We all already have concept of Purchase order processing
and its accounting but how the Dynamics AX will do its accounting for a
Standard Purchase Order processing we can see the Dynamics AX accounting according
to event wise.
The purpose of the posting accounts is to allow Microsoft Dynamics
AX to write an accounting entry for the whole value of the purchase, without
any variances, and thus allow it to handle the variances in a separate voucher.
This new posting account temporarily records the cost in control account and
then moves the cost into ledger account.
Let’s see the effects and nature of accounting according to purchase
order posting.
Purchase
Order Accounting For Product Receipts:
Voucher
No.
|
Posting
Type
|
Dr.
|
Cr.
|
Purpose
|
Voucher # 1
|
Purchase Expenditure Un-invoiced
|
Dr.
|
To account for Accrued Liability.
|
|
Purchase Accrual
|
Cr.
|
|||
Voucher # 2
|
Product Receipt
|
Dr.
|
Capitalizing the Cost in Inventory Assets Ledger Account.
|
|
Purchase Expenditure - Un-invoiced
|
Cr
|
Nature of Purchase Expenditure Un-invoiced
This is a control Account and used
as the offset main account for accrued liability amounts when a product receipt
is recorded. This account can be used for both stocked & Non-Stocked
products. But as a user, you might want to assign a different account for
non-stocked item to see any product receipts that are not invoiced yet.
Purchase
Order Accounting For Vendor Invoices:
Voucher
No.
|
Posting
Type
|
Dr.
|
Cr.
|
Purpose
|
Voucher # 3
|
Purchase Accrual
|
Dr.
|
Reversal of accrued liability i.e. Voucher # 1.
|
|
Purchase Expenditure Un-invoiced
|
Cr.
|
|||
Voucher # 4
|
Purchase Expenditure for Product
|
Dr.
|
To record the liability for the vendor invoice
|
|
Vendor Balance
|
Cr.
|
|||
Voucher # 5
|
Purchase Expenditure Un-invoiced
|
Dr.
|
Reversal of Capitalizing inventory cost i.e. Voucher # 2.
|
|
Product Receipt
|
Cr.
|
|||
Voucher # 6
|
Purchase, Inventory Receipt
|
Dr.
|
Accounting entry to record the actual inventory cost.
|
|
Purchase Expenditure for Product
|
Cr.
|
Nature of Purchase Expenditure for
Product
This is a control account and is used as an offset main account for
liability amounts when a vendor invoice is recorded. It is used for stocked
Items.Conclusion:
The value of inventory will increase (for a normal purchase) and where a standard cost item is being
Used, if there is a variance this will be recorded in the PPV account and liability to pay the vendor will be generated in the vendor balance account.
Enjoy the DAXING !!!
Thanks for sharing the important task with us..
ReplyDeleteThis is really very nice blog....
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