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Purchase invoice using credit memo for items with COSTING ME

bimbobimbo Member Posts: 3
Hi,

When reversing Purchase invoice using credit memo for items with COSTING METHOD standard cost, the variance amounts are not getting reversed and the direct cost is not updated with original cost.
How to reverse the entire document details?

Example
purchase Invoice
Entries passed
INVENTORY ACCOUNT - 150
PURCHASE ACCOUNT - 200
VENDOR ACCOUNT - 200
DIRECT COST ACCOUNT - 200
VARIANCE ACCOUNT - 50

BUT ON REVERSAL
THESE ACCOUNTS ARE PASSED WITH THESE FIGURES
INVENTORY ACCOUNT - 150
PURCHASE ACCOUNT - 200
VENDOR ACCOUNT - 200
DIRECT COST ACCOUNT - 150

THE VARIANCE ACCOUNT IS NOT PASSED AT ALL
AND THE DIRECT COST IS PASSED WITH 150 INSTEAD OF 200



Thanks

Comments

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    kapil4dynamicskapil4dynamics Member Posts: 591
    Are you sure that it got posted in same manner or was it

    Inv DR 150 + Inventory CR 50 + Variance DR 50 on Invoice entry and on credit memo Inventory Cr 150, as variance would not get reversed because variance was recorded at the time of invoicing,

    if u wanted to reverse direct cost applied exactly then u shud use "Get posted document line to reverse" function on credit memo line to copy the invoice line.

    Try this function on test db first.
    Kapil Khanna
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    bimbobimbo Member Posts: 3
    try your solution for the direct cost account but did not work as you said.

    i also want the dr in the variance acct to be removed since am reversing

    thanks
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    kapil4dynamicskapil4dynamics Member Posts: 591
    If u use the function which I have mentioned it would reverse the variance as well as DCA. I just tested it. :)
    Kapil Khanna
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