Post wrong Chart of Account

Dear all,

I’m doing a purchase order until i post an invoice.

In ledger of invoice, i post in wrong account.

I post the inventory receipt in account “other inventory” but actually it is “Material Inventory”.

How can i make a corection?

Should i make a credit note in this purchase order?

Can i make the corection in general journal ?

So the ledger will be like this

Other Inventory (CR)

Material Inventory ( DB)

Thanks in advance

Regards

Rudy

Always the best solution is to do a credit note, which replaces all the wrong entries the way it was invoiced. Also, there is a reference to it.

A JV is a later option if the above does not work, as with many standard reports, the JV transaction may not be taken.

Hi Rudy,

Doing journal entry is not the solution. Inventory receipt a/c is very important and this is considered in inventory closing.

If possible, reverse the PO transaction by posting credit note, update the item group with new account and then post PO again.

Pranav…