Exercise: Receipts and Returns
In this exercise, you receive and return purchased items. You also look at how a purchase receipt affects inventory, receivers, and the general ledger.
1 Use Stock Availability Browse (3.17) to view the current on-hand balance of item 60002.
2 Use Purchase Order Receipts (5.13.1) to receive a quantity of 65 of item 60002 on the purchase order you created in the previous exercise. (Make sure Receive All is set to No.)
Since the order has not been filled, it remains open on the system with the quantity remaining to be received.
3 Use Stock Availability Browse (3.17) to review the effect the receipt had on the inventory balance of your item. Note the balance.
4 We made a mistake when entering the receipt quantity. It should have been 60, not 65. Use Purchase Order Receipts (5.13.1) to correct this by entering a receipt for -5 against the original purchase order.
5 Use Stock Availability Browse (3.17) to check the inventory balance to verify that it worked.
6 Use Purchase Order Receipts (5.13.1) to receive a quantity of 20 of the items on the purchase order you entered. (Again, make sure Receive All is set to No.)
7 Use PO Receipt Cost Browse (5.13.3) to review the receivers that were created against the purchase order. You should have three receivers, one negative and two positive, each with its own receiver number.
8 Use Purchase Order Returns (5.13.7) to return defective items. A quantity of 5 of item 60002 received were found to be defective. These were returned to the supplier. They will not be replaced.
You can enter comments to describe the reason for the return. These can be printed on the return document.
9 Use Purchase Return Document Print (5.13.8) to print the return document.
10 Returns to supplier have the same effect as corrections (negative receipts) have on inventory and receivers. However, the return will be treated differently on the Supplier Performance Report.
Use Supplier Performance Report (5.9.18) to print the report for supplier 10S1005.
11 Use Transactions Detail Inquiry (3.21.1) to review the transaction. Select the latest transaction.
Write down the Reference ID under ISS-PRV.
12 Use Unposted Transaction Inquiry (25.13.13) to review the GL transactions created by your receiving activity.
a Enter the Reference ID you noted in the Reference ID field
b What amount was posted to account 2520?