How to reverse landed cost on open A/P Invoice

[Former Member]

Dear Support

Please be so kind to assist wiht the following issue: I need to reverse landed cost from a open A/R Invoice #  72223

Purchase Order #  125025

Goods Receipt # 16426

Landed Cost 15332

A/P 72223

If i select the A/P invoice and copy to A/P Credit memo and preview the journal remarks first, the following error occurs

"Quantiy falls into a negative inventory"

My Question however are if I do proceed with this function, will this rectify the landed cost?

Please view the screen shots attached for investigation as well as the journal remarks on each document

Inventory Posting List:

The reason for not posting to the stock account is because the AR Invoice was been done before the landed cost has been processed:

At the time of landed cost there were no stock on hand, this has been the reason why the amount has been posted to the Price difference ledger account  and not the stock account.

Your response will be much appreciated

Kind regards,

Ilze Fourie

[kothandaraman_nagarajan]

Hi,

Can you attach screen shot?

Thanks & Regards,

Nagarajan

[Former Member]

Dear Nagarajan

Thank you for your response, much appreciated!

Attached please find the screen shots

Kind regards,

Ilze Fourie

[kothandaraman_nagarajan]

Hi,

Thanks for posting for screen shot.  I will check it and update.

Thanks & Regards,

Nagarajan

[Former Member]

Hi

Thank you for the prompt response, much appreciated!

Will await your feedback.

Kind regards,

Ilze Fourie

[kothandaraman_nagarajan]

Hi,

Please check this thread and let me know your feedback.

How to Reverse Landed Cost | SCN

Thanks & Regards,

Nagarajan

[Former Member]

Hi Nagarajan

As per the Thread:

You can not cancelled or reversed JV created by landed cost.

But there is way to reverse the landed cost. you have to reverse the A/P invoice made from that landed cost. the difference of landed cost will automatically transfer to material cost account.

Would you propose that I copy to AP CREDIT MEMO? Would this automatically reverse the landed cost, or how to you propose I proceed?

Your response will be much appreciated!

Kind regards,

Ilze Fourie

[Former Member]

Hi Ilze,

Copy landed cost to landed cost and then remove the amount.

Try this in test db first.

Thanks,

Joseph