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Working with Item Receipts |
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Topic: Purchasing
The Item Receipt is specifically used to record Items received from a Supplier before the Bill (i.e. the Supplier Invoice) is received. In this respect the Item Receipt is very much like the Bill.
When the Bill has finally been received the Item Receipt can be converted to a Bill. This is an actual conversion, rather than a copy.
Just like a Bill the Item Receipt indicates the quantities of products and services, their respective price(s) and the amount or balance owed by you. The Item Receipt contains the payment terms agreed by you with the Supplier stipulating by when (Due Date) the balance is due to be paid.
NOTE: Unlike a Sales Invoice, an Item Receipt Document is typically not issued to the Supplier. It is simply used to record the transaction. This ensures you have a record of what you owe, and that your accounts are correct.
NOTE: Unlike a Bill the Item Receipt does not affect the associated Supplier balance. Moreover rather than posting to Accounts Payable the Item Receipt posts to the Pending Item Receipts liability account which is specified in the Accounts Configuration.
Prerequisites Using salesorder.com the basics Working with Transactional Documents
Creating a new Item Receipt See Creating new Transactions and Entering Line Items for the basic information.
Item Receipt Key Facts
Related tasks and information Configuring Transactional Documents Entering Billing/Shipping addresses Working with Payments to Suppliers (Money Out) Working with Supplier Credit Notes
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