Hi Team,
We have recently gone live, and during initial transactions, we observed an issue. Out of the first five purchase returns processed for rejected items, the system is posting incorrect accounting entries
When we create a purchase return for a rejected item, the system is currently posting a COGS entry against the GR/IR account.
In the Buying settings, we have enabled the option -Set Valuation Rate for Rejected Materials.
After enabling this, the valuation rate should be considered for rejected items, and the system should not post any COGS entry. Instead, in the return document, the system should post a **debit to the GR/IR Account and a credit to the Stock-in-Hand Account. **
volkswagner,
this tick is already enabled,
yes, we will create debit note (return purchase invoice) from the return purchase receipt,
entries should be like below
Return purchase receipt
GR/IR AC Dr
Stock in hand Ac Cr
Return Purchase invoice
Creditors AC Dr
GR/IR AC CR
