Fix purchase credit memo problem

Chika

Hi All,

Could anyone help me to solve my problem?
I create a Purchase Invoice (PI-0001) with total amount = 500

Then, I create a Purchase Credit Memo for PI-0001 with total amount = 500, and I apply the invoice number on header.

I forgot to set the "Exact Cost Reversing" in Purchase & Payable Setup.

When I run adjust cost, the system do adjustment on my purchase credit memo,
when I navigate the G/L entry, it gives me additional cost= 20 (after the adjustment)
Because I used FIFO costing method, the system find that the unit cost for the item = 520.

So, the system give me these journals:

Payable Account(D) : 500
Purchase Account (C): 500
Direct Cost Applied(D) : 520
Inventory Account (C) : 520

My question is:
How to reduce the cost to be 500, (In journals and value entry).

Any answer will be very appreciated.

Regards,
Nervy M S

ssingla

If using Version 2009 then you can use Inventory Application Worksheet to correct the application entries.

Chika

Hi Ssingla,

For your infomation I'm using NAV Version 5.0. Do you have any idea to fix my problem? Thank you.

Regards,
Nervy M S

sonjap

Dear Nervy

We are facing the same problem as yours. So, can you please tell us if you have find a solution for the problem with the adjust?
At the moment, the customer has posted credit memo but the entries were not reversed corectly.

Any advice will be appreciated.

Thanks and regards,
Sonja

vicky_dada

Hi guys,

how did you solve this problem? I am still not able to make the cost to 500