For additional support and an in-depth conversation about this function and its purposes, please feel free to connect with our Consulting team at (855) 227-0700 or vial e-mail at Sales@CBRTechnology.com .
The Inventory module setup window is EXTREMELY important the setup here can impact your system’s performance significantly.
When you receive a Purchase Order, the system will prompt you whether or not you are receiving the purchase order, processing an invoice for the goods received or dop both at the same time. If your organization always received the Goods with the invoice and you always process both at the same time, this setting will have no impact on your system.
If you turn this feature ON, you can never turn it OFF again without causing problems in your items cost valuation database. This is why Microsoft has it turned OFF by default.
If it is turned on, the following will occur, with regards to General Ledger:
Create a Purchase Order and release it – No Impact on the GL
Receive a PO Line item – Inventory Asset Account – Debit, Purchase Order Liability Account – Credit
Receive the Invoice for the Items received – PO Liability Account – Debit, Accounts Payable – Credit
If this switch is turned ON, the system will perform all three steps. If this switch is turned OFF, the system will skip Step 2 and only performs step 1 and 3. Ideally, proper selection should be chosen when you start using the system. If you have been using the system with the switch OFF, you can change it, but you must first receive all open PO receivers and post a matching Purchase Invoice. When there are no further transactions that have been received, but not yet invoiced, you can switch this function ON. Once you turn it ON, you can NEVER turn it off again.
The Inventory Posting Setup has to be configured properly to post to a correct PO Liability account if you wish to use this part of the system. If you do not have the proper Liability account and you need to create a new one, please remember to update your Account Schedules as well.
Please be very careful in this part of the system as the settings of the inventory setup window can be mission-critical. We always recommend that you consult a Business Central (Dynamics NAV) Partner as they are well experienced in this part of the system.
Call us at Tel. (855) 227-0700 with any questions.
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