purchase invoice earlier, receipt later in navision

sowj

hi everyone:
what is the most reasonable way to deal with the situation of purchase invoice coming earlier while receipt later in the navision system. please kindly share your ideas!
thanks in advance!

kapil4dynamics

NAV does not have this (One shot document if u r looking for or straight functionality) as, as per NAV you do not invoice earlier before receiving. But can u elaborate what u r trying to achieve.

kine

Only way you can do something like that are pre-paid invoices, but I am not sure, if it is applicable to your situation.

sowj

kapil4dynamics wrote:

NAV does not have this (One shot document if u r looking for or straight functionality) as, as per NAV you do not invoice earlier before receiving. But can u elaborate what u r trying to achieve.

thanks. eg: you have not got the goods from the vendor, but you got the invoice. then, we have to make the entry like this:
debit: material in transportation
credit: account payable
but acctually, i don't have to pay now
so, my question is how navision deal with this
thanks!

kapil4dynamics

U r asking for Interim Accounting. That is done by NAV the moment you post a receipt an Invoice you get Debit Inventory Interim Credit Inventory Accrual Interim(U can have it as A/c Payable s Received not Invoices but remember sales interim will also go in this.

Once you invoice the same documents these gets reversed.

Or u can follow the advice given by kine but see it to ur process first.

Alex_Chow

sowj wrote:

hi everyone:
what is the most reasonable way to deal with the situation of purchase invoice coming earlier while receipt later in the navision system. please kindly share your ideas!
thanks in advance!

Are you talking about a situation where the items are FOB and is on the water and you received proforma invoice for the shipment?

David_Singleton

The way I normally handle this is to create a new Location for Goods in transit. Receive and invoice the goods into this location. Then when they arrive in you stock transfer them to the correct location. Of course you will need to fine tune it for your scenario, but in general that's the way to go.

themave

I would add two more lines to the PO, one line to a g/l account for pre-paid invoices, and a second with a negative one, to the same g/l account

when you get the invoice you receive and invoice the first line. this puts the invoice in your system but doesn't record any inventory, since you haven't actually received anything.

then when the items arrive, you receive them and the second (negative one) g/l line

you can receive and invoice everything, the negitive line reverses the first entry, (take the $'s out of the pre-paid account) The inventory is received as it should be, the po gets closed by regular navision process.

From an accounting stand point this is accurate, your inventory is accurate and you don't have to change or program anything.

sowj

themave wrote:

I would add two more lines to the PO, one line to a g/l account for pre-paid invoices, and a second with a negative one, to the same g/l account

when you get the invoice you receive and invoice the first line. this puts the invoice in your system but doesn't record any inventory, since you haven't actually received anything.

then when the items arrive, you receive them and the second (negative one) g/l line

you can receive and invoice everything, the negitive line reverses the first entry, (take the $'s out of the pre-paid account) The inventory is received as it should be, the po gets closed by regular navision process.

From an accounting stand point this is accurate, your inventory is accurate and you don't have to change or program anything.

i think your solution fits my situation most. invoice is recorded and inventory reflects the real figure.
thanks to you and everyone!