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process from PO to Asset creation, with accounting entries.?
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Answer / pops
When Received :
--------------------
Receiving inventory A/c Dr
AP Accrual A/c CR
Inventory to Staging:
-------------------------
Asset Clearing A/c DR
Receiving Inventory A/c CR
When Invoice Raise:
------------------------
AP Accrual A/c Dr
Liability A/c Cr
Using Cash Clearing:
------------------------
Liability A/c Dr
Cash Clearing A/c Cr
Reconciliation:
----------------
Cash Clearing A/c Dr
Cash A/c Cr
In Assets:
=======
Asset A/c Dr
Asset Clearing A/c Cr
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Answer / vijay
At the time of enter the Invoice (Asset item)
Asset Clearing A/c DR
TO Liability A/c CR
Add The Asset in FA
Asset Cost A/c DR
TO Asset Clearing A/c CR
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