Stock movements, purchase orders and bills line up

What moves

Every posted stock movement becomes a balanced ledger entry, purchase orders and receipts are mirrored for bill matching, a posted landed cost adds to the cost, and the stock value is reported daily for reconciliation.

Before you start

• Inventory and Accounting both in your plan
• A chart of accounts and posting rules installed from your country pack
• An open accounting period
• Inventory and Accounting in your plan
• Posting rules installed by the country pack
• Open periods and stock, cost-of-sales and goods-received accounts in the chart

Step by step

1. Warehouse userInventory, Purchasing & Warehousing

   Receives goods against a purchase order, ships an order or posts a count.

   You see:A movement is posted with a cost.

2. SystemAccounting & E-Invoicing

   Writes one balanced entry for the movement using the posting rule for its kind, for example debit stock and credit goods received. Transfers between your own shelves post nothing.

   You see:The entry appears in the stock journal once, even if the movement is announced twice.

3. SystemAccounting & E-Invoicing

   Parks the entry in Waiting to post if the period is locked, the journal or an account is missing, or the rule is on hold, and notifies the people who can post it.

   You see:Nothing is lost; the reason is shown in plain words.

4. AccountantAccounting & E-Invoicing

   Fixes the cause and presses Post now.

   You see:The waiting entries are booked.

5. Accounts payable clerkAccounting & E-Invoicing

   Enters the supplier's bill with the purchase order number in the reference or notes.

   You see:The bill links itself to the order and is compared with what was ordered and received.

6. Finance controllerAccounting & E-Invoicing

   Accepts any variance outside tolerance with a reason.

   You see:The bill can move on to approval and payment.

7. SystemInventory, Purchasing & Warehousing

   Stamps the purchase order Billed, and then Paid, when Accounting posts and pays the bill.

   You see:The order's timeline shows Billed and Paid.

8. AccountantAccounting & E-Invoicing

   Opens the inventory against ledger card.

   You see:The stock account balance is shown beside the stock value, with any waiting entries counted.

Related

• Accounting & E-Invoicing
• Inventory, Purchasing & Warehousing
• Subscription invoices are billed through accounting
• Taxes created in Accounting appear on products
• The asset register and the ledger share one asset
• The tax agent asks the administrator to fix a company detail
• A company goes live and everyone sees the new mode
• Connections between modules