Dynamics GP Three-Way Match Process or, How I Learned to Love My Purchase Accrual Account
published December 9, 2008
A significant number of clients that I've worked with in the past (and present) have a tough time wrapping their brains around the Purchase Accrual account and how it is interrelated with receiving and invoicing of purchased goods. This lack of clarity results in unreconciled accounts, duplicate postings to inventory and expense accounts, and an accountant's worst nightmare if allowed to go unchecked for very long.
This column is an attempt to help clarify the Purchase Accrual concept and point out the necessity of keeping it reconciled with the Received not Invoiced report and/or SmartList.
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