PO Receipt and Invoice cost differences

[molefen]

We are using Accpac 5.5 for procurement of inventory items. When the Po invoice costs differs with the PO Receipts costs, Accpac Debits/Credits these differenve to the stock/inventory GL account. How can we set it to use a different account instead?

As work around, for upward price changes, we capture the price difference as an additional cost and this works fine. But I have no idea how to go about in the case of a downward price difference. Yep, -ve values don't work. I tried capturing this as a discount on the PO invoice, but it still Credits the discout to the Inventory account. Am I the only one with this kind of requirment????

 

[DjangMan]

If there is a difference in the cost of the inventory that you are being invoiced for then that typically is included with cost of inventory. Two exceptions come to mind:

If you have less quantity on hand than you are being invoiced for then some or all of that extra cost should go to cost of goods sold. Accpac doesn't do that by itself, unfortunately.

The other time is in manufacturing where you might use Standard costing and record the variances in cost to another GL account.

One option is to create a tax with a negative tax rate. It's a bit of a stretch but would work.

 

[molefen]

Hi DjangMan,

Our scenario is actually is actually your second - manufacturing with standard costing.

I will explore the use of negative tax on this. Thanx for that