Question Receiving in a line item in smaller components

Yahoo Archive
1
Set-up your Purchase order with three lines - The first line being for
the total amount of the PO.
The other two lines put a qty of say (1) but, no price. When the first
Invoice comes in put the amount of the invoice on the second line of the
PO lower the first line by that amount and then you can *receive *in
line 2 of your PO. The next invoice is received do the same thing - put
that invoice amount on line 3 and lower line 1 on your PO and then
receive in line 3 of your PO. The final invoice comes in and you then
can receive line one of you PO. There will not be a purchase variance -
I used your example below.

Peggy Szymanski
Apex Piping Systems, Inc.







vanebewe wrote:

> Hi,
> We issue a PO for the costs associated with prepping a site
> installation. For one particular vendor, we issue a PO for the full
> cost and then when we are invoiced, we have our purchase
> dpt "receive" in the line item into Epicor so that we can properly
> match the receipt to hte invoice. There is no actual physical
> receipt of the item.
>
> However, the vendor typically sends us multiple invoices that make
> up the total PO cost. So for example: we have one line item on the
> PO for $25,000 but will receive 3 different invoices for $5,000,
> $10,000 and 10,000. When Purchasing receives in the line item, then
> that line item is no longer available for the other two invoices.
> Is there a certain way to handle this scenario? Typically, the
> original PO cost ends up being invoiced at that full cost, but just
> via multiple invoices. So we don't want any purchase price variances
> booked.
>
> Any suggestions would be great,
> Thanks in advance,
> -Vanessa
>
>
>
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[Non-text portions of this message have been removed]
2
Hi,
We issue a PO for the costs associated with prepping a site
installation. For one particular vendor, we issue a PO for the full
cost and then when we are invoiced, we have our purchase
dpt "receive" in the line item into Epicor so that we can properly
match the receipt to hte invoice. There is no actual physical
receipt of the item.

However, the vendor typically sends us multiple invoices that make
up the total PO cost. So for example: we have one line item on the
PO for $25,000 but will receive 3 different invoices for $5,000,
$10,000 and 10,000. When Purchasing receives in the line item, then
that line item is no longer available for the other two invoices.
Is there a certain way to handle this scenario? Typically, the
original PO cost ends up being invoiced at that full cost, but just
via multiple invoices. So we don't want any purchase price variances
booked.

Any suggestions would be great,
Thanks in advance,
-Vanessa
3
From what you described, we would probably handle this by paying the
first several invoices as advances and then matching only the last
invoice for the balance to the receipt.



-----Original Message-----
From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf
Of vanebewe
Sent: Tuesday, April 03, 2007 8:44 AM
To: vantage@yahoogroups.com
Subject: [Vantage] Question Re: Receiving in a line item in smaller
components

Hi,
We issue a PO for the costs associated with prepping a site
installation. For one particular vendor, we issue a PO for the full
cost and then when we are invoiced, we have our purchase
dpt "receive" in the line item into Epicor so that we can properly
match the receipt to hte invoice. There is no actual physical
receipt of the item.

However, the vendor typically sends us multiple invoices that make
up the total PO cost. So for example: we have one line item on the
PO for $25,000 but will receive 3 different invoices for $5,000,
$10,000 and 10,000. When Purchasing receives in the line item, then
that line item is no longer available for the other two invoices.
Is there a certain way to handle this scenario? Typically, the
original PO cost ends up being invoiced at that full cost, but just
via multiple invoices. So we don't want any purchase price variances
booked.

Any suggestions would be great,
Thanks in advance,
-Vanessa



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4
Thanks Sarah,

Would that create a purchase price variance since the final invoice
would be the only one matched the receipt and the $ amount wouldn't
match up?



