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General Posting Setup - Received Not Vouched

  • 1.  General Posting Setup - Received Not Vouched

    Posted 21 days ago
    Edited by Nathan Romney 21 days ago
    Hi.  I'm looking for some quick guidance on the General Posting Setup for a vouchers payable (received not vouched) process/account structure.

    As is typical in accounting, in the event we receive an item into inventory prior to receiving the Vendor Invoice, the inventory asset account is debited with the value of the items received and the balancing credit is posted to a Vouchers Payable (Received Not Vouched) liability account.  Later upon receiving the Vendor Invoice the invoice is entered (using the "get receipt lines" function) and the posting debits Vouchers Payable (Received Not Vouched) and credits Accounts Payable.

    I know this is a standard process, but I'm having a hard time figuring out where in the General Posting Setup matrix I'm supposed to put the Vouchers Payable account number for both the receiving action and the invoicing action.  The General Posting Setup column headers do not appear to be very intuitive.  Is there an outline somewhere that shows each accounting transaction's posting map of the General Posting Setup?

    Also, is there a setting that needs to be turned on to have the purchase receipt post to the G/L at the time of the receipt?  When I navigate to the entries on the Purchase Receipt is appears that it is just hitting the Value and Item Entry tables and not posting to the G/L.

    Any thoughts/guidance is greatly appreciated!

    Thanks,
    Nate

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    Nathan Romney
    CFO
    Martori Farms
    Scottsdale AZ
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  • 2.  RE: General Posting Setup - Received Not Vouched

    TOP CONTRIBUTOR
    Posted 21 days ago
    Nathan,

    The field you are looking for in the Gen Posting Setup is Invt. Accrual Acc. (Interim). It handles the Vouchers Payable portion of both the receipt and Purchase Invoice posting.


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    Amanda Mayer
    New View Strategies
    Milwaukee WI
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  • 3.  RE: General Posting Setup - Received Not Vouched

    TOP CONTRIBUTOR
    Posted 20 days ago
    Nathan, Amanda is correct for the account number. You also asked about a setting to turn on the posting of the receipt accrual and that exists in the Inventory Setup, the field for Expected Cost Posting. When that boxed is checked, receipt accruals will be generated.

    ------------------------------
    Kim Dallefeld
    Kim@Dallefeld.com
    Dallefeld Consulting, LLC
    Member of Dynamics Consulting Group
    Ft. Worth, TX
    2019 NAVUG Board of Advisors
    Past NAVUG Board Chairman
    NAVUG Programming Committee
    ------------------------------



  • 4.  RE: General Posting Setup - Received Not Vouched

    TOP CONTRIBUTOR
    Posted 20 days ago
    Ah, @Kim Dallefeld, I totally missed that question! I would add that if you are turning on Expected Cost and you already have transactions mid-stream (i.e. Received Not Invoiced), do the research to determine the lines that are affected so that you can verify all entries clear out correctly. This can be especially tricky if you previously had it turned on and turned it off.​

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    Amanda Mayer
    New View Strategies
    Milwaukee WI
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  • 5.  RE: General Posting Setup - Received Not Vouched

    Posted 20 days ago
    That's great!  Exactly what I was looking for.  Thanks so much!

    ------------------------------
    Nathan Romney
    CFO
    Martori Farms
    Scottsdale AZ
    ------------------------------



  • 6.  RE: General Posting Setup - Received Not Vouched

    TOP CONTRIBUTOR
    Posted 20 days ago
    Nathan,

    Kim and Amada's advice is correct. But based on your original question, I believe you were looking for the following transaction flow

    Dr. Regular Inventory
    Cr. Uninvoiced AP

    then upon receipt of invoice

    Dr Uninvoiced AP
    CR Regular AP

    NAV posts differently ( due to the addon nature of Expected cost posting)

    Receipt

    Dr. Interim Inventory
    Cr Uninvoiced AP

    When Receipt is posted

    NAV first posts the reversal of the receipt

    Dr Uninvoiced Receipts
    Cr Interim Inventory

    then

    posts the invoice

    Dr Regular Inventory
    Cr  Purchase Invoiced Applied( a Clearing account that exists for some reason)
    Dr  Purchase Invoices Applied
    Cr Accounts Payable
    Dr/Cr PPV Variances ( if using standard cost)

    In dealing with Expected cost and the General Posting setup understanding this flow is very important.

    And heed Amanda's warning ,    it is a decent sized project to turn Expected Cost on midstream.








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    Michael Carr
    VP , Finance
    Philadelphia Scientific LLC
    Montgomeryville PA
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  • 7.  RE: General Posting Setup - Received Not Vouched

    Posted 19 days ago
    Thank you Michael for the clarification on the transaction accounting.  Is there a best practices as to which G/L account to use for the Purchase Invoice Applied clearing, and what is the name of the General Posting Setup column header that is for the Purchase Invoice Applied posting?

    ------------------------------
    Nathan Romney
    CFO
    Martori Farms
    Scottsdale AZ
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  • 8.  RE: General Posting Setup - Received Not Vouched

    TOP CONTRIBUTOR
    Posted 19 days ago
    I would suggest that you review the Bob Bergman (RIP) webinar located at https://msdynamicsworld.com/webcast/dynamics-nav/cost-accounting-manufacturing-microsoft-dynamics-nav-strategies-success for a fuller explanation.   The two columns in general Posting setup are Direct Cost Applied and Purchase invoice.

    Best Practices says to have each post to a separate consecutive accounts so you can easily spot any imbalances. I forget which is for which to be honest.

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    Michael Carr
    VP , Finance
    Philadelphia Scientific LLC
    Montgomeryville PA
    ------------------------------