Minimum Version Required: 25.04
Pre-Conditions
You have identified a Purchase in the system where the Purchase Accounts reflect incorrect inventory-related accounts for an inventoried product.
You have access to the system's Inventory Account Maps table.
You have the necessary permissions to view and potentially edit this table.
You know the specific inventoried product that is using the incorrect accounts on the Purchase.
Steps
Navigate to the Inventory Account Maps Table:
Use the universal search functionality within the system.
Search for "Inventory Account Maps" and select the corresponding table.
Locate the Relevant Inventory Account Map Record(s):
Review the entries in the Inventory Account Maps table.
Filter or search based on the following fields to find the map record(s) related to the affected product:
Company
Location
Product
Product Type (if applicable as a filter)
You may need to examine records with combinations of these filters to find the specific mapping being used.
Verify the Inventory Accounts:
Once the relevant Inventory Account Map record(s) are located, examine the following fields:
Inventory Asset Account
Freight Accrual
Tax Accrual
Other Cost
Deposit Asset Account
Ensure that the GL accounts listed in these fields are the correct accounts that should be associated with the inventoried product for the selected Company, Location, and Product/Product Type combination.
If any of these accounts are incorrect, note the incorrect account(s) and the correct account(s).
Correct the Inventory Account Map (If Necessary and if you have permissions):
If any of the GL accounts in the Inventory Account Map are incorrect, update them to the correct GL accounts.
Address Verified Purchases:
If the Purchase is in Verified Status:
Option 1 (Recommended if within the allowed rollback period): Roll back the AP Close Date (if applicable and permitted), un-verify the Purchase, make the changes to the Inventory Account Map, edit and save the Purchase (this should recalculate the Purchase Accounts), and then Verify the Purchase again.
Option 2 (If rollback is not feasible):
Reverse the incorrect Purchase and verify the reversal.
Make the necessary corrections to the Inventory Account Maps.
Recreate the Purchase with the correct Inventory Account mapping.
Verify the new Purchase.
Option 3 (For historical balance correction):
Make the necessary corrections to the Inventory Account Maps.
Create simple journal entries to transfer the balances from the incorrect accounts to the correct accounts to adjust historical financials. This will not
change the original Purchase Account details.
Review Purchase Accounts After Changes:
After making changes to the Inventory Account Map and re-saving the Purchase (if unverified), review the Purchase Accounts on the Purchase to confirm that the correct inventory-related accounts are now reflected.
Best Practices
Establish clear rules and processes for creating and maintaining Inventory Account Maps, especially when new inventoried products are added.
Regularly review Inventory Account Maps to ensure accuracy for different products, locations, and companies.
Consider the impact of changes to Inventory Account Maps on historical purchases and determine the appropriate corrective action (rollback, reversal, or journal entry).