--- In vantage@yahoogroups.com, <sarah.vareschi@...> wrote:
>
> From what you described, we would probably handle this by paying
the
> first several invoices as advances and then matching only the last
> invoice for the balance to the receipt.
>
>
>
> -----Original Message-----
> From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On
Behalf
> Of vanebewe
> Sent: Tuesday, April 03, 2007 8:44 AM
> To: vantage@yahoogroups.com
> Subject: [Vantage] Question Re: Receiving in a line item in smaller
> components
>
> Hi,
> We issue a PO for the costs associated with prepping a site
> installation. For one particular vendor, we issue a PO for the
full
> cost and then when we are invoiced, we have our purchase
> dpt "receive" in the line item into Epicor so that we can properly
> match the receipt to hte invoice. There is no actual physical
> receipt of the item.
>
> However, the vendor typically sends us multiple invoices that make
> up the total PO cost. So for example: we have one line item on the
> PO for $25,000 but will receive 3 different invoices for $5,000,
> $10,000 and 10,000. When Purchasing receives in the line item,
then
> that line item is no longer available for the other two invoices.
> Is there a certain way to handle this scenario? Typically, the
> original PO cost ends up being invoiced at that full cost, but
just
> via multiple invoices. So we don't want any purchase price
variances
> booked.
>
> Any suggestions would be great,
> Thanks in advance,
> -Vanessa
>
>
>
> Useful links for the Yahoo!Groups Vantage Board are: ( Note: You
must
> have already linked your email address to a yahoo id to enable
access. )
> (1) To access the Files Section of our Yahoo!Group for Report
Builder
> and Crystal Reports and other 'goodies', please goto:
> http://groups.yahoo.com/group/vantage/files/.
> (2) To search through old msg's goto:
> http://groups.yahoo.com/group/vantage/messages
> (3) To view links to Vendors that provide Vantage services goto:
> http://groups.yahoo.com/group/vantage/links
> Yahoo! Groups Links
>
5
> Would that create a purchase price variance since the final invoice
> would be the only one matched the receipt and the $ amount wouldn't
> match up?

To avoid this, you could set up the PO with a unit cost of $1 and the quantity
equal to the dollar amount of the full order.

When you receive an invoice for $10,000 you will receive 10,000 ($1) units. Do
this until the entire amount is used up.

Mark W.
6
To be honest, I am not an accounting type so couldn't tell you for sure
about a variance being created (I don't see any type of variance
transaction on the PO or on the job for these items but not sure if
that's where it would show up). We use deposit invoices all the time
because several of our major vendors require them and it has never been
an issue for our accounting department. You could test it in your test
system to make sure it does what you want.

-----Original Message-----
From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf
Of vanebewe
Sent: Tuesday, April 03, 2007 9:28 AM
To: vantage@yahoogroups.com
Subject: [Vantage] Question Re: Receiving in a line item in smaller
components

Thanks Sarah,

Would that create a purchase price variance since the final invoice
would be the only one matched the receipt and the $ amount wouldn't
match up?



--- In vantage@yahoogroups.com, <sarah.vareschi@...> wrote:
>
> From what you described, we would probably handle this by paying
the
> first several invoices as advances and then matching only the last
> invoice for the balance to the receipt.
>
>
>
> -----Original Message-----
> From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On
Behalf
> Of vanebewe
> Sent: Tuesday, April 03, 2007 8:44 AM
> To: vantage@yahoogroups.com
> Subject: [Vantage] Question Re: Receiving in a line item in smaller
> components
>
> Hi,
> We issue a PO for the costs associated with prepping a site
> installation. For one particular vendor, we issue a PO for the
full
> cost and then when we are invoiced, we have our purchase
> dpt "receive" in the line item into Epicor so that we can properly
> match the receipt to hte invoice. There is no actual physical
> receipt of the item.
>
> However, the vendor typically sends us multiple invoices that make
> up the total PO cost. So for example: we have one line item on the
> PO for $25,000 but will receive 3 different invoices for $5,000,
> $10,000 and 10,000. When Purchasing receives in the line item,
then
> that line item is no longer available for the other two invoices.
> Is there a certain way to handle this scenario? Typically, the
> original PO cost ends up being invoiced at that full cost, but
just
> via multiple invoices. So we don't want any purchase price
variances
> booked.
>
> Any suggestions would be great,
> Thanks in advance,
> -Vanessa
>
>
>
> Useful links for the Yahoo!Groups Vantage Board are: ( Note: You
must
> have already linked your email address to a yahoo id to enable
access. )
> (1) To access the Files Section of our Yahoo!Group for Report
Builder
> and Crystal Reports and other 'goodies', please goto:
> http://groups.yahoo.com/group/vantage/files/.
> (2) To search through old msg's goto:
> http://groups.yahoo.com/group/vantage/messages
> (3) To view links to Vendors that provide Vantage services goto:
> http://groups.yahoo.com/group/vantage/links
> Yahoo! Groups Links
>




Useful links for the Yahoo!Groups Vantage Board are: ( Note: You must
have already linked your email address to a yahoo id to enable access. )
(1) To access the Files Section of our Yahoo!Group for Report Builder
and Crystal Reports and other 'goodies', please goto:
http://groups.yahoo.com/group/vantage/files/.
(2) To search through old msg's goto:
http://groups.yahoo.com/group/vantage/messages
(3) To view links to Vendors that provide Vantage services goto:
http://groups.yahoo.com/group/vantage/links
Yahoo! Groups Links



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