How to tell if a particular item has been paid for?

ekornmeyer

I'm trying to build a report of inventory ownership of total value of items we have on hand and were invoiced vs the total amount of those that are paid by item. I'm searching Value Entry table for Purchase Invoices and Receipts. Filter on ILE for Remaining Quantity ">0". And getting Remaining Amount field from VLE to see if anything has been paid for it. But I'm having a hard time understanding how to find out which individual item on the receipt has been paid for. Is there a check box or some key that will tell me that?

bbrown

What do you mean by "has been paid for"? Do you just mean that you have received and posted the vendor's invoice? Or do you mean you have actually paid the vendor? The ILE (or VE) will tell you if the item has been invoiced (Quantity Invoiced) but it won't tell you if it's actaully been paid for. For that you'd need to track to the Vendor Ledger (for the invoice) and see if that have been paid.

Kishorm

I agree with what bbrown has said and would also like to point out that the "Remaining Quantity" is not used for the purpose you are trying to use it for. It is nothing to do with whether or not the item has been invoiced (or paid) but is whether the item is still in inventory or not - I.e. if there is a "Remaining Quantity" (x) - it means that x items have not been shipped back out again.

EDIT: Maybe I should have read it properly - you only want to look at what is on hand, so for this purpose it is correct to be looking at remaining quantity.

ekornmeyer

To clarify a little better:

If a Purchase Invoice contains the following Lines:
80x ABC
24x EFG
2x HIJ

And in the ILE, there is 40 entries where Remaining Quantity is >0 for item ABC. I want to know out of those 40 lines in the ILE, which of them have been paid for. As in how much have we paid the vendor for that invoice for each item. Is it even possible? I figured since they are being listed out separately in the ILE and the Value Entry there would be some indicator for each line if it has been part of the payment or not.

Kishorm

No, there is no indicator on either Item Ledger Entry or Value Entry to say that the invoice that relates to those items has been (part) paid or not.

skulla

Hi, On Value Entry there is a field called Item Ledger Entry No. which you can use the associated item for a value entry and i also believe there is an item no. field on value entry which you can use to filter for a specific item.

bbrown

A more basic question: Why does it matter?

ekornmeyer

I just wanted the numbers to match up in the 'Total' and 'Paid' columns instead of the paid having the sum of the entire invoice since i'm reporting by item..

bbrown

Why? What's the business need?

Your inventory has nothing to do with Accounts Payable. Whether the inventory left in stock is that which you have paid for or not is irrelevant.

ekornmeyer

It's an inventory ownership report so it's relevant to know what is paid for as it isn't ours until it is paid for I would guess. I'm just the guy doing reports for people that need them so I don't know the exact reasoning behind it

bbrown

ekornmeyer wrote:

It's an inventory ownership report so it's relevant to know what is paid for as it isn't ours until it is paid for I would guess. I'm just the guy doing reports for people that need them so I don't know the exact reasoning behind it

Are you the client or the NSC (or independent consultant)?

Whether or not you have paid a vendor's invoice does not determine if you own your inventory. The vendor's invoice is simply a form of short-term credit. We're not talkign about consigned inventory? We are talking about the simple purchase, receipt, invoicing, and payment of inventory on terms?

Consider this: How do you account for inventory you have sold but not paid for?

ekornmeyer

I work for the company.. I mainly do web design and misc. IT stuff but got stuck with this project. Don't ask how or why cause I don't know. Yeah, that is the exact process: purchase, receipt, invoicing, and payment of inventory on terms.. that's what they want broken down by item.
If it's a positive adjustment, sale or transfer they want to consider it "paid for" on the report and if it's a purchase/payment they want to know how much of the item has been paid on all the invoices for that item.

What you're saying makes sense though.. was just hoping there was a way so I could please these people and move on!

vaprog

Unless you have item tracking, you will have to guess.