Overview:
The Purchase Order Receipt window allows you to record the receipt of materials ordered through the Purchase Order module.
When you post a Purchase Order Receipt batch and distribute the receipts, PENTA:
- Updates the receipt history for 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 orders.
- Generates the appropriate accounting entries for inventory receipts as well as receipts of inventory directly to job cost.
- Makes the following accounting entries during the receipt distribution process:
- Inventory
Debit: Inventory Account
Credit: Purchase Order Receipt Accrual
- Non-Inventory (Accounting entries are only made if your environment is configured to accrue cost during the PO receipt distribution process)
Debit: Job Cost Account
Credit: Receipt Liability Account
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: