When is a doc ‘Posted’
Tran Type | When | Reason |
Adjustment | Doc Date | Adjustment signifies a change in the item quantity that is immediately reflected regardless of status |
Receiver | Doc Date | Receiver signifies that ownership has passed from the Vendor to Company even if it’s Processing/ In Transit |
Work Order | Finished Date | The Finished Date signifies the end of the transformation from Components to Finished Goods |
Ship Doc | Status Changed to Shipped | Revenue recognition happens when the goods leave the Company’s possession. Ownership passes from the Company to the Customer |
Transfer | Doc Date | Transfer is a change of location of company owned inventory so it is immediately Posted |
Vendor Return | Status Changed to Returned | In most cases, the Company must wait for Vendor approval to return goods. Ownership passes from the Company to the Vendor when the goods are actually returned. |
Customer Return | Status Changed to Returned | In most cases, the Company must approve the Customer to return goods. Ownership passes from the Company from the Customer when the goods are actually returned. |
Disassembly | Finished Date | The Finished Date signifies the end of the transformation from Finished Goods to Components |
Value Adjustment | Doc Date | Value Adjustment signifies a change in the Value Amount of item an that is Owned and therefore is Posted immediately. |
