Accounting help

Epicor ERP 10
1

So we have an interesting situation that I need to figure out how to remedy. I’m not in accounting so forgive my ignorance.

The whole problem started with a receipt entry that was incorrect. We ordered a steel shape, 128K lbs on 2 releases of 64k lbs each. So we got 64k pounds on 2 trucks for the first release.

There were 2 packing slips (understandably) but our receiving guy, did a mass receipt, and received both releases at 64k lbs, even though we should have had a total of 64k lbs, and should have been 2 partials to one release.

Now fast forward to accounting, they sent 2 invoices for those two trucks. The invoices didn’t match the qty, but accounting made the adjustment on the accounting side, didn’t ask anyone why they didn’t match, and invoiced both releases at that partial price.

So now my inventory shows an extra 64k lbs that we don’t have, the cost for that is now half of what it should be, and in a month or 2 when the next 64k lbs shows up, we don’t have a PO line/release to issue the invoice to.

Ideally, I want to be able to adjust the receipt entries to the correct amounts, and move the second one to the first release like it should be. But since they are already invoiced, the system won’t let me move them.

Oh yeah, and all of this was done almost a month ago.

Is there a way to back out those invoices so I can make the changes on the receipt entries? If not, how would you guys handle this?

2

brute force…

adjust the inventory to be correct. pick an expense account to id improper INV $$$
reopen the PUR for the still remaining balance (add new releases)
Debit the Vendor $$ to write off AP INVOICE

you could try to RTV the “materials” back to vendor - that is more complex and depends on QA system
Returns To Vendor (RTV) - are handled based on system options. Quality System or NOT

RTV without the QUALITY system

  • QUANTITY ADJUSTMENT - Remove items from stock
  • MISC SHIPMENT ENTRY - Generate return paperwork for SHIPMENT back to supplier (not needed here)
  • AP INVOICE (Debit Memo Entry) - To create DEBIT MEMO for “Vendor Credit” for returned materials.
  • Reference original AP invoice if desired

RTV with QUALITY system

  • NON-CONFORMANCE - Identify questionable items ( move items out of inventory into NON-CONFORMANCE)
  • INSPECTION PROCESSING - Confirm good or bad
  • DMR PROCESSING - DEBIT MEMO created
  • MISC SHIPMENT ENTRY - Generate return SHIPMENT

I hope this helps solve your issue
be well! :slight_smile:

3

That’s what I was afraid of, I was hoping there was a more elegant way…