She is wrong here. Item receipt is a GL impacting transaction when the procured items are of inventory type. The goods are physically received in your warehouse meaning there is an impact on your inventory. GL impact will show an increase in the asset account and an increase in the accounts payable account. In NetSuite, upon recording a GRN you will find the GL impact tab if your procured items are of Inventory type. There won't be a GL impact for non- inventory items when users receive them.
@@Advocate_307 Thanks for the reply, Nisha! You are absolutely correct. We have edited out that part of the video to remove any confusion. Thanks again!
@@Advocate_307 The GL impact for non inventory item can be achieved if the item is selected to Generate Accruals. In this video they are referring to purchase order have no GL impact. The item receipt will have GL impact but they never mentioned that in this video that there is no GL impact.
Sorry to see you go! We do upload subtitles for all of our videos to provide an alternate way to process the information, if that helps. Best of luck on all your NetSuite endeavors! 💪
item receipt has no GL impact? is that correct?
She is wrong here. Item receipt is a GL impacting transaction when the procured items are of inventory type. The goods are physically received in your warehouse meaning there is an impact on your inventory. GL impact will show an increase in the asset account and an increase in the accounts payable account. In NetSuite, upon recording a GRN you will find the GL impact tab if your procured items are of Inventory type. There won't be a GL impact for non- inventory items when users receive them.
@@Advocate_307 Thanks for the reply, Nisha! You are absolutely correct. We have edited out that part of the video to remove any confusion. Thanks again!
@@Advocate_307 The GL impact for non inventory item can be achieved if the item is selected to Generate Accruals. In this video they are referring to purchase order have no GL impact. The item receipt will have GL impact but they never mentioned that in this video that there is no GL impact.
Audio is too fast🤮. Unsubscribed the channel
Sorry to see you go! We do upload subtitles for all of our videos to provide an alternate way to process the information, if that helps. Best of luck on all your NetSuite endeavors! 💪
Yes a step is missing