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When I leave the “Create Bill” checkbox unchecked on a purchase receipt, does the system simply receive the items into inventory without creating a related bill? For example, if I create a purchase order and plan to pay with a credit card (but don’t have credit card reconciliation set up), can I just leave “Create Bill” unchecked, receive the items, and handle the payment separately?
Right now, my workflow is to complete the purchase order without ever creating a purchase receipt, and then receive items through an inventory receipt. I’d like to confirm whether this approach is acceptable or if there is a more appropriate method. Any guidance on best practices for handling this scenario would be greatly appreciated!
If you leave it blank, when you receive the invoice from the vendor you can then create a Bill for the invoice and add the PO receipt to the Bill to match everything up. I cant recall when I last saw someone using this create bill option
@alconroy I tried to use that create bill option with my old company. The flow was the person doing the receipts (was a purchasing person doing it manually) she would leave the box checked and it would create the bill. The bill would be left on hold. Once the invoice came in, AP would match the invoice to a bill in the system. Then we did document recognition so it went away.
You can set up the credit card as a cash account since you don't have CC reconciliation.
This is the guide I use. If you don't have an Acumatica Community account I copy/pasted the instructions as well:
Pay Frequent Vendor with credit card | Community
- Set up a Payment Method to represent credit card payments in the system.
- Set up the credit card liability account as a Cash Account in Banking.
- Enter Payments made by Credit Card in AP like you entered your Payments by check or Cash Purchases before (shown below), except you pay the vendors using the new Payment Method and CC Bank Account. Vendor history remains intact.
- When you pay Amex, VISA etc. (the credit card vendor), Cash Account “Company Paid Visa Credit Card” is debited and AP is credited when the Bill to Amex is entered.
- Reconciliation Statements: Credit Card bank accounts are reconciled when the statement arrives, just like regular bank accounts.
Add a Payment Method, in Banking → Preferences → Payment Methods screen. 🙂
Think of the CC as basically an account that will always go negative when you buy something. When you pay the credit card it brings it back toward $0.