Richard Whaley -- MVP 2006-2008" wrote:
> > 
> > > What version of GP are you using?
> > > 
> > > You invoice matching transaction should be entered with a period 3 date and 
> > > should post in period 3.  The inventory receipt in period 2 should have 
> > > debited inventory and credited Receiving Accrual.  The invoice matching 
> > > should debit Receiving Accrual (in period 3) and credit AP.  The change in 
> > > cost should post to purchase price variance (PPV).
> > > 
> > > This has been working well for all of my customers.  Are you back dating the 
> > > invoice?  I am going to bet that you are holding a period 2 batch and not 
> > > posting that until the invoice arrives.  You should not do this and should 
> > > put the period 3 voucher in a period 3 batch.
> > > 
> > > Also, exactly the issue you stated (the inventory is used before the 
> > > adjustment arrives) causes me to tell my customers NOT to have the system 
> > > adjust inventory for cost variances put to post the cost variances to a PPV 
> > > account.  At the end of the month, reclass PPV to cost of goods sold (I have 
> > > some customers that move a percentage of PPV to COGS based on the asumption 
> > > that some inventory is still in-house)
> > > -- 
> > > Richard L. Whaley
> > > Author / Consultant / MVP 2006-2008
> > > Documentation for Software Users
> > > 
> > > Get our Free Tips and Tricks Newsletter and check out our books at 
> > > http://www.AccoladePublications.com
> > > 
> > > 
> > > 
> > > "Claude Garceau" wrote:
> > > 
> > > > We have a problem with the invoice matching activity in the system in regards 
> > > > to closed G/L periods.
> > > > 
> > > > For example: 
> > > > 
> > > > - The receiving is done in period 2 (February) 
> > > > - Two weeks later the supplier invoice comes in with a different cost, it is 
> > > > now period 3 (March). Period 2 is now closed
> > > > The system will flag these transactions and prevent the posting because the 
> > > > period is closed but will "place" them in the master posting with the date 
> > > > from the previous period.
> > > > 
> > > > So it is smart enough to identify that the period is closed but dumb enough 
> > > > to generate the transactions with that date just the same.
> > > > 
> > > > The problem is further complicated since the inventory received in period 2 
> > > > has been used up by the time the supplier invoice comes in and the system 
> > > > generates adjustment entries for the difference in cost in the closed period 
> > > > as well. 
> > > > 
> > > > My question is, can we retain the flexibility of using batches to post our 
> > > > transactions and prevent the system from generating entries in closed periods?
> > > > 
0
Utf
3/19/2010 2:43:02 PM
Reply:

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