NSCTLMN2 Accounts Payable Global Setup 2

Using Global Utilities

Receiving Accrual Account Reconciliation

Difference Between Online Receiving and Batch Receiving

Before we talk about the purpose of this feature, we have to understand the difference between On-Line and Batch receiving.  The following table outlines the difference between these two receiving methods:

 

On-Line Receiving

Batch Receiving

P/O & I/M transactions

Once a transaction is entered, the inventory is update immediately.  Easy to use and less control.

Once transaction is entered, you can review and edit the data.  You will need to post transactions to update inventory.

Inventory Trx. Audit Trail Report

Show in audit trail format.

Show in inventory ledger format for all transactions that affect inventory quantity balance.  Great report!

I/M Distribution

No impact on I/M distribution

Dr. Inventory Account

Cr. Receiving Accrual Account

A/P vouchering when received a PO invoice

Cr. Accounts Payable

Dr. Inventory

Cr. Accounts Payable

Dr. Receiving Accrual Account

Month End Reconciliation

G/L Inventory balance will not match I/M Stock Status Report.  Therefore, you need to find all the receiving not invoice, or invoice not receiving transaction to reconcile G/L and Inventory sub-ledger.  This is a manual process and can be time consuming.

G/L Inventory balance should match I/M Stock Status Report.  However, there will be value in Receiving Accrual Account to reconcile at month end.  If you do not enable “Receiving Accrual Account Reconciliation” feature, there’s no easy way to reconcile.

G/L Financial Statement

G/L Inventory does not reflect your true inventory value.

Add “Receiving Accrual Account” to your Balance Sheet as a temporary liability account.

 

Application Overview

If you are using batch receiving, posting a PO receiving updates the General Ledger (via the GL Inventory Interface) by debiting inventory and crediting the receiving accrual account as a temporary liability account.  Without enabling this feature, there are no sub-ledger detail reports that could be used reconcile the ending balance in the G/L receiving accrual account.

The purpose of this feature is to provide a means of reconciliation for the P/O receiving accrual account.  For data accuracy and integrity, the Reconciliation Process should be done prior to your End of Month Reporting.  As a bonus, this feature will also speed up A/P voucher processing. 

If you are using on-line receiving method, there’s no need to enable this feature because there’s no such a concept as “Receiving Accrual Account” in on-line receiving process.  However, we do recommend most users to use batch receiving instead of on-line for the additional features and benefits of batch receiving process. 

Additional Files Used by this Feature

 Accounts Payable

1. APRCNFIL - Receiving Account Reconciliation File. This file will be updated when posting AP Transactions.  Two reports will be generated from this file:  The Outstanding Report (similar to A/P Open Items), and The Date by Date Report.  We will discuss the purpose of these reports later in this document.   

2. APRCNHIS - Receiving Reconciliation History File.  This file      will be updated when you purge the APRCNFIL file.  The purpose of this file is to provide history information.  You can generate an Outstanding Report from this file. 

Purchase Order

 1.  PORCNFIL - Receiving Account Reconciliation File.  This file    will be updated after posting Receiving Transactions in P/O.  Two reports will be generated from this file: The Outstanding Report, and The Date by Date Report.

 2.   PORCNHIS - Receiving Reconciliation History File.  This file will be updated when you purge the PORCNFIL file.  The purpose of this file is to provide history information.  You can generate an Outstanding Report from this file.

Run Instructions

 Elliot Main Menu à Distribution à Purchase Order & Receiving à Processing à Reconciliation Processing.

Setting Receiving Accrual Account in P/O Setup

Before we can begin using this feature, you will need to setup the Receivings Accrual Account.  Figure 2A.4 shows how to do this.  Field 16 under P/O setup is where you define the account.  In our example, we set this account to 02165-10000-00000.

 Figure 2A.4 P/O Setup

 

Updating and Maintaining P/O & A/P Account Reconciliation Files

 P/O Receiving: We will start by entering and receiving a purchase order as shown in Figure 2A.5.  After posting P/O Receiving, the system will update the Receiving Account Reconciliation File where it can be maintained as shown in Figure 2A.6.

 

 

Figure 2A.5 shows a purchase order being received.

 



Figure 2A.6.

After posting P/O Receiving, the system automatically updates The P/O Account Reconciliation file.

 

Processing A/P Transactions

During A/P transaction, the system will display a P/O Reconciliation Search window, (Figure 2A.7 next page).  You can easily select the line item by highlighting it and pressing <Enter>.  The voucher no. is 50138, and applied to P/O 000039-00. Note:  If you prepaid a P/O without receiving it, you will still need to enter the “Receiving Accrual Account”,  “P/O No.”, “Line No.”, “Qty”, and “Unit of Measure”.  After posting the A/P Transactions, the system updates the A/P Receiving Account Reconciliation File, Figure 2A.8 next page.  This is a maintained file that can be edited. 

  


 

Figure 2A.8  A/P Reconciliation File Maintenance Screen

 Posting Considerations   P.O. 000039-00

Posting P.O. Receiving:    DR Inventory         $720.00    

                           CR Rec Accrual       720.00

 

Posting A/P Voucher        DR Rec Accrual       $720.00

                           CR Accts Payable     720.00    

 

If Invoice had come in at $750.00

 

Posting A/P Voucher        DR Rec Accrual       $720.00

                           DR PPV                 30.00

                           CR Accts Payable     750.00    

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