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Correcting GL Account on Vendor Invoice

  • 1.  Correcting GL Account on Vendor Invoice

    Posted 17 days ago
    Good morning,

    i'm trying to think of an easier way to do this and minimize some steps.

    For any invoices we receive that aren't inventory related our AP team will typically look at the last invoice posted and use the same invoice coding.  This works well until someone makes a mistake.  Our Accountant will do a journal entry to credit the GL account where the invoice was posted in error and debit the correct GL account.  But obviously AP doesn't see that if they're grabbing the coding from the last invoice so it can take a few postings to get sorted out.

    I was thinking that from the vendor we could enter a credit memo with the same invoice number and "-R" at the end and credit the incorrect GL account.  Then enter a new invoice with "-A" at the end and post it to the correct GL account, then apply the credit memo to the corrective invoice.  Admittedly that's a few extra steps and I'm trying to minimize this.

    Since we're currently doing journal entries to manually reclass the AP posting, is there a way that we could do this through a journal entry and if so how would we set that up?

    Or does someone have a better solution they've implemented that might accomplish such a thing given the way our process is?


    Thanks,
    Kelly

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    Kelly Smith
    Plastic Industries
    Nashua NH
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  • 2.  RE: Correcting GL Account on Vendor Invoice

    TOP CONTRIBUTOR
    Posted 17 days ago
    To help reduce the incidents of this happening initially, you may want to consider using Standard Vendor Purchase Codes. This feature is available in later versions (not certain what version you are on.)

    You basically create a template of lines that you can select to insert into a purchase document. If the set needs to be changed, you go to the template and edit.

    Std. Vend Purch Code

    Next you add the template to the vendor from which you regularly purchase. This can be used for recurring invoice templates, adding standard text to orders or invoices, etc.

    Std vend purch code on vendor

    Hopefully you have this feature or will soon if you upgrade. It is very helpful for eliminating or at least minimizing what you are now required to fix.


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    Cynthia Priebe MCP, DCP
    Senior Analyst and Project Manager
    Liberty Grove Software
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  • 3.  RE: Correcting GL Account on Vendor Invoice

    Posted 17 days ago
    Edited by Kelly Smith 17 days ago
    I don't believe that we have those set up, and I can certainly look into that.  We have ten companies set up in NAV 2017 so can I assume that we'd have to set that up in each plant?  If so the work involved with setting these up in each company might be greater than the time spent on reclasses when they happen so setting this up might be a tough sell, and I think I still need to have an alternative way to correct what happens instead of doing journal entries as we're currently doing.

    ------------------------------
    Kelly Smith
    Plastic Industries
    Nashua NH
    ------------------------------



  • 4.  RE: Correcting GL Account on Vendor Invoice

    TOP CONTRIBUTOR
    Posted 17 days ago
    The functionality should be available in version 2017.  You might want to customize you ribbon to make it visible.  As far as updating the records, RapidStart would be a good option to export the current vendors to Excel, update the field in Excel using copy/paste or some other process, then re-import the records back into NAV.  Depending on the number records which need updating, this should take too long.

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    David Wiser
    Project Manager
    Tigunia
    Seattle WA
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  • 5.  RE: Correcting GL Account on Vendor Invoice

    SILVER CONTRIBUTOR
    Posted 16 days ago
    Your credit memo & corrected invoice process is a good idea and creating a paper trail and correct history on the vendor may be worth the extra steps.

    As others have said, Rapidstart should make loading standard codes easy if you go that route.

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    Eric Moe
    Global Supply Chain Manager
    Industrial Revolution
    Tukwila WA
    ------------------------------



  • 6.  RE: Correcting GL Account on Vendor Invoice

    Posted 16 days ago
    We post a $0 invoice instead of a journal reclass.  So the invoice has 2 lines; debit right GL, credit wrong GL.  Then the history shows on the vendor card and its pretty quick.

    Jillian Bishop
    Sr. Accounting Manager
    Grundens USA, Ltd.

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    Jillian Bishop
    Grundens
    Poulsbo WA
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  • 7.  RE: Correcting GL Account on Vendor Invoice

    Posted 15 days ago
    Jillian, I like the idea of that.  With it being a $0 invoice does it automatically mark itself as paid?  I wasn't sure if our A/P team would see it in their check run as an item that needs to be pulled in.

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    Kelly Smith
    Plastic Industries
    Nashua NH
    ------------------------------



  • 8.  RE: Correcting GL Account on Vendor Invoice

    TOP CONTRIBUTOR
    Posted 15 days ago
    We have also used the zero dollar invoice and you can add line comments documenting whey the change was made.

    if a Profit and Loss account is involved you c an fix it backdated to the correct period and it will not change the bottom line.

    We have also entered $0 invoices to fix dimension references.

    ------------------------------
    Michael Heatherly
    controller
    Lesman Instrument Company
    BENSENVILLE IL
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