Day End Processing of Returns

Note: If you cost inventory during posting instead of during Day End Processing, almost all Day End processing tasks will take place when you post transactions.

• If you are concerned with transaction processing speed, you should cost inventory transactions during Day End Processing�not during posting. (You change this setting on the Processing tab of the I/C Options form if you are using the Inventory Control module.)

Day End processing (or posting, if you cost inventory during posting):

• Updates costs in Inventory Control for non-job-related invoices, if you use Inventory Control.

• Updates quantities and costs in Project and Job Costing for job-related returns

• Creates general ledger transactions for the processed returns, and creates the Return Posting Journal.

The general ledger accounts affