Vendor Charges video2
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Nov 29, 2024
Vendor Charges video2
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0:08
hi everyone
0:10
in this video i am going to explain
0:12
about uh
0:15
charge setup and functionality in
0:17
different scenario so in our last video
0:21
we discussed about
0:23
when the
0:24
vendor is same and vendor is same
0:28
and same vendor is providing
0:31
charges and as well as product
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and we are treating that transport
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charges as an expense
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so at that time what is the setup and
0:41
what will be the entry that we discussed
0:44
in the last video
0:45
coming to second scenario
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second scenario is that
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some x vendor is providing products to
0:55
us
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same vendor is providing transport as
0:58
well
0:59
like previous scenario as well
1:01
but in previous scenario we treated the
1:05
transport expenses as in
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transport charges or flight charges
1:10
anything we treated as an expense but in
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this case we are treating the transport
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expenses also
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uh we are adding to that inventory not
1:21
we are treating that as
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uh expense so that is the scenario
1:27
in this situation
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we have um we have a requirement that
1:32
whatever the transport charge is
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provided by the window
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that needs to go to inventory and that's
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needs to be added to inventory cost
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so that is the uh
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requirement first so for that i am going
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to d365
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i'll create one more charge code
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so taking new
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and i am giving like
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same window
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[Music]
2:21
and
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inventory
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so treating as an inventory same window
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so ledger account
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so debit will be what we are
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what is our aim
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so debit supposed to be
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item so we are adding the transport
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charges also to the inventory so that is
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our aim
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so debit is item
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credit what is
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credit it's supposed to go
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to
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that particular window as a liability
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so this is the setup required
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for this scenario
3:00
let's go and do the purchase order
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will create one purchase order
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will create one purchase order
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so that
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will
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we have already did
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set up for the scenario
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so we are going to create
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purchaser
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so new purchaser
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so taking
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same way as morning what we did i'm
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taking
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vendor as one double zero one
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clicking ok
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so taking the item
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so one triple zero i am taking and site
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i am selecting it
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it's mandatory setup
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so then
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i'm providing the unit price as 2000
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and in the purchase tab
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i'm selecting maintain charges
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we are going to
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map the charge code
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so
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what is the charge code trials
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charge 2
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and charges i am taking as
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100
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closing this
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so allocate charges
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anyway we are going with a single line i
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am taking
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for all only so i am not going in that
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way
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so in this
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let's confirm this purchase order
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so there is
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some error that says
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what
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charges has not been allocated
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okay
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so which are just not allocated
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we need to allocate
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i'm
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selecting all lines and allocating the
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charges
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and confirming the purchase order
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once it confirm
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i need to post product receipt entry
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so i am giving product receipt as 11 21
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20 21
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dash
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2.
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then
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selecting the lines
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so again we got some more
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some other arrow
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inventory dimension where house must be
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filled in
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no worries
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we'll do it
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so site we have selected and warehouse
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part is selected
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let's take
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something
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so purchase order not updated
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i think
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so
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maybe
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we have changed something in the
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purchase order so we need to confirm
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again
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then
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booking the product receipt
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1121 to d21
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iphone 2.
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so
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it's completed now
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if you check product receipt
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entry has been booked for the product
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received
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this is the entry
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and
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so charges will be applicable
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at the time of invoice
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so there is no entry at the time of
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product receipt
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so let's post
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invoice
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so invoice number i am providing
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and
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update match status
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it has been passed
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and i'm posting the invoice entry
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so invoice has been posted
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see
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so here
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we have given
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amount
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sorry once we
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uh second time confirmed the unit price
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has been changed to eight double nine
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so
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it's okay uh
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so for example eight double is the unit
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price
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and 100 is
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invented
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sorry charges
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so that's why
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uh
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it has been booked
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line for the vendor balance
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and
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and cost of purchasing material triple
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nine
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so it's supposed to book to inventory
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right
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so it's proved to inventory at triple
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line cost
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and its book to inventory
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this is reversal of pro
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product receipt entry
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no need to check this only these two
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lines are relates to
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uh invoice at the time of invoice 899 is
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the unit price and 100 is charges
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through so triple nine its books to
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vendor credit
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and triple nine it's booked to cost of
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purchasing material invoiced
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okay
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so
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this is the way where we can set up the
14:00
setup and post the charges
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when the requirement is that like
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a same window provided the transport
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charges transport facility also for our
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products and he is charging
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charging for the transport charges that
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we are booking as an inventory that we
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are adding to that inventory particular
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inventory so at that time this is the
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setup and this is the way to
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this is the way to book the entries
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so that's
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about
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second scenario we'll discuss third
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scenario in next coming
#Accounting & Auditing
#Billing & Invoicing
#Business & Industrial
#Chartered Transportation Rentals
#Shipping & Logistics
#Warehousing