Purchase Clearing Account

[3155]

My PO module has to be integrated with my GL module, however I do not want anything going into the purchase clearing account when goods are received. I don't want to use this account at all.

When I receive the invoice through PO module, then I want the expenses to be allocated accordingly at that time only. How do I change this?

 

[IBPIT]

If you are posting noninventory items, nothing posts in PO until the invoice is posted. If you are using inventory, the only way I know to make this happen, is to get an enhancement written.

 

[BeRight]

Well - Thanks but we are using inventory.
Bummer!

Beth

 

[IBPIT]

You could wait until you receive the invoice to post the receiving. Otherwise, where would you post the other side of your receipt?

Debit Inventory, Credit ????

 

[BeRight]

I don't want anything to debit or credit with just the receipt of the goods. I want the expense accounts to debit and the liability account to credit only when the invoice is received. I guess to get what I want I would have to un-integrate PO w/ GL and run the invoices striaght through AP then. right?

 

[IBPIT]

Sounds like a real data entry and reconciliation nightmare. Why do you have such an aversion to using the purchases clearing account? As long as it is reconciled monthly, it can provide helpful information.

 

[BeRight]

Reconciling it is my problem. I don't exactly know how to go about it easily and end up doing a reversing journal entry every month just for statment purposes.

 

[IBPIT]

You can e-mail me directly if you would like some more information on this reconciliation.

It is a nightmare initially, but once you have a procedure, it SHOULD flow pretty easily.

kodell@installed.net