QAD 2017 Enterprise Edition
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Global Tax Management
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Processing GTM
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Memo Items
Memo Items
Memo items are non-inventory items such as office supplies. By definition, such items have no standard cost.
Entries for memo items update Expensed Item Receipts instead of Purchase Order Receipts, and Expensed Purchases instead of Inventory. In addition, for memo items, an option in Supplier Invoice Control (28.24) allows variances to update Expensed Item Receipts instead of the variance accounts.
In the GL entry examples, the tax point determines whether accounts are updated at goods receipt or invoice date. See the examples.