FrontAccounting forum — Goods Received Notice Provision

Re: Goods Received Notice Provision

2012-10-15T13:37:53Z

My town accountant does not properly grasp "GRN Provision", Every single amount mainly because entire web are not able to assist.
It appears anything distinctive to Front accounting so as that I hoped you will assist, or perhaps practically no less than assist you to prevent "GRN provisions" being used.
Jonathan

Re: Goods Received Notice Provision

2012-10-03T20:30:30Z

I think I have worked it out.

The order FA leads me to make entries:-
1 Order
2 Receive Goods
3 Invoice this delivery
leads to the increase of stock being calculated at the price of the pre-existing stock, when 'receive goods' is performed.

The subsequent 'Invoice' provides the new costs and the difference from the old costs is the GRN provision. These go into the Stock account so it is the same in the end.

If you can confirm that this is what is happening I can work with it.

However it would be tidier to be able to go from Viewing the order to Invoicing before Receiving goods. This appears not to be an option.
Alternatively the ability to convert an order to a direct Invoice, would also avoid the need for GRN provisions.

Hoping I have it now

Thanks for your patience,

Jonathan

Re: Goods Received Notice Provision

2012-10-03T19:10:08Z

My local accountant does not understand "GRN Provision", Just as the whole internet cannot help.
It seems something unique to Front accounting so I hoped you could help, or at least help me to stop "GRN provisions" being applied.

Jonathan

Re: Goods Received Notice Provision

2012-10-03T16:50:10Z

Please talk to a local accountant about how to handle this in your area. We do not give support about accountancy.

Joe

Re: Goods Received Notice Provision

2012-10-03T16:37:36Z

Yes but provision for what. Isn't the purchase price what it says?
I don't want to add anything unless I know how it is calculated.

Front accounting just puts them in - I can't stop it -, and it is not a fixed proportion of the cost.
Is it to do with currency movements perhaps?

Jonathan

Re: Goods Received Notice Provision

2012-10-03T13:08:42Z

When you enter the GRN you could add the provision to the purchase price for the items.

Joe

Re: Goods Received Notice Provision

2012-10-03T13:03:52Z

In set up you have "GRN Clearing account".
My foreign purchases generate "GRN provisions" in the General Ledger.

Creditors Control Account       12,171.97
1001 Stock       179.50
1001 Stock       2.80 GRN Provision
1001 Stock       574.41
1001 Stock       8.95 GRN Provision
1001 Stock       287.21
1001 Stock       4.47 GRN Provision

I Don't know what they represent, and even Google can't enlighten me.

Jonathan

Re: Goods Received Notice Provision

2012-10-01T21:47:20Z

Could you be fore specific. I don't understand this. We have no fields for Provision here.

/Joe

Goods Received Notice Provision

2012-09-28T19:37:29Z

I can find no explanation of these any where, inside Front Accounting or outside.
What do they represent, and what should I do with them?

Jonathan