How PO Status Affects the GL

Back Top Previous Next

Following is an outline of how the general ledger accounts are affected at each stage of the purchase order process.

1.The first thing to look at is the Stock GL Group the stock is linked to.

In this example, the stock code EQUIPMENT is linked to a Stock GL Group called Equipment.

POGL

2.Then, go to Tools > Setups > Stock GL Groups > Equipment, to see which GL accounts will be impacted when this stock is used.

stockgl

3.Purchase Order Status is changed from Booked to Received.

POrec

At this point there will be a debit to the temporary stock on hand GL account (Asset 1-XXXX Stock on Hand - POs on Received)and a credit to the temporary creditors GL account. (Liability 2-XXXX Temp Creditors - POs on Received) At this point, stock is available to be used/sold.

porec1

4.Finalise the Purchase Order.

When you change the Status of a PO to Finished, this will move the figures from the temporary GL accounts to the actual stock on hand/trade creditors GL accounts, as shown in Tools > Setups >.Accounting > Stock GL Groups for that group. This information can be found via Accounts > Transaction Journal.

transjnl

Further information

Purchases Security

Expenses at a Glance

Purchases at a Glance

Debtors Purchase Orders

Expenses Tab on PO's

How Does Cost of Goods work

Purchase/Expense Comment Grid

Purchase/Expense Order Footer

Purchase/Expense Order Header

Purchases/Expenses Status

Purchase/Expense Preview Pane

Purchase/Expense List Header

Purchase/Expense Order List

Purchase/Expense Order Reports

Purchase Order Stock Grid

Manufacturing Purchase Orders

Opening Balance Purchase Order

How to

Add a Document to a Purchase/Expense Order

Add a Negative Expense Order

Add a Purchase Order

Add an Amount to a PO when Finished at $0

Add an Expense Order

Add Comments to a Purchase Order

Add Freight to a Purchase Order

Add Purchase Back order

Add Stock to a Purchase Order

Add Vendor Discount

Auto Create a Purchase Order

Create a PO from a Similar or Previous PO

Create a PO Template

Create a purchase order list

Employee Reimbursements

Enter Serial Numbers

Expense Order Stock Grid

Fix Incorrect Pricing after PO on Finished Status

Link Expenses to a Purchase Order

Link a Job to a Purchase Order

Print a Purchase/Expense Order

Progress Payments on Purchase Orders

Purchase an Asset Under Finance

Purchase Consignment Stock

Receive Consignment Stock

Record One Invoice number on Multiple Purchase Orders

Record Overseas Purchases, GST and Import Costs

Return to Vendor

Round up Supplier Invoices

Scan Stock into Purchase Orders

Staff Purchases

Unprint Purchase/Expense

Vendor Price Breaks

View or Edit a Purchase/Expense