What is the Accrued Purchase Receipts Account?

The Accrued Purchase Receipts account is created by Acctivate as a purchase suspense account. This is so that Acctivate and receive and invoice purchase orders separately.

Warehouse Inventory Systems manage warehouse & inventory transactions accurately and accommodate specific situations, including that of receipts for accrued purchases.

The Accrued Purchase Receipts account is created by Acctivate as a purchase suspense account. When you post an inventory receipt, Acctivate will utilize the Inventory and Purchases GL account specified on the Warehouse. Creating the Vendor Bill reconciles the balance in the Purchases account into Accounts Payable.

Example: To record the receipt of inventory, followed by Purchase Invoice being entered.

Account	DR	CR
Inventory Asset	$750
Accrued Purchase Receipts		$750
Inventory Receipt of goods, with or without a Purchase Order

Accrued Purchase Receipts	$750
Accounts Payable		$750
Vendor Purchase Invoice* (Vendor Bill) for Inventory and Other Amounts*