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Fastbase Accounting System - Online Manual

Invoice Goods Receipts/Credits

Document 103303/1

Entered Mon, 26 May 2003 16:22 by
Updated Mon, 14 Aug 2006 14:20

Go to Purchasing -> Invoice Goods Receipts/Credits.

This option is used to locate goods receipt transactions and generate the supplier invoices for them.

First you must locate the goods receipt (or credit) transaction:

Goods Receipt No.:
Purchase Order:
Supplier Ref:
Enter any of the above details to match the goods receipt transactions.

Starting Date:
Enter the starting date to search from. This defaults to the start of the current inventory period.

If you cannot find the transaction you are looking for try entering fewer details in the fields above. Just enter the supplier number. Also check the starting date. If unsure enter an earilier date.

If you want to display all active goods receipt/credit transactions leave all search fields blank and click on the "Search" button.

When the goods receipt transactions are displayed select the one you wish to invoice.


A screen will appear showing all the invoices and journals being posted for this goods receipt/credit. If changes need to be made, click on the "Maintain Goods Receipt" button. Check all the details with your paper work. If ok then click on the "Generate Invoice" button.

You can check each individual invoice and the postings to be made by selecting any invoice/journal on this screen before selecting the generate button.

Double check that each invoice is 100% accurate - correct currency, correct date, correct totals etc. These details cannot easily be changed once you've generated the final invoices.
You can enter a 'Tax Adjustment' value on local currency invoices when small rounding errors occur.

Various control accounts need to be specified for the generation of supplier invoices and journals to be created. See Utilities - Module: Accounts Payable and Utilities - Module: Inventory for configuration settings (control accounts).

Supplier Invoice and General Ledger Journal transactions are created as part of this process.

Goods In Transit

Document 103303/2

Updated Mon, 7 Aug 2006 15:30

(Handling of Pre-Paid Shipments)

Where a shipment is prepaid the supplierÂ’s invoice is manually entered into the system and coded to the system goods in transit account. The invoice is then paid in the normal manner. See Supplier Payments for details.

On physical receipt of the goods a goods receipt is generated as normal. On confirmation of the goods receipt the system creates a GL journal debiting stock on hand and crediting goods in transit for the value of the stock. The value posted is the net cost of the stock, not the landed cost.

The general ledger journal in effect reverses the posting from the suppliers invoice out of the goods in transit account and transfers it into the stock on hand account.

To utilise this feature you must set the Pre-paid Shipment? flag to yes on each effected goods receipt. See New Goods Receipt for more details.

The pre-paid shipment option will only be available if a "Goods in Transit" account has been specified. See Utilities - Module: Inventory for more details.

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