Project:
| View Revisions: Issue #29728 | [ Back to Issue ] | ||
| Summary | 0029728: Purchase price differences need to be post to a PPV account for products valued at "Standard" cost | ||
| Revision | 2015-07-02 17:09 by aferraz | ||
| Steps To Reproduce | Work within an Organization that has an "Standard" Costing rule. Create a product named "Product Price Correction Standard". Add a purchase price list and enter a purchase price of 100.00 Unit Price=List Price. Go to Costing tab and enter a new record. Starting date: 01/01/2015 ending date 31/12/9999 Cost type: Standard Cost = 100 Manual = Yes Create a purchase order for this product of 5 units. Book the order. Go to Goods Receipt window and create a new receipt for the previous order. Complete it. Run Costing Background. Post it. Posting looks like: 500 (3500) Product Asset - Debit 500 (4009) Non-Invoiced Receipts - Credit Go to Goods Shipment window and ship 1 unit of this product. Complete it. Run Costing Background. Post it. Posting looks like: 100 (9990) Cost of Goods Sold - Debit 100 (3500) Product Asset - Credit Go to product window, transaction tab and realize that Goods Receipt transaction cost is 500.00. Goods Shipment transaction cost is 100.00. This is correct. Go to purchase invoice window and create a new invoice for a vendor by selecting either the order or the receipt previously created. Navigate to Lines tab and change the price to 150.00. Complete and post the invoice. Run Costing Background. Run Price Correction. Navigate to "Matched Invoice" window and realize that a transaction related to this product is created. Post it. Matched Invoice posting looks like: 500.00 (4090) Non-Invoiced Receipts - Debit 250.00 (9904) Invoice Price Variance - Debit 750.00 (6000) Product Expense - Credit A purchase price difference cost adjustment is created for the goods receipt of 25 (5 units x 5€/unit). This purchase price difference now is handle as a cost adjustment which can be posted affecting inventory value/accounting of the product which it is not correct, as the "Standard Cost" of the product remains as 100.00 which is correct. Purchase Price difference adjustment current posting looks like: 250.00 (35000) Product Asset - Debit 205.00 (99904) Invoice Price Difference - Credit. This is not correct, product asset account should not be used. Value Stock Report is also not correct because it shows below info: Product : Product Price Correction Standard Quantity: 4 Average Cost : 106.25 (525-100/4) - this is not correct. It should be 100.00 Valuation: 425 (106.25*4) - this is not correct. It should be 400.00 See issue 29731 |
||
| Revision | 2015-05-29 14:48 by psanjuan | ||
| Description | Purchase price differences need to be post to a PPV account for products valued at "Standard" cost | ||
| Revision | 2015-04-30 14:33 by psanjuan | ||
| Description | Purchase price differences must not trigger a cost adjustment and need to be post to a PPV account for products valued at "Standard" cost. | ||
| Revision | 2015-04-30 14:30 by psanjuan | ||
| Description | Purchase price differences must not trigger a cost adjustment and need to be post to a PPV account. | ||
| Revision | 2015-04-30 14:29 by psanjuan | ||
| Steps To Reproduce | Work within an Organization that has an "Standard" Costing rule. Create a product named "Product Price Correction Standard". Add a purchase price list and enter a purchase price of 100.00 Unit Price=List Price. Go to Costing tab and enter a new record. Starting date: 01/01/2015 ending date 31/12/9999 Cost type: Standard Cost = 100 Manual = Yes Create a purchase order for this product of 5 units. Book the order. Go to Goods Receipt window and create a new receipt for the previous order. Complete it and Post it. Posting looks like: 500 (3500) Product Asset - Debit 500 (4009) Non-Invoiced Receipts - Credit Go to Goods Shipment window and ship 1 unit of this product. Complete and Post it. Posting looks like: 100 (9990) Cost of Goods Sold - Debit 100 (3500) Product Asset - Credit Go to product window, transaction tab and realize that Goods Receipt transaction cost is 500.00. Goods Shipment transaction cost is 100.00. This is correct. Go to purchase invoice window and create a new invoice for a vendor by selecting either the order or the receipt previously created. Navigate to Lines tab and change the price to 150.00. Complete and post the invoice. Navigate to "Matched Invoice" window and realize that a transaction related to this product is created. Post it. Matched Invoice posting looks like: 500.00 (4090) Non-Invoiced Receipts - Debit 250.00 (9904) Invoice Price Variance - Debit 750.00 (6000) Product Expense - Credit A purchase price difference cost adjustment is created for the goods receipt of 25 (5 units x 5€/unit). This purchase price difference now is handle as a cost adjustment which can be posted affecting inventory value/accounting of the product which it is not correct, as the "Standard Cost" of the product remains as 100.00 which is correct. Purchase Price difference adjustment current posting looks like: 250.00 (35000) Product Asset - Debit 205.00 (99904) Invoice Price Difference - Credit. This is not correct, product asset account should not be used. Value Stock Report is also not correct because it shows below info: Product : Product Price Correction Standard Quantity: 4 Average Cost : 106.25 (525-100/4) - this is not correct. It should be 100.00 Valuation: 425 (106.25*4) - this is not correct. It should be 400.00 See issue 29731 |
||
| Revision | 2015-04-30 14:29 by psanjuan | ||
| Description | Purchase price differences must not trigger a cost adjustment and need to be posted to a PPV account. | ||
