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Accounting line for P2P and P2P with Landing cost

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edited Nov 27, 2019 8:06PM in Costing 3 comments

Summary

Accounting line for P2P and P2P with Landing cost

Content

Greetings, there is a question about the seats generated by the Landing Cost process for an item import process.
 
 
If we see the basic case of a Purchase Order the Cost Distribution made are the following
 
NORMAL INVENTORY ITEM P2P
REC PO
Debit                                |    Credit
-----------------------------------------------------
Receiving Inspection AC | Accrual    AC
 
 
INV 
Debit                             |  Credit
-----------------------------------------------------
Inventory Valuation AC | Receiving Inspection AC
 
INVOICE 
Debit             |  Credit
-----------------------------------------------------
Accrual    AC | Liability AC
 
PAY
Debit           |  Credit
-----------------------------------------------------
Liability AC | Cash AC
 
 
LANDING COST PROCESS
REC PO
Debit                                | Credit
-----------------------------------------------------
Receiving Inspection AC | Accrual    AC

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