Consider we have Purchase Order created with 1000$. After 10 days Purchase Invoice comes with 1100$.
1-How can I recalculate Inventory Valuation? ( I know LCM work around is available but it is not linked to Purchase Invoice. Is there any standard solution?)
2-How can I close the Invoice account and Landed Cost account? any automatic solution?
Thanks in advance
May a Purchase Receipt, then Landed Cost Voucher before the Purchase Invoice be used?
Anyway you can not link Landed Cost to Purchase Invoice.
I am looking for a solution to link them and writeoff accounts
In Landed Cost Voucher, Receipt Document Type , one can choose Purchase Receipt or Purchase Invoice.
On a Purchase Invoice, More Information a new account may be created.
On Landed Cost Voucher, a new expense account may be created.
I may not fully understand the business process. This link may be helpful, if you havent seen it already.:
Thanks for your reply.
Actually I need to add Invoice Price Variance (100$ in our example) as a extra charge to my Purchase Receipt and consequently update the inventory value by increasing 100$
I created a PO and then tried to change the Item Price by Inr 100 in a Purchase Receipt and the message appears:
Changing the buying settings to disable Maintain same rate does allow the price of the Item to be changed in the Purchase Receipt. . However it isn’t clear if the variance needs to be added separately as an added cost with regard to the Item, and if that cost has to be considered separately in the Landed Cost Voucher expense accounts.
In real world you need to increase Invoice Price by 100$.
and later add the extra amount of invoice as an Expense in Landed Cost Voucher.
But in Expense table in Landed Cost you don’t have option to select Invoice.
In Landed Cost Voucher, click on Receipt Document Type row and select Purchase Receipt or Puchase Invoice, then the Receipt Document column to select the receipt or invoice. What I may be missing is that the price of an item may not have changed, rather an additional cost must be added to the invoice and that cost allocated to an expense account on the applicable charges section of the voucher.