Reconcile a goods receipt in Financial

You reconcile the goods receipts immediately during the entry of a purchase invoice in the purchase journal in Profit Financial. You reconcile in full or in part. You do this after the goods receipt is entered.

Enter a purchase invoice and reconcile it in full in Financial

You enter the purchase invoice and reconcile the entire goods receipt.

To enter a purchase invoice and immediately reconcile it with the goods receipt in Financial:

1. Go to: Financial / Enter / Journal.
2. Check Financial year and Period. These are the financial year and the period in which you post the entry.
3. Select the correct purchase journal.
4. Click on: Finish.
5. Select the creditor in Account.
6. Enter the original invoice number of the purchase invoice in Creditor invoice number.

   Profit automatically suggests your internal invoice number in Invoice number.

7. Enter the total invoice amount in Amount credit.
8. Press: Enter or Tab.

   Profit asks if you want to reconcile the goods receipt if:

   • The creditor has a goods receipt.
   • The status of the creditor's goods receipt is not Fully confronted or Do not reconcile.
   • This goods receipt is not blocked.
9. Click on: Yes.

   Open the reconciliation entry window. The window automatically displays the goods receipts from the creditor.

   1. Select the Select check box for the goods receipts that you want to reconcile with the purchase invoice.

      If you receive one invoice from this creditor for multiple goods receipts, select the Select check box for the lines of the goods receipts in question.

   2. Click on the action: Receipt, if you want to check the underlying (cost) lines in the goods receipt.

      The lines to be reconciled are only for articles for which you track the stock. You use this action to check any costs that have been processed in the invoice total. You can only view the goods receipt here, you cannot change it.

   3. Click on: Finish.
10. Press: Enter or Tab.
11. Profit adds an entry line on the contra account.

    Profit generates this line based on the article group(s). The article group contains the ledger account for the purchase account journalising; please see integration of the purchase account with the article group.

    Profit can generate multiple lines if there are multiple articles with different article groups.

12. Press: Enter or Tab.
13. Complete the entry.

    If the total amount from the purchase lines and the reconciliation lines is not the same as the invoice amount, then the difference (for example, costs) appears on the following entry line. For this line, you enter the ledger account manually.

    For more information, please see the description in Enter a purchase invoice with multiple cost types and VAT rates.

14. Profit adds an extra entry line for the VAT amount.

    

15. Check the data.

    Note: 

    You cannot change the amount, ledger account and creditor number in the creditor line because, when journalising, a journal entry is created using the amounts from the reconciliation. If one of these data items is changed then the reconciliation will no longer match the journal entry. You can however terminate this entry using Cancel which removes the entries. The associated reconciliations will then be undone.

16. Click on: Finish.

Purchase invoice with multiple purchase lines

Profit generates multiple entry lines during the entry of the purchase invoice if there are multiple articles belonging to different article groups. The article group contains the ledger account for the purchase account journalising; please see integration of the purchase account with the article group.

If there are multiple article groups that have different integration purchase accounts, the journal entry for the purchase invoice is split across multiple purchase accounts.

Example:

If the Tea article group has a different integration purchase account than the Coffee article group then two journal entry lines are created when the invoice is added:

Profit generates the two purchase lines and the VAT line. Profit calculates the VAT line by settling the purchase prices with the VAT percentages from the goods receipt. This results in a VAT line for each VAT type (high, low).

To enter a purchase order and distribute it over multiple purchase accounts:

1. Go to: Financial / Enter / Journal.
2. Check Financial year and Period. These are the financial year and the period in which you post the entry.
3. Select the correct purchase journal.
4. Click on: Finish.
5. Select the creditor in Account.
6. Enter the original invoice number of the purchase invoice in Creditor invoice number.

   Profit automatically suggests your internal invoice number in Invoice number.

7. Enter the total invoice amount in Amount credit.
8. Press: Enter or Tab.

   Profit asks if you want to reconcile the goods receipt if:

   • The creditor has a goods receipt.
   • The status of the creditor's goods receipt is not Fully confronted or Do not reconcile.
   • This goods receipt is not blocked.
9. Click on: Yes.

   Open the reconciliation entry window. The window automatically displays the goods receipts from the creditor.

   1. Select the Select check box for the goods receipts that you want to reconcile with the purchase invoice.
   2. Click on: Finish.
10. Press: Enter or Tab.

    Profit generates the first entry line on the purchase account that is recorded in the article group, for example, Purchase (Tea).

11. Press: Enter or Tab.

    Profit generates the second entry line on the purchase account recorded in another article group, for example, Purchase (Coffee).

12. Press: Enter or Tab.

    Profit generates the entry line for the VAT amount.

13. Click on: Finish.

Enter a purchase invoice and partially reconcile it in Financial

When you post the entry, you can also partially reconcile the goods receipt.

To enter a purchase invoice and partially reconcile it in Financial:

1. Go to: Financial / Enter / Journal.
2. Check Financial year and Period. These are the financial year and the period in which you post the entry.
3. Select the correct purchase journal.
4. Click on: Finish.
5.  Select the creditor in Account.
6. Enter the original invoice number of the purchase invoice in Creditor invoice number.

   Profit automatically suggests your internal invoice number in Invoice number.

7. Enter the total invoice amount in Amount credit.
8. Press: Enter or Tab.

   Profit asks if you want to reconcile the goods receipt if:

   • The creditor has a goods receipt.
   • The status of the creditor's goods receipt is not Fully confronted or Do not reconcile.
   • This goods receipt is not blocked.
9. Click on: Yes.
10. Open the reconciliation entry window. The window automatically displays the goods receipts from the creditor.
11. Select the corresponding reconciliation line.
12. Click on the action: Lines.

    Open the window with the underlying (cost) detail lines that are in the goods receipt.

    1. Select the detail line(s) that you want to reconcile. The Confronted (Total) field in the window header displays the total for the selected detail lines. When you have reached the total goods amount, complete the data entry.
    2. Change the number of articles in the Quantity reconciled column if the quantity differs.
    3. Click on: Finish.
13. Now complete the entry.
14. Check the data.
15. Click on: Finish.