Current Scheduled General Availability: March 2025

Feature Description:  This feature is for accounts payable clerks who need to correct an incorrectly posted purchase order invoice. Previously, fixing this was a lengthy process, but now it automatically reverses the incorrect invoice and resets the purchase order status. This saves time and effort, streamlining the correction process and allowing you to post the correct invoice more efficiently.

Feature Details: Currently, when a purchase order is posted incorrectly, accounts payable clerks must follow several time-consuming steps to rectify the issue. These include adding a negative quantity line, posting a product receipt, creating and posting a credit note, adding a third line to the purchase order, posting the receipt again, and finally posting the correct invoice.

To streamline this process, the new feature automatically reverses a posted purchase order invoice and resets the purchase order status. Depending on the product receipt status, the purchase status will revert to either Ordered or Received. However, if the subsequent process after purchase order invoice posting occurs, such as settlement, financial period-end activities, or cost revaluation, the reversal will be blocked.

Why I'm Excited:  Mistakes happen and the process to fix posted invoices is lengthy and increases the chances for more mistakes to be made, leading to more corrections. Being able to reverse and reinvoice posted purchase order invoices will being a streamlined correction process to so many! 

Current Scheduled General Availability: March 2025

Feature Description: Gain greater control over the recalculation process by choosing whether to exclude or include specific types of transactions as needed. This can help ensure report accuracy and regulation compliance for some regions. Additionally, this feature can help save time and increase efficiency by streamlining the recalculation process and reducing the need for manual intervention.

Feature Details: When recalculating for weighted average, you can now choose whether to include transactions that haven't yet been financially updated. This feature:

• Adds an option for item model groups.

• Includes transactions without financial closing.

• Only applies during recalculations and doesn't affect inventory closing.

Why I'm Excited:  Inventory costing is a passion of mine (if you haven't noticed!). Being able to include physical transactions in recalculations when you know they will all be financially posted by the end of the period will greatly increase accuracy of inventory value throughout the month, especially when products are fluctuating greatly in price over the month, as we have seen over the past few years. I am excited to re-run some scenarios I have in the past to see how inventory value will trend when all transactions are considered to see the true impact throughout the month. Stay tuned once I can get some quality time in with this new feature!