We'd love to hear from you! Provide  feedback  to earn a badge today. Take our quick survey
You're almost there! Please answer a few more questions for access to the Applications content. Complete registration
Interested in joining? Complete your registration by providing Areas of Interest here. Register

Use charge account on invoice in case of 2-way match PO with Accrual on Receipt

Incorrect Answer
1
Views
2
Comments

Summary:

I am looking for a solution via SLA to address an issue with the accounting flow for 2-way match POs under the "Accrual on Receipt" model, which is resulting in P&L misstatement. The reason for the issue is that, since the receipting is not required for 2-way match, the auto-accrual entries to hit the P&L are not generated, and the invoice accounting does not debit the P&L but the accrual balance sheet account instead.

Content (required):

My client uses Accrue on Receipt (AoR) as the auto-accrual solution and while most of the purchases are 3-way match, we do use 2-way match for large volume / small amount items (e.g. stationery).

Howdy, Stranger!

Log In

To view full details, sign in.

Register

Don't have an account? Click here to get started!