Exact Globe+

Overview of purchase receipts, invoices, credit notes, and return receipts to be reconciled

Menu paths

Inventory à Warehouse management à Reconcile
Purchase à To be processed à Reconcile

Introduction

It is important to reconcile changes in inventory (due to receipts) with purchase transactions (registered in purchase invoices). This will enable you to consistently monitor the inventory transactions and the related value on the inventory account and the purchase invoices. Reconciling the purchase invoices with the receipts ensures that you register both the actual quantity received and the purchase price on the stock account.

In this screen, you can generate a summary of receipt, invoice, credit note/invoice, and return receipt transactions grouped by suppliers or items. You can then reconcile the selected invoices with the receipts of the transactions automatically.

What version are you using?

The information in this document is based on product update 405.

How do I generate a summary of invoice, receipt, credit note, and return receipt transactions?

In the Reconcile screen, define the criteria to display the invoice, receipt, credit note, and return receipt transactions that match the criteria.
Click Refresh.

How do I view the details of invoice, receipt, credit note, and return receipt transactions?

In the Reconcile screen, define the criteria to display the invoice, receipt, credit note, and return receipt transactions that match the criteria.
Click Refresh.
Click the required line, and then click Zoom.

How do I automatically reconcile invoices with receipt transactions?

In the Reconcile screen, define the criteria to display the receipt and invoice transactions that match the criteria.
Click Refresh.
Click Automatically. The reconciliation process will begin, whereby the system will reconcile the invoice lines with the correct receipt lines. Transactions that have been successfully reconciled will no longer be displayed in this screen.
Click Close.

Tips and tricks

Transactions that have been successfully reconciled will no longer be displayed in the Reconcile screen. However, you can still retrieve these transactions for viewing by clicking the Our ref. button at the item transaction cards. The item transaction cards can be accessed via:

Inventory à Items à Cards
Finance à General ledger à Cards
Finance à Accounts receivable à Cards
Finance à Accounts payable à Cards
Purchase à Items à Cards

For certain scenarios, automatic reconciliation cannot be done. However, they can be reconciled manually. These scenarios are:

Records without purchase order number
Invoice with credit note transactions
Receipt with return receipt transactions
Return receipt with credit note transactions

Reconciling invoice with receipt

The following scenarios are possible only if all the conditions listed in the table are met:

Scenario	Condition
Once invoice line can be reconciled with one receipt line	All selected lines selected have the same item code. All selected lines have the same purchase order number. All selected lines have the same creditor. Quantity in invoice line must be the same or lesser than the quantity in receipt line.
Once invoice line can be reconciled with multiple receipt lines
Multiple invoice lines can be reconciled with one receipt line
Multiple invoice lines can be reconciled with multiple receipt lines

Reconciling invoices with credit notes

This method of reconciliation is performed when invoices are issued before receipts are performed. When cancellations are made to the receipts, credits notes will be issued to reconcile with the invoices issued earlier. Reconciling invoices with credit notes can only be performed if the following conditions are met:

The invoice and credit note lines selected must have the same item code.
All selected transactions must have the same purchase order number.
All selected transactions must have the same creditor.
All selected transactions must have the same amount or value.
Quantity in the selected invoice line(s) must be the same as the quantity in the selected credit note line(s).
One invoice or more can be reconciled with one credit note or more as long as the quantities are the same.

Reconciling receipts with return receipts

This method of reconciliation is performed when goods received are returned before any credit note is created and before the supplier issues a purchase invoice. Reconciling receipts with return receipts can only be performed if the following conditions are met:

The receipt and return receipt lines selected must have the same item code.
All selected transactions must have the same purchase order number.
All selected transactions must have the same creditor.
All selected transactions must have the same amount or value.
Quantity in the selected receipt line(s) must be the same as the quantity in the selected return receipt line(s).
One receipt or more can be reconciled with one return receipt or more as long as the quantities are the same.

