Updating stocks bought by cash 1

[wangui1981]

I want a set up in Accpac that will allow me to receive cash purchased stock which willupdate my stock Account and stock levels.An example; I use petty cash to purchase envelopes.I want my petty cash to reduce while increase my stock levels.How doI achieve this?

 

[ettienne]

Do you keep envelopes in inventory????
Anyway, receive the envelopes as you would any other item, the method of payment is irrelevant at this point. There is no facility to process cash purchases per se.
Assuming you are using AP, IC & PO you would:
1. Receive items in PO: PO Transactions, Receipt Entry - you can enter the invoice number at this point as well.
2. Run IC day end processing.
3. Post AP invoice batch list.
4. Enter cash payment against the AP invoice.

You could enter the cash payment in AP as a prepayment on the vendor, this will auto apply if you use the correct invoice or PO number.

 

[wangui1981]

I think I didn't put it clearly there is no PO involved in this case so I cant receipt through PO.Look at it this way?I purchase my items using cash so no PO is involved.I want to receive the items and reduce my cash balance.

 

[ettienne]

So tell us which Accpac modules you are using instead of keeping us guessing.

 

[wangui1981]

Iam using IC &cashbook

 

[ettienne]

Receive the items in IC Transactions, Receipts.
This will
DR Inventory Control
CR Receipt Clearing

You can then do either a GL JE or a Cashbook entry to
DR Receipt Clearing
CR Petty Cash