Thursday, November 19, 2009

Understanding Purchase Return in Dynamics GP.

In Dynamics GP for Purchase Return available 4 options, which option should I select to make Purchase Return?

Let see
1) Return
2) Return with Credit
3) Inventory
4) Inventory With Credit

1) Return
Select “Return” type when you received the Item and it’s not Matched to Invoice. Vendor Credit is not applied with above type.

Distribution:
Inventory A/c Cr $ XXX
Accrued Purchase A/c Dr $ XXX

2) Return With Credit
Select “Return with Credit” option when Item is Received and Matched to Invoice. Vendor Credit is applied.

Distribution:
Inventory A/c Cr $ XXX
Accounts Payable A/c Dr $ XXX

Above Entry will applied to your GL as well as Vendor Balance

3) Inventory
When should user select the above option?
a) When there is No Receipt or Matched Invoiced that means if user enter Inventory Adjustment from Inventory Transaction((Transaction-->Inventory-->Adjustment) and want to make Return Entry against those Adjustment
b) Variance Transaction (Transaction-->Inventory-->Variance)

Again Vendor Credit is not applicable; Inventory On Hand Qty will reduce.

Distribution:
Inventory A/c Cr $ XXX
Accrued Purchase/Wastage A/c Dr $ XXX

4) Inventory w/Credit
On Same “Inventory” scenario for “Inventory w/Credit” option but Vendor Credit are applicable.

Your Distribution will look like:
Inventory A/c Cr XXX
Accounts Payable Dr XXX

Above Entry will affect only your GL balance to get applied against your Vendor Balance
do not forget to apply your Return with Vendor Invoice (Transaction-->Purchasing-->Apply Payable Documents”)

Option 3 and 4 i.e. “Inventory” and Inventory w/Credit can be applied for your Opening Qty return.


Friday, November 6, 2009

Change Default Check No On Remittance for Zero Dollar Check

Articel from Microsoft about "How to Change the Default Check Number Printed on Remittances for Zero Dollar Checks in Payables Management for Microsoft Dynamics GP"

here is the Partners Link : https://mbs.microsoft.com/partnersource/deployment/documentation/howtoarticles/msdgpremittzero.htm?r=5

Thanks
Sandip