We want to confirm that no matter what kind of a PO it is (Capital, Bill Only, Svc) that the GL is expensed at the receipt date/time. Is that accurate? Is there a way to expense any differently than when the item is received?
It depends on the type of the item. If the item is an inventory type, the GL entries are made at the time of receipt as the item is now an asset in your inventory. If it is a non-stock or special item, it is expensed when it is invoiced/matched. If you're using the Received not Inventoried process, then it does an auto-reversing expense for these items at month end, and then expenses at invoice. Services expense at invoice/match only.
So non-stock/special items are not expensed at time of receipt? Only at time of invoice being matched?
Correct
