Purchase GRN vs Invoice

Dear Sir,

Without posting purchase invoice, purchase value from GRN purchase challan should be hit in

GL and P&L.Is it possible.

plz suggest

What is a GRN invoice?

If local indian functionality, the you should post in the indian forum.

Put tick mark on the automatic cost posting and Expected cost posting field on the inventory setup. when you receive the material system will post the value entry and the GL entry. you need to give the inventory accural account (interim) on the posting setup

Yes, you need to create set up for Inventory Account ( Interim) from inventory set up and Inventory Accrual Account (interim) in general posing set up.

Logically this accounts comes in Balance sheet and not in PL.

Further note that entries in these accounts are going to be reversed when you book purchase invoice.

Jainal

Thanks Vipin & Jinal…can u plz eleborate how entries are reversed ?

Thanks Vipin & Jinal…can u plz eleborate how entries are reversed ?and between which 2 acnts ?

At the time of GRN -

Inventory Interim A/c will be debited. ( Should make it in inventory side.)

Inventory Accru. Interim A/c will be credited. ( Should be at current liability side, along with vendors.)

Now above 2 accounts will be reversed at the time of invoice.

Normal Purchase and vendor entries will be posted and further Inventory and DCAA account will get values at the time of Invoice booking.

So in total there will be 6 GLs ( with out tax structure) will get values at the time of invoice booking.

Jainal