usage:po2gl
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usage:po2gl [2015/03/23 11:59] mueed |
usage:po2gl [2015/03/23 12:11] (current) mueed old revision restored (2014/07/12 02:33) |
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| - | ====== Purchase Return ====== | + | =====PO to GL Interface===== |
| - | * Approve | + | Prior to version 5.3, Taxes and duties were posted when a GRN was confirmed. However, many customers are of the view that the taxes and duties should be based on Supplier Invoices and Not when a GRN is posted. This is particularly important when invoices from suppliers are based on milestones and not GRN. The new interface fixes this problem. It also takes care of Purchase Discounts which were automatically deducted from price instead of crediting to discounts earned, even when a separate account was specified in GL Interface table for that purpose. |
| - | * POST to GL | + | |
| - | * Settlement | + | |
| - | ==== APPROVE (Purchase Return) ==== | + | ====Confirm GRN==== |
| - | When Purchase return is approved, the TRADE CREDITORS – control A/C's sub account's (Supplier) credit available will be added the returned amount. | + | When a GRN is confirmed, the following accounting entries are created |
| - | ==== POST (Purchase Return) ==== | + | ^ GL Interface Type ^ Sub-account ^ Currency ^ Dr ^ Cr ^ Notes ^ |
| + | ^ Purchase Commission | | Prime | (PurchasePrice-Discount)*Commission%/100 | | | | ||
| + | ^ Accrued Purchases-Agents | | Prime | | (PurchasePrice-Discount)*Commission%/100 | | | ||
| + | ^ Accrued Purchases-Supplier | | Prime | | PurchasePrice-Discount | | | ||
| + | ^ Purchase Discount | | Prime | | Discount | | | ||
| + | ^ Accrued Purchases-Sundries | | Base | | AdditionalCost | | | ||
| + | ^ Inventory/Accruals | | Base | StandardCost | | | | ||
| + | ^ Purchase Variance | | Base | PurchasePrice*ExchangeRate+AdditionalCost-StandardCost | | | | ||
| + | \\ | ||
| - | When Purchase Return is posted to GL, the following accounting entries should be created. | + | ====Post Supplier Invoice - Local Purchases==== |
| - | ^ GL Interface Type/[Account] ^ Account Usage ^ Sub-account ^ Currency ^ Dr ^ Cr ^ Notes ^ | ||
| - | ^ Returns | Ledger | | Base | |Standard Cost | | | ||
| - | ^ Inventory/Accruals | Ledger | | Base | | Standard Cost | | | ||
| - | ^ TRADE CREDITORS/Accounts Payable | AP | Supplier | Prime |(Purchase Price-Discount) + Tax | | | | ||
| - | ^ Accrued Purchases-Agents | Ledger | | Prime |(PurchasePrice-Discount)*Commission%/100 | | | | ||
| - | ^ Accrued Purchases-Sundries | Ledger | | Base |AdditionalCost | | | | ||
| - | ^ Purchase Commission | Ledger | | Prime | |(Purchase Price-Discount)*Commission%/100 | | | ||
| - | ^ Purchase Discount | Ledger | | Prime |Discount | | | | ||
| - | ^ GST-Input TAX | Tax | | Prime | |(PurchasePrice-Discount)*TaxRate/100 |Incase of Import Taxes/Duties Payable Contra Should be Used | | ||
| - | ^ Purchase Variance | Ledger | | Base | |()Purchase Price*Exchange Rate)+Additional Cost-Standard Cost | | | ||
| + | When a Supplier Invoice is posted, either from GRN or Payment Milestones, the following accounting entries are created. | ||
| + | ^ GL Interface Type/[Account] ^ Sub-account ^ Currency ^ Dr ^ Cr ^ Notes ^ | ||
| + | ^ Accrued Purchases-Supplier | | Prime | PurchasePrice-Discount | | | | ||
| + | ^ [Accounts Payable] | Vendor | Prime | |(PurchasePrice-Discount)*(100+TaxRate)/100 | | | ||
| + | ^ [Tax] | | Prime | (PurchasePrice-Discount)*TaxRate/100 | | | | ||
| + | \\ | ||
| - | \\ | + | |