Reconciling invoices, credit notes, receipts, and return receipts

This method of reconciliation is performed when goods received with invoices, at the same time there are return receipts and credit notes issued. Reconciling these four types of transactions can only be performed if the following conditions are met:

The invoice, receipt, return receipt, and credit note lines selected must have the same item code.
All selected transactions must have the same purchase order number.
All selected transactions must have the same creditor.
The net quantity of the invoices selected minus the net quantity of the credit notes selected must be equal to or less than the net quantity of the receipts selected minus the net quantity of the return receipts selected.

Reconciling credit notes with return receipts

This method of reconciliation is performed when you have reconciled the receipts with invoices, but later goods are returned and credit notes are issued. Reconciling credit notes with return receipts can only be performed if the following conditions are met:

The credit note and return receipt lines selected must have the same item code.
All selected transactions must have the same purchase order number.
All selected transactions must have the same creditor.
Quantity in the selected credit note line(s) must be the same as the quantity in the selected return receipt line(s).

Fields

Group by

Select Supplier or Item to group the receipt and invoice transactions by suppliers or items respectively.

Note: If you have selected Item, the Supplier field will be displayed in the Advanced mode instead of the Item field, and vice versa.

Date from

Type or select the start date and end date to display the receipt and invoice transactions that are created within the defined date range. Alternatively, select the All check box to display the receipt and invoice transactions created on any date.

Precision

This displays the precision derived from individual currency setting for specific countries, defined at System à General à Countries à Currencies. This cannot be edited.

Warehouse

Select a warehouse to display the receipt and invoice transactions that are linked to the selected warehouse. Alternatively, select All to display the receipt and invoice transactions that are linked to any warehouse.

Location

Type or select a location or a range of locations of the selected warehouse to display the receipt and invoice transactions from the warehouse in the selected location(s). Alternatively, select the All check box to display the receipt and invoice transactions from all locations.

Note: This is enabled only if you have selected a warehouse at Warehouse.

Item group

Type or select an item group or a range of item groups to display the receipt and invoice transactions that are linked to the selected item group(s). Alternatively, select the All check box to display the receipt and invoice transactions that are linked to any item group.

Item

Type or select an item or a range of items to display the receipt and invoice transactions that are linked to the selected item(s). Alternatively, select the All check box to display the receipt and invoice transactions for all items.

Note: This is available only if you have selected Supplier at Group by.

Supplier

Type or select a creditor or a range of creditors to display the receipt and invoice transactions that are linked to the selected creditor(s). Alternatively, select the All check box to display the receipt and invoice transactions for all creditors.

Note: This is available only if you have selected Item at Group by.

Serial/batch

Type or select a serial or batch number or a range of serial or batch numbers to display the receipt and invoice transactions for items with the selected serial or batch number(s). Alternatively, select the All check box to display the receipt and invoice transactions for items with any serial or batch number.

Purchase order

Type or select a purchase order or a range of purchase orders to display the receipt and invoice transactions that are linked to the selected purchase order(s). Alternatively, select the All check box to display the receipt and invoice transactions linked to all purchase orders.

Your ref.

This refers to the reference number provided by the creditors. Type a Your ref. number or a range of Your ref. numbers to display the receipt and invoice transactions with the defined Your ref. number(s). Alternatively, select the All check box to display the receipt and invoice transactions with any Your ref. number.

Our ref.

This refers to the reference number provided to your creditors. Type a Our ref. number or a range of Our ref. numbers to display the receipt and invoice transactions with the defined Our ref. number(s). Alternatively, select the All check box to display the receipt and invoice transactions with any Our ref. number.

External number

Type an external number or a range of external numbers to display the receipt and invoice transactions that are linked to the selected external number(s). Alternatively, select the All check box to display the receipt and invoice transactions linked to any external number.

Note: This is available only if you have selected the Use external numbering check box under the General section in Numbers settings at System à General à Settings.