Inventory Receipts: Applying Ledger Accounts (PO)

Tarun_Gody

Hi,
I have an issue linking ledger accounts when receiving goods using PO.
I have set up Accounts payable parameters with the option 'Post Packing Slip in Leger'.
I then set up the following for Inventory posting (Item Groups screen, Purchase Order tab)
Packing Slip: XYZ (Inventory account to receive goods in system from where they will be issued)
Now, when I packing slip update the purchase order, the above mentioned ledger account is updated with the goods received in system.
Thereafter, when invoice updating the PO, I'm asked to enter another ledger account for Item Receipts.
Here is where the problem arises. I have already entered this ledger account with Packing Slip update of PO. This is the final account from where inventory will be issued.

Is there a way to packing slip update purchase orders with only the inventory account without having to specify a second account for inventory receipts?

Would appreciate any help on the above issue.
Thanks in advance

AdamRoue

You need to set these accounts because with different costing methods the values can change, for example you receive the items into stock at 10 and they are invoiced at 11. However if you never change the cost between the two you could ignore the accrued purchases step by setting the invoice receipt to contra the packing slip offset, making the initial receipt the inventory asset account. It is all to do with making the correct entries at the stages of the process, not necessarily defining them to the labels they are given in the stock model group.

Tarun_Gody

Appreciate it.
Thanks