This content has been marked as final. Show 5 replies
that entry will be created when you accept the component in Inspection and move it to inventory
What is the othr a/c, and whr is it defined?
That is the inventory account, which you define at organization, subinventory level.
during the movement of item to inventory, inventory account get debited and liability will get credited.
Thanks & Regards
If you are accruing on Receipt for the expense item, the first entry is what you have described. The second one that offsets the receiving account is
Cr Receiving A/C
Dr Account used in the PO distributions (if item is used expense account of that item from that organization , subinventory used with no item then expenses accoutn from there if none of these are there then the expense account from orgnaization is used in the PO distribution. If you have extended PO Account generator then it is your Expense account in the PO distribution that gets debited).
Well, it's possible to put expense items into inventory, so the debit side of the accounting entry depends on the destination type listed on your PO.
Although, whatever you have listed on the PO it's the DELIVER transaction that creates the offset receiving inspection account entry.
Here's a link to the cost management guide that shows all the accounting entries for related transactions.
Hope this helps!