Topic: Goods Received Notice Provision
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
Re: Goods Received Notice Provision
Could you be fore specific. I don't understand this. We have no fields for Provision here.
/Joe
Re: Goods Received Notice Provision
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
When you enter the GRN you could add the provision to the purchase price for the items.
Joe
Re: Goods Received Notice Provision
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
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
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
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
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