Receiving Inspection Account (Doc ID 2173741.1)

Last updated on AUGUST 22, 2023

Applies to:

Goal

Would like to know whether the receiving inspection account plays a role in period end accrual. Setup receipt accounting to happen at the time of period end.

Ran the following processes:

1. Transfer costs to cost management
2. Transfer transactions from receiving to costing
3. Create Uninvoiced Receipt Accruals
4. Create Accounting

When the entries were generated, the system created 2 entries.

1st entry during the end of closed period:

Expense Account Debit XX
Expense Accrual Account Credit (XX)

2nd entry during the beginning of next period:

Expense Accrual Account Debit XX
Expense Account Credit (XX)

Would like to know when does receiving inspection account come into picture? All our procurement items are of type "Expense" and there is are no inventory items.

 

Solution

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