The cost of non-physical inventory items and non inventory items, total Freight, Duty and Insurance are posted to the General Ledger when the purchase invoice is activated. GST amounts are also only posted at the invoice stageThe journal posting for purchase invoices are created when the invoice is activated. The Goods Received Note journal transactions are reversed out at the GRN price - i.e. Quantity Invoiced (up to the Qty Received) * Received Ex GST Unit Price for PHYSICAL inventory items only.
The cost of non-physical inventory items and non inventory items, total Freight, Duty and Insurance are posted to the General Ledger when the purchase invoice is activated. GST amounts are also only posted at the invoice stage
Example
| Received Ex GST Total | Invoiced Ex GST Total | |
|---|---|---|
| Part A - Physical | 500.00 | 500.00 |
| Part B - Non Physical | 600.00 | 600.00 |
| Part C - Non Inventory | 400.00 | 400.00 |
| Total Freight | 25.00 | 25.00 |
Journal
| Ledger | Warehouse Mask |
BAS Code |
Debit | Credit |
|---|---|---|---|---|
| Delivered Asset - Part A (reversal of receival slip - Qty Received * Ex Price) |
|
500.00 | ||
| Delivered Liability - Part A (reversal of receival slip - Qty Received * Ex Price) |
|
500.00 | ||
| Inventory Value - Part A |
|
|
500.00 | |
| Delivered Liability - Part A |
|
500.00 | ||
| GST Inwards - Part A |
|
50.00 | ||
| Inventory Value - Part B Non Physical |
|
600.00 | ||
| GST Inwards - Part B |
|
60.00 | ||
| Purchasing Classification Expense - Part C |
|
400.00 | ||
| GST Inwards - Part C |
|
40.00 | ||
| Creditors Freight |
|
25.00 | ||
| GST Inwards - Freight |
|
2.50 | ||
| Creditors Control - Total | 1,677.50 |
Where the UseCostOfGoodsLedger is set to No an additional two lines are added to the journal for physical inventory items. The credit posts to the ledger account attached to Cost Of Sales and the debit to the ledger attached to Inventory Purchases
| Ledger | Warehouse Mask | BAS Code | Debit | Credit |
|---|---|---|---|---|
| Delivered Asset - Part A (reversal of GRN - Qty Received * Ex Price) |
|
500.00 | ||
| Delivered Liability - Part A (reversal of GRN - Qty Received * Ex Price) |
|
500.00 | ||
| Inventory Value - Part A |
|
|
500.00 | |
| Delivered Liability - Part A |
|
500.00 | ||
| Inventory Purchases - Part A |
|
500.00 | ||
| Inventory Cost of Sales - Part A |
|
500.00 | ||
| GST Inwards - Part A |
|
50.00 | ||
| Inventory Value - Part B Non Physical |
|
600.00 | ||
| GST Inwards - Part B |
|
60.00 | ||
| Purchasing Classification Expense - Part C |
|
400.00 | ||
| GST Inwards - Part C |
|
40.00 | ||
| Creditors Freight |
|
25.00 | ||
| GST Inwards - Freight |
|
2.50 | ||
| Creditors Control - Total | 1,677.50 |
Where the UseCostOfGoodsLedger is set to No an additional two lines are added to the journal for physical inventory items. The credit posts to the ledger account attached to Cost Of Sales and the debit to the ledger attached to Creditor Purchases from the supplier record
| Ledger | Warehouse Mask | BAS Code | Debit | Credit |
|---|---|---|---|---|
| Delivered Asset - Part A (reversal of GRN- Qty Received * Ex Price) |
|
500.00 | ||
| Delivered Liability - Part A (reversal of GRN - Qty Received * Ex Price) |
|
500.00 | ||
| Inventory Value - Part A |
|
|
500.00 | |
| Delivered Liability - Part A |
|
500.00 | ||
| Creditor Purchases - Part A |
|
500.00 | ||
| Inventory Cost of Sales - Part A |
|
500.00 | ||
| GST Inwards - Part A |
|
50.00 | ||
| Inventory Value - Part B Non Physical |
|
600.00 | ||
| GST Inwards - Part B |
|
60.00 | ||
| Purchasing Classification Expense - Part C |
|
400.00 | ||
| GST Inwards - Part C |
|
40.00 | ||
| Creditors Freight |
|
25.00 | ||
| GST Inwards - Freight |
|
2.50 | ||
| Creditors Control - Total | 1,677.50 |
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