Page Comparison

Overview:

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• Updates the receipt history for purchase order line items Purchase Order Line Items and allows for three-way matching to occur (committed, received, and invoiced) when you enter an invoice in the Invoice and Credit Memo Entry window.
• Updates the appropriate warehouse/location for inventory-related purchase ordersPurchase Orders.
• Generates the appropriate accounting entries for inventory receipts as well as receipts of inventory directly to job Job cost.
• Makes the following accounting entries during the receipt distribution process:
  • Inventory

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Credit: Purchase Order Receipt Accrual

• • Non-Inventory (if the system is setup Accounting entries are only made if your environment is configured to accrue cost during the PO receipt Receipt distribution process)

Debit: Job Cost Account (Job Type Information window based on Cost Type and Costcode entered on the Purchase Order cost distribution).

Credit: Receipt Liability Account (System Configuration window).

• Credit Rec. Sales Tax Liability Account (System Configuration window).

Note: If you interfaced Purchase Order Receipt records and System Option 341 (PO Receipts IF-Auto Distrib) is set to N, you can use this window to review your records before distributing them.

Benefits:

• Provides an accurate record of all financial transactions
• Aids in compiling key financial statements
• Provides the ability to authorize general ledger accounts for one, some, or all organizational units
• Provides subledger requirements and ensures the ledger is always in balance with the subledger details

Roles:

• Accounting Manager
• CFO

Additional Content

• Add additional content here as needed
• Example: Video may not cover the details of on us information in the bank account information window. A link to a KCS article should be listed that contains that detailed information that is relevant to this topic

Location:

• Financial & Accounting > Setup > Accounts > Chart of Accounts

Video:Benefits:

• Allows for three-way match to occur (committed, received, invoiced)
• Validates the material received match what was ordered

Roles:

• Warehouse Manager
• Field Supervisor/Foreman
• Purchasing Group

Location:

• Purchasing > Purchase Order Receipts

Video: