Asset/Exp Item

[byswamy]

I created Expense item in item master..inventory flag is unchecked.
i have given Exp a/c in purchasing tab..
When i am reving ..receiving Acrrual a/c is defaulting.
In purchasing optin also ap expense at receipt.

A/c should be like Exp/asset a/c(dr) and Accrued exp (cr)


Thanks
Swamy

[SRINIBAS]

Swami,just check out the inventory organisation setup and look for what are the default account code combination assigned to it.
thanks
srinibas

[byswamy]

Thanks srinibas...can you tell me which entry will come when i match receipt(asset item) to invoice...


Thanks
Swamy

[Subramanian kn]

Hi Swamy,

Wen u Match Receipt to Invoice(as it is expense item) entry will be:-

Expense AP Accrual Dr (Defaults from Purchasing Options in Purchasing Module)

Liability account Cr (Defaults from Supplier which inturn defaults from financial options)


Regards,
Subramanian KN.


[quote]Thanks srinibas...can you tell me which entry will come when i match receipt(asset item) to invoice...


Thanks
Swamy

<i><div align="right">Originally posted by byswamy

[byswamy]

If i match Asset item receipt to payable invoices.
If i run the mass additions can payable transfer the asset to Assets.
And the entries of these payable invoices.


Thanks for your valueble inputs


Thanks
Swamy

[nass_kp]

Whenever you receive Receiving accrual Acc will get Cr.

Go to Inventory responsibility and see the Material Distribution, there you shall see the Expense Accrual Account.