Purchase orders and invoices12/8/2023 ![]() Any sales tax will be converted to base currency at the current exchange rate and will be posted to your default Sales Tax account. Any freight will be converted to base currency at the current rate maintained in IM-C Enter Currency Exchange Rates and will be debited to Freight-in expense. The source currency ' s PO ' s Rec ¡¦ d not Invoiced account will be debited (in source currency ) for the purchase order amount being paid. General Ledger processing will be as follows. That means that the vendor you are paying will be paid in the source currency specified in the purchase order. The currency code was assigned to the PO during purchase order entry. If you have multi-currency processing enabled in IM-A International Configuration, the purchase orders that get processed in this program can be coded for transacting in a foreign currency ( source currency ). Similarly, if PO Tax groups is enabled, only purchase orders assigned to the specified tax group will be available for processing. However, if multi-currency processing is enabled, only purchase orders in the specified currency will be available for processing. This program will allow processing of items on multiple purchase orders from the same vendor on the same invoice. ![]() Once all items on a purchase order are fully received and invoiced, the program will prompt to close the purchase order, which deletes the record from the open purchase order file and marks the receivers as closed in the history file. If purchase order prices are incorrect, they can be changed from within this program, and the inventory last cost and average cost will be updated if the items were purchased for stock and any job costs will be changed accordingly if the original PO receipt was to a work order. ![]() The program lets you compare purchase order prices with your vendor invoice prices. Use this program to enter vendor invoices that pertain to purchase orders entered through the Purchase Orders module.īefore invoices can be entered through this program, items or services must first be received through PO-C Receive Purchase Orders and, if received to inspection, bought off using PO-J-C Enter Inspection Buyoffs.
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