Now Reading: Receipt of a Non-stocked item versus a Stocked item
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Receipt of a Non-stocked item versus a Stocked item
Receipt postings for the ‘STOCKED’ type of a project:
DEBIT Cost of purchased materials received 1000
CREDIT Purchase expenditure, un-invoiced 1000
DEBIT Purchase expenditure, un-invoiced 1000
CREDIT Purchase, accrual 1000
So effectively it is:
DEBIT Cost of…
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Receipt of a Non-stocked item versus a Stocked item
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