If we receive a PO in full but don't have an invoice, does it show as an open payable as vouchered but no invoice received.
Eric Flansbaum 0560-
Sage BusinessWorks uses a holding account (or IPR account) for purchases that have been received into Inventory Control, but have not yet been invoiced in Accounts Payable. This feature provides a means of insuring that all inventory received has been invoiced by the inventory vendor. It is convenient for companies that process inventory receipts and Accounts Payable invoices separately, or when vendors submit invoices and merchandise separately.
When you use PO Receipts, it will also flag you if you want to “ADD A/P INVOICE?”. If you do not have an invoice, you would select No. You would then have to enter the invoice later by going to AP, Invoices.
For additional information on reconciling the Inventory Purchase Receiving (IPR) account, please see enclosed article.
How to reconcile the Inventory Purchase Receiving (IPR) account
https://us-kb.sage.com/portal/app/portlets/results/viewsolution.jsp?solutionid=222924550020728
Sincerely,
Coleen
