Issue/Symptom/Question

The PO Receipt Accrual Account has a balance and I don't know what PO's are outstanding to be invoiced or received.

Applies To

Purchase Orders, PO Receipt Accrual

Workbench, PO Purchasing Reporting Center

PENTA for Windows version 21.3 and up

Resolution/Fix/Answer

A new report called PO Receipt Accrual Account Reconciliation report located in the PO Purchasing Reporting Center will show all purchase orders that make up the balance of any PO Receipt Accrual Account.

• This report will show any PO that has an accrual balance or a tax accrual balance.
• A panel parameter exists to hide reconciled purchase orders. This will hide any purchase order where Received Units = Invoiced Units, Received Amount = Invoiced Amount, and Received Amount Tax = Invoiced Amount Tax.
  

Best Practice to Reconcile with PENTA:

1. Open the Account Balance Query screen (Finance and Accounting > Inquiries > Account Balance Query).
2. Enter the date range, OU and Acct # for your PO Receipt Accrual Account. Note - All PO accruals use the OU's Balance Sheet OU.
   1. The report returns POs where the issue date is before the end date. It will only return relevant data that is between those dates (i.e. Committed Date, Received Date, Invoiced Date).
3. In the Workbench go to the PO Purchasing Reporting Center. Update the panel parameters to equal the same date range, Balance Sheet OU and PO Receipt Accrual Account. Also select or deselect the "Hide Reconciled PO's" depending on the results you want to see.
4. Run the PO Receipt Accrual Account Reconciliation report.
5. Group the results by accrual account (if multiple) and balance sheet OU (if multiple). Skip this step if not necessary.
6. This will show you the list of purchase orders that make up the Activity Amount between the two dates. To view purchase orders that make up the ending balance amount if it differs from the activity amount just open up the date range on the report.