{"id":5772,"date":"2013-12-31T07:49:43","date_gmt":"2013-12-31T07:49:43","guid":{"rendered":"http:\/\/www.greytrix.com\/blogs\/sageaccpacerp\/?p=5772"},"modified":"2013-12-31T07:49:43","modified_gmt":"2013-12-31T07:49:43","slug":"ic-receipts-functionality-in-sage-300-erp","status":"publish","type":"post","link":"https:\/\/www.greytrix.com\/blogs\/sageaccpacerp\/2013\/12\/31\/ic-receipts-functionality-in-sage-300-erp\/","title":{"rendered":"I\/C Receipts Functionality in Sage 300 ERP"},"content":{"rendered":"

Sage Accpac 300 ERP offers an option for Receipts<\/b> in Inventory Control module for those Inventory Receipts which are not routed through the Purchase Module.<\/p>\n

When a Company does not have a Purchase Orders<\/b> module and still wishes to receive the Materials into the Inventory from the Vendor, they can make use of I\/C Receipts.<\/p>\n

Note:<\/i><\/b> Unlike PO Receipts system will not Auto Apply Tax portion and that has to be taken care of while raising A\/P Invoice.<\/i><\/p>\n

I\/C Receipts can be made in Functional or Source Currencies based on the actual Purchase currencies. If you have defined Vendors in AP Module then those can also be tagged in the I\/C Receipt screen along with the additional cost which was incurred in the Purchase.<\/p>\n

The additional cost will get prorated on the Items which are selected in the detail line.<\/p>\n

Note:<\/i><\/b> The additional cost currency must be the same as either the receipt currency or the company\u2019s functional currency.<\/i><\/p>\n

Below is the screenshot of I\/C Receipt for your ready reference.<\/p>\n

\"IC<\/a><\/p>\n

New stuff:\u00a0<\/strong><\/em>How to Solve GL Error Batch in Sage 300 ERP<\/a><\/p>\n

Once you post the I\/C Receipt following G\/L effect will take place.<\/p>\n

\"1\"<\/a><\/p>\n

Going forward the Second step will be to book Accounts Payable Invoice in order to zero out the Payable Clearing account. Below will be the G\/L effect once you post the A\/P Invoice.<\/p>\n

\"2\"<\/a><\/p>\n

Apart from the above we can even execute the following feature
\n\u00a01.<\/strong> Adjust (Increase\/Decrease) the cost of the I\/C Receipt posted earlier instead of making a new entry altogether.\"IC<\/a><\/p>\n

Following will be the G\/L effect once this entry is posted in case the adjustment is of type Increase.<\/p>\n

\"3\"<\/a><\/p>\n

2.<\/strong> Return the materials back to the Vendor from the Inventory against the I\/C Receipts.
\nThis will Credit Inventory and Debit Payable clearing Account.<\/p>\n

\"IC<\/a><\/p>\n

Below will be the G\/L effect after this posting.<\/p>\n

\"4\"<\/a><\/p>\n

This is how I\/C Receipts can serve multiple functionalities and are effective for Inventory Management especially in the absence of a Purchase Order Module.<\/p>\n

Note:<\/i><\/b> After this user has to book an A\/P Credit Note against the particular I\/C Receipt and selecting the same Payable Clearing account at the detail level.<\/i><\/p>\n

Also read:<\/strong><\/p>\n

1.<\/strong>\u00a0How to handle Inventory Receipt in Sage 300 ERP?<\/a>
\n2<\/strong>.\u00a0How to Record Internal Usage (Consumed) Entry in Sage 300 ERP<\/a>
\n3<\/b>.\u00a0Adjustment Entry in Inventory Control<\/a>
\n4.\u00a0<\/strong>Different Costing methods in Sage 300 ERP<\/a>
\n5<\/strong>.\u00a0Set Fractional Quantities in Sage 300 ERP<\/a><\/p>\n

\n","protected":false},"excerpt":{"rendered":"

Sage Accpac 300 ERP offers an option for Receipts in Inventory Control module for those Inventory Receipts which are not routed through the Purchase Module. When a Company does not have a Purchase Orders module and still wishes to receive the Materials into the Inventory from the Vendor, they can make use of I\/C Receipts.\u2026 Read More »<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[1030,1206,1207,1212,1213,2357],"class_list":["post-5772","post","type-post","status-publish","format-standard","hentry","category-sage-accpac","tag-gl-effects","tag-ic-adjustment-entry","tag-ic-goods-receipt","tag-ic-receipts","tag-ic-return-entry","tag-sage-300-erp"],"yoast_head":"\nI\/C Receipts Functionality in Sage 300 ERP - Sage 300 ERP \u2013 Tips, Tricks and Components<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.greytrix.com\/blogs\/sageaccpacerp\/2013\/12\/31\/ic-receipts-functionality-in-sage-300-erp\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"I\/C Receipts Functionality in Sage 300 ERP - Sage 300 ERP \u2013 Tips, Tricks and Components\" \/>\n<meta property=\"og:description\" content=\"Sage Accpac 300 ERP offers an option for Receipts in Inventory Control module for those Inventory Receipts which are not routed through the Purchase Module. 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