Coding to the Inventory Accountâ€¦ from AP! #SupplyChainWeek
It happens way more often than organizations realize. Invoices get coded directly to the inventory account â€“ which is no Bueno when we are talking about a balance sheet GL account that is purportedly supposed to tie to a sub system (and that system is IC, not AP!)
So why do we see directly Coded Invoices and Credits for Inventory Items in the first place? Donâ€™t inventory items need to come through a PO to be received in as Inventory in the first place? Yes, they sure do!
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Written: Friday, September 30th, 2016