| Revision | 2015-04-29 12:50 by psanjuan | ||
| Steps To Reproduce | Work within an Organization that has an "Standard" Costing rule. Create a product named "Product Price Correction Standard". Add a purchase price list and enter a purchase price of 100.00 Unit Price=List Price. Go to Costing tab and enter a new record. Starting date: 01/01/2015 ending date 31/12/9999 Cost type: Standard Cost = 100 Manual = Permanent = Yes Create a purchase order for this product of 5 units. Book the order. Go to Goods Receipt window and create a new receipt for the previous order. Complete it and Post it. Go to Goods Shipment window and ship 1 unit of this product. Complete and Post it. Go to product window, transaction tab and realize that Goods Receipt transaction cost is 500.00. Goods Shipment transaction cost is 100.00. This is correct. Go to purchase invoice window and create a new invoice for a vendor by selecting either the order or the receipt previously created. Navigate to Lines tab and change the price to 105.00. Complete and post the order. A purchase price difference is created for the goods receipt of 25 (5 units x 5€/unit). This purchase price difference now is handle as a cost adjustment which can be posted affecting inventory value/accounting of the product which it is not correct, as the "Standard Cost" of the product remains as 100.00 which is correct. Current posting looks like: 25.00 (35000) Product Asset - Debit 25.00 (99904) Invoice Price Difference - Credit. This is not correct, product asset account should not be used. Value Stock Report is also not correct because it shows below info: Product : Product Price Correction Standard Quantity: 4 Average Cost : 106.25 (525-100/4) - this is not correct. It should be 100.00 Valuation: 425 (106.25*4) - this is not correct. It should be 400.00 See issue 29731 |
||
| Revision | 2015-04-29 12:49 by psanjuan | ||
| Steps To Reproduce | Work within an Organization that has an "Standard" Costing rule. Create a product named "Product Price Correction Standard". Add a purchase price list and enter a purchase price of 100.00 Unit Price=List Price. Go to Costing tab and enter a new record. Starting date: 01/01/2015 ending date 31/12/9999 Cost type: Standard Cost = 100 Manual = Permanent = Yes Create a purchase order for this product of 5 units. Book the order. Go to Goods Receipt window and create a new receipt for the previous order. Complete it and Post it. Go to Goods Shipment window and ship 1 unit of this product. Complete and Post it. Go to product window, transaction tab and realize that Goods Receipt transaction cost is 500.00. Goods Shipment transaction cost is 100.00. This is correct. Go to purchase invoice window and create a new invoice for a vendor by selecting either the order or the receipt previously created. Navigate to Lines tab and change the price to 105.00. Complete and post the order. A purchase price difference is created for the goods receipt of 25 (5 units x 5€/unit). This purchase price difference now is handle as a cost adjustment which can be posted affecting inventory value/accounting of the product which it is not correct, as the "Standard Cost" of the product remains as 100.00 which is correct. Current posting looks like: 25.00 (35000) Product Asset - Debit 25.00 (99904) Invoice Price Difference - Credit. This is not correct, product asset account should not be used. Value Stock Report is also not correct because it shows below info: Product : Product Price Correction Standard Quantity: 4 Average Cost : 106.25 (525-100/4) - this is not correct. See issue 29731 |
||
| Revision | 2015-04-29 12:43 by psanjuan | ||
| Steps To Reproduce | Work within an Organization that has an "Standard" Costing rule. Create a product named "Product Price Correction Standard". Add a purchase price list and enter a purchase price of 100.00 Unit Price=List Price. Go to Costing tab and enter a new record. Starting date: 01/01/2015 ending date 31/12/9999 Cost type: Standard Cost = 100 Manual = Permanent = Yes Create a purchase order for this product of 5 units. Book the order. Go to Goods Receipt window and create a new receipt for the previous order. Complete it and Post it. Go to Goods Shipment window and ship 1 unit of this product. Complete and Post it. Go to product window, transaction tab and realize that Goods Receipt transaction cost is 500.00. Goods Shipment transaction cost is 100.00. This is correct. Go to purchase invoice window and create a new invoice for a vendor by selecting either the order or the receipt previously created. Navigate to Lines tab and change the price to 105.00. Complete and post the order. A purchase price difference is created for the goods receipt of 25 (5 units x 5€/unit). This purchase price difference now is handle as a cost adjustment which can be posted affecting inventory value/accounting of the product which it is not correct, as the "Standard Cost" of the product remains as 100.00 which is correct. Current posting looks like: 25.00 (35000) Product Asset - Debit 25.00 (99904) Invoice Price Difference - Credit. This is not correct, product asset account should not be used. |
||
| Revision | 2015-04-29 12:43 by psanjuan | ||
| Description | [Cost Adjutments] - Purchase price differences must be post to a "PPV" account (Produc Price Diferences) instead of an "Asset" account for Standard Cost. | ||
| Revision | 2015-04-29 11:58 by psanjuan | ||
| Steps To Reproduce | to be defined | ||
| Revision | 2015-04-29 11:58 by psanjuan | ||
| Description | [Cost Adjutments] - Purchase price differences must be post to a "PPV" instead of an "Asset" account for Standard Cost. | ||
| Copyright © 2000 - 2009 MantisBT Group |
 |