I am new to Sage City - I got an answer in an email but don't see it here.  So - the questions was whether we'd use fixed assets.  We have many small items - custom parts to be used for testing, tools, hardware, etc., that don't fall in the assets category.  We just want to recognize the expense on receipt, not wait until we get the invoice.  A workaround will be a report to identify these items that have been received and not invoiced.

Thanks... Aileen

Sorry - it was my suggestion, but it does not gave an answer to your question. We are using some items, which doesn't fit under the definition of fixed assets.  We are calling them like low valued assets -  and we manage them in FA module, with help of physical elements.

On your issue - do you tried to use products not managed in stock (Product>Management>Stock management>[Not managed])?  Such products will not create stock entries, but it will be possible to order/receive/invoicing.

Sorry - it was my suggestion, but it does not gave an answer to your question. We are using some items, which doesn't fit under the definition of fixed assets.  We are calling them like low valued assets -  and we manage them in FA module, with help of physical elements.

On your issue - do you tried to use products not managed in stock (Product>Management>Stock management>[Not managed])?  Such products will not create stock entries, but it will be possible to order/receive/invoicing.

Hi.  

We do use non-managed items, but these items don't create GRNI.  So we just wrote a report to identify those items received not invoiced and do a reversing journal entry every month end.

Still think the system should do it.

What version of x3 are you on?  There is an accrual process under the Financials / Closing / Accruals that you can run that creates the accrual to the expense account associated with the non-managed product that was received but not invoiced.  There is some setup to do, but if you are doing receipts on non-managed products this will generate your accrual and it is set to reverse the next month.