If we were to receive a monthly bill for a 12 month contract, which would(should) be a fixed price, is there a process that would allow us to receipt the PO but future dated so that it couldn’t b paid any earlier and the purchaser wouldn’t have to receipt each month?
Would this cause an issue to any other financial reporting?
You should be able to create preliminary supplier invoice and attach it to PO, you can then pay the preliminary supplier invoice. You can receive the PO each month and match it against the supplier invoice.
Hi,
It is not allowed to use a future date for the receipts.
However, you have the option to create recurring invoices for this.
Invoices will be created automatically for the same amount given in the 1st invoice, however, for future days. (New number series will be assigned)
Receipts can be matched accordingly.
Having the accounting periods closed for the given periods will assure that they will not get posted until the right time.
Hope this helps.
Shehan Almeida.
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