| - | ====SETTLEMENT Purchase Return==== | + | ====Post Supplier Invoice - Imports==== |
| - | Once the Purchase return is settled, Trade creditor – control A/C's sub account's (Supplier) credit available will deduct the settled amount of money and the following accounting entries are created. | ||
| - | ^ GL Interface Type/[Account] ^ Account Usage ^ Sub-account ^ Currency ^ Dr ^ Cr ^ Notes ^ | + | When a Supplier Invoice is posted, either from GRN or Payment Milestones, the following accounting entries are created. |
| - | ^ CASH AT BANK | Bank | | Prime | (SalesPrice-Discount) + Tax | | | | + | |
| - | ^ TRADE CREDITORS - CONTROL A/C | AR | Customer Account| Prime | |(SalesPrice-Discount) + Tax | | | + | ^ GL Interface Type/[Account] ^ Sub-account ^ Currency ^ Dr ^ Cr ^ Notes ^ |
| - | \\ | + | ^ Accrued Purchases-Supplier | | Prime | PurchasePrice-Discount | | | |
| + | ^ [Accounts Payable] | Vendor | Prime | |(PurchasePrice-Discount) | | | ||
| + | ^ [Tax] | | Prime | (PurchasePrice-Discount)*TaxRate/100 | | | | ||
| + | ^ Taxes/Duties Payable Contra((This a new Interface Type that must be defined.)) | | Prime | | (PurchasePrice-Discount)*TaxRate/100 | | | ||
| + | \\ | ||
| + | |||
| + | =====Examples===== | ||
| + | |||
| + | |||
| + | Say, PucrchasePrice=USD 100 Discount=10% Commission=5% ExchangeRate=1.5 BaseCurrency=SGD StandardCost=SGD 70 AdditionalCost=SGD 35 Vendor=SUP-000001 Agent=AGNT000001 TaxRate=7% | ||
| + | |||
| + | The generated vouchers will contain: | ||
| + | |||
| + | ====Confirm GRN==== | ||
| + | |||
| + | |||
| + | ^ GL Interface Type ^ Sub-account ^ Currency ^ PrimeDr ^ PrimeCr ^ BaseDr ^ BaseCr ^ Notes ^ | ||
| + | ^ Purchase Commission | | USD | (100-10)*5/100=4.50 | | 6.75 | | | | ||
| + | ^ Accrued Purchases-Supplier | | USD | | (100-10)*5/100=4.50 | | 6.75 | | | ||
| + | ^ Accrued Purchases-Supplier | | USD | | 100-10=90.00 | | 135.00 | | | ||
| + | ^ Purchase Discount | | USD | | 10.00 | | 15.00 | | | ||
| + | ^ Accrued Purchases-Sundries | | SGD | | 35.00 | | 35.00 | | | ||
| + | ^ Inventory/Accruals | | SGD | 70.00 | | 70.00 | | | | ||
| + | ^ Purchase Variance | | SGD | 100*1.5+35-70=115 | | 115.00 | | | | ||
| + | ^ Totals ^ ^ ^ ^ ^ 191.75 ^ 191.75 ^ ^ | ||
| + | \\ | ||
| + | ====Post Supplier Invoice - Local Purchases==== | ||
| + | |||
| + | //When Country Code of the Business matches that of the Supplier.// | ||
| + | |||
| + | ^ GL Interface Type/[Account] ^ Sub-account ^ Currency ^ PrimeDr ^ PrimeCr ^ BaseDr ^ BaseCr ^ Notes ^ | ||
| + | ^ Accrued Purchases-Supplier | | USD | 100-10=90.00 | | 135.00 | | | | ||
| + | ^ [Accounts Payable] | SUP-000001 | USD | | (100-10)*(100+7)/100=96.30 | | 144.45 | | | ||
| + | ^ [Tax] | | USD | (100-10)*7/100=6.30 | | 9.45 | | | | ||
| + | ^ Totals ^ ^ ^ ^ ^ 144.45 ^ 144.45 ^ ^ | ||
| + | \\ | ||
| + | ====Post Supplier Invoice - Imports==== | ||
| + | |||
| + | //When Country Code of the Business DOES NOT match that of the Supplier.// | ||
| + | |||
| + | ^ GL Interface Type/{Account] ^ Sub-account ^ Currency ^ PrimeDr ^ PrimeCr ^ BaseDr ^ BaseCr ^ Notes ^ | ||
| + | ^ Accrued Purchases-Supplier | | USD | 100-10=90.00 | | 135.00 | | | | ||
| + | ^ [Accounts Payable] | SUP-000001 | USD | | 100-10=90.00 | | 135.00 | | | ||
| + | ^ [Tax] | | USD | (100-10)*7/100=6.30 | | 9.45 | | | | ||
| + | ^ Taxes/Duties Payable Contra | | USD | | (100-10)*7/100=6.30 | | 9.45 | | | ||
| + | ^ Totals ^ ^ ^ ^ ^ 144.45 ^ 144.45 ^ ^ | ||
/srv/www/htdocs/wiki/data/attic/usage/po2gl.1427111946.txt.gz · Last modified: 2015/03/23 11:59 by mueed
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