Program Description
This program can be found on the Purchase Order Reports menu (PO-4-6). The main purpose of the report is to monitor the items on purchase orders that have been invoiced through the Accounts Payable invoicing programs or entered on a prepaid purchase order, and the merchandise has not been received into inventory through P.O. Receipts. The merchandise has been invoiced, but not received. This is important to monitor, since most companies do not want to invoice items they have not received. It is also possible that the merchandise has been physically received at your site, but no one has entered the receipt into P.O. Receipts. Another reason to monitor invoiced items with no receipts is to keep the General Ledger accurate. The receipt of the items and the invoices should be entered into the system in the same accounting month. When this is done, Inventory Valuation Reports will reconcile with the General Ledger. When prepaid purchase orders are entered, there will be no linking of the Accounts Payable invoice to the purchase order. The assumption is made that a prepaid purchase order has already been invoiced. There is no need to link the purchase order to the Accounts Payable invoice, since there is no need for receipt versus actual cost analysis. When a prepaid purchase order is entered, a Pending File is immediately created. The items on the purchase order print on the Pending Receipt Report upon creation of the purchase order. The Pending Receipt Report is the best way to monitor whether the items on a prepaid purchase order have been received.
Pending Files are created or updated when the items are received into inventory through P.O. Receipts. They are also updated or created when A/P invoices are entered through A/P Invoice Entry or Manual Check Entry. If a Pending File is found for an item and there is an invoiced amount and date, but no corresponding received amount and date, the item appears on the Pending Receipt Report. Once the item is received for the same quantity as the invoiced amount, the item is removed from the Pending Receipt Report and is included on the Variance Report. Prepaid purchase orders create a Pending File when the purchase orders are entered and are created with an invoice date and amount. That is why items on prepaid purchase orders appear on the Pending Receipt Report immediately upon entry and remain until the receipt is entered. Items can be selected on the Pending Receipt Report by specific, range, or all receiving warehouses, product classes, item numbers, purchase order numbers and the invoiced dates. This allows you to be specific on the population included on the report. There is also an option to only include prepaid purchase orders. The report includes the extended invoiced cost of the items that are invoiced or prepaid but not received. This provides an estimated cost of what is yet to be received into inventory. It is recommended the Pending Receipt Report be run on a consistent basis. However, it is highly recommended that it is printed with the End of Month Procedures.
Results
Rev 13 Changes
With the addition of the ability to override the item description on the purchase order, a change was made to print the overridden item description of the line items where the description was overridden. If the description was not overridden, the item description from the Item data file (ITEM) will print.