Hi All
i have one scenario for the project Accounting, i have a project and through it i created the purchase order, for any service type item. Vendor deliver its service and not yet invoiced, just to trace the cost our accountants are booking the GL entry to the COGS (General) and Accrual expenses (for the purpose of getting the actual income statement) that is not from the project. As we have to put that cost in the project to get the actual cost, is there anyway that i can create the accrual from the project to capture the actual cost and later on i will reverse that journal once we receive the vendor invoice, and invoice the PO (to capture the cost in project).
Please advise me on this, thanks in advance