How to pass the entry for goods who is damage by fire

Business Central/NAV User Forum
1

Hi All,

I have purchase some goods for the customer , while due to some power issuse the goods got damage due to fire, now i want to know how to adjust this goods value.

The situation is this I have made PO( Purchase Order) and GRN done only invoicing is left, because goods get damage , now i can’t sale the good. so need to adjust the entry .

Regards,

Shailesh

2

hi,

you just need pass put an entry of wastage through movement journal at warehouse level.

regards

Syed Muhammad Akber

3

Thanks for the reply,

Actually i don’t have Warehouse Granule so i can not use this movement Journal. i have BE license only , so can i use item journal and pass the negative journal for this will it will resove my problem

Regards.

Shailesh

4

Negative will do, but I think you should first post the invoice first run the cost related batch & the do negative of the item.

5

Hi Manish,

i have to show this in G/l account of loss in fire , if i pass -ve adjustment than it will hit my inventory adjustment, now i have to claim the insurance how can i show this particular loss in seprate G/L account (Loss in Fire).

6

You need to pass the value entry of goods loss from G/L to G/L using the Journal Voucher.

7

Hi Manish,

meanwhile what you are saying that i have to pass JV form inventory adjustment to Loss of fire account This is only soluition , or there is any alternate for this.

Regards,

Shailesh

8

To me yes this is the only solution.

Cause Inventory related value entry if you want to pass from inventory G/L account has to be passed via other way.

I would suggest you test this in a test database first & see the impact of the item’s costing & prices.

9

Thanks Manish,

I will first test this scenrio in Test Database than get back to you.

Regards,

Shailesh

10

If I understand your situation correctly, you have some inventory that has been damaged and now cannot be sold. So you have filed a claim with your insurance company. You are hopeful they will cover the damages and you want NAV to reflect that?

We have a client that deals purchases perrisable products. They occasionally have a similar situation as stuff arrives unusable. They will file an insurance claim. They handle it by creating a Purchase Return Order to whomever will eventually pay for the loss. Linking it to the original receipt so the costign flows thru. You could also use Credit Memo here but you’d not have the flexibility of separate ship/invoice.

11

You can do an internal invoice to hit the G/L account directly or invoice to the insurance company at cost. The sale/COGS will be affected and receivables and inventory will be the other accounts. When the money comes from insurance, clear the receivables and balance is your Profit/loss from fire damage.