Financial processes in the Purchasing module
Various financial processes occur in the Companies, Purchase Requisitions, Purchase Orders, Receiving, and Invoices applications.
- Financial processes in the Companies application
In the Companies application, the GL account fields, AP Control Account RBNI Account, and, Suspense Account default according to company type that is specified in the Company Type field. - Financial processes in the Purchase Requisitions application
You can select several material and service requisition actions from the PR Lines tab in the Purchase Requisitions application, that cause GL account transactions to be written. - Financial processes in the Purchase Orders application
The Material Orders from External Vendor action that is selected from the PO Lines tab in the Purchase Orders application, causes GL account transactions to be written. - Receiving application
The Receiving application is used to process receipts for materials. - Shipment Receiving application
A shipment record is used to transfer a shipment between two storerooms when an intermediary, such as a shipper, is used. Shipment records are created using the Inventory Usage application and receipts are created against these records using the Shipment Receiving application. - Financial processes in the Invoices application
Although records might be created to establish GL accounts, no general ledger transactions occur until you approve the invoice. Upon invoice approval, many transactions can occur. - Tax transactions
An invoice can include tax. If so, in addition to the transaction of TRANSTYPE = TOTAL, a transaction is written to the INVOICETRANS table with TRANSTYPE = TAXn, where 1 ≤ n ≤ 27. The value of n depends on which tax type you selected for the tax in the Chart of Accounts application. - Cost variance transactions
If time lapses between receiving the item and approving the invoice, the cost associated with the invoice line might differ from the cost of the item at receipt.
Parent topic: Financial processes reference