How to update purchase receipt incoming rate after MAT-PRE & PINV submitted

1

Question:
What is the best way to update the incoming rate for many purchase receipt stock entry data? The Purchase order, purchase receipt and purchase invoice have all been submitted

Background info:
Many of my ongoing transactions have different rate in Purchase invoice compared to Purchase Order
I would like to use the purchase invoice rate as the stock incoming rate, but by default erpnext uses purchase order rate. And thus all my previous purchase receipt stock entry are using the wrong rate

Previously I have also not enabled “Set Landed Cost Based on Purchase Invoice Rate” option in Buying settings

Would appreciate your suggestions
Thank you

2

Hi,

To correct the previous entries, you can book the Landed cost voucher for the difference amount.

https://docs.erpnext.com/docs/user/manual/en/landed-cost-voucher

Regards,

Divyesh Mangroliya

3

Dear @bobotto , I cannot see this option in my buying settings. Can you share a screenshot of the same?

4

Hi @bobotto ,

You can directly create a landed cost voucher and select receipt or Invoice in Landed cost voucher document.

Thanks

5

in buying setting > transaction setting
PS: i am using v14

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6

I am confused what “Expense Account” to choose

My case is such:

  • purchase order is rate of $10.00
  • purchase invoice is rate of $9.00

My P-INV rate is lower than PUR-ORD
What expense account should I charge it to?
I would like to reduce the valuation rate of the item

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7

Hi @bobotto ,

You have to choose Expense Included in Valuation account.