Procurement transactions

These procedures are performed in Purchasing, Match, and Payables and are used to create transactions:
  • Perform inspection, create and release inspection document; Receive goods, create and release receiving documents
  • Adjust receiving, create and release adjustment document
  • Return to vendor, create, authorize, and ship return document
  • Match invoices, create and match invoice
  • Record estimated liability
  • Pay invoice
  • Void payments
  • Receive goods, create and release receiving documents; Pay employee and release expenses
  • Recognize currency gains and losses
  • Reconcile unmatched invoices
  • Archive receipts
  • Write off receipts
  • Matched, not received
  • Post invoice distributions
  • Accrue payment discounts

Transaction accounts

This table contains the accounts, their use in transactions, and where they are set up:

Account Description Menu
Returns Suspense Used as a temporary holding account to post inventory items being returned to vendors Inventory Location
Inspection Hold Used as a temporary holding account to track inventory items received and waiting for inspection Inventory Location
Freight The account that is used when freight charges are applied against vendor returns Inventory Location
Handling The account that is used when handling charges are applied against vendor returns Inventory Location
Scrap The account that is used when inventory items are canceled off vendor returns or inventory items are rejected at inspection and written off Inventory Location
Inventory The account that is used when inventory items are received Inventory Location Account Group
Cost Variance and Adjustment The account that is used when cost variances cannot be posted to the inventory account. Cost variances cannot be posted if no stock exists, or transactions costs are different than default unit costs. Inventory Location Account Group

Interface transaction processing

These solutions are used to interface transactions to Global Ledger.

  • Global Ledger Interface

    This process is used to interface transactions in Inventory Control, Purchasing, Requisitions, and Warehouse to Global Ledger.

  • Standard Cost Calculation

    This process is used to create a reversing journal entry and calculate the difference between purchase order and standard cost for purchase order lines. It matches not received (MNR) or received not invoiced (RNI) quantity that is greater than zero. Standard cost companies are the only type of company that can run this process.

  • Open Receipt Archive

    This process is used to import write off and archived receipt transactions to Global Ledger Write off receipts are still available in the match process. Archived receipts are no longer available in the match process.

  • Payment Closing

    This process is used to complete a cash payment cycle for a pay group. When you close the cash payment cycle, you cannot reprint bad payment pages or recreate a payment clearing file or electronic payment file. Transactions are created and interfaced to Global Ledger for cash, discount, reportable income withholding, currency gain and loss, and payment accrual transactions.

  • Invoice Distribution Closing

    This process is used to interface transactions for released invoice distributions to Global Ledger. You must run this process at least one time per accounting period. You can run the process any time after you release an invoice.

  • Match Discount Accrual

    This process is used to interface accrued payments that are created during the match process. You must run this process at least once per accounting period, but you can run it as often as you require. We recommend that you run this process together with Journalize Inventory Distributions. This process is used to debit the Payables Liability account. The accrual code on the invoice is used and the Discount Accrual account that is defined on the Invoice Matching company is credited.

  • Invoice Reinstatement

    This process is used to reinstates invoices that are associated with voided payments in Cash and Treasury Management. Depending on the reason for voiding the payment, you can reschedule, maintain, or cancel a reinstated invoice. Interface transactions are created to Global Ledger for cash, discount, reportable income withholding, currency gain and loss, and payment accrual transactions.

  • Unrealized Gain or Loss

    For companies that pay non-base currency invoices, this process is used to calculate, create, and interface unrealized gain and loss transactions for released invoices.

  • Company Expense Posting

    This process is used to interface released company-paid expense distributions to Global Ledger and Treasury Management. You must run this process at least once per accounting period. You can run this report anytime after you release an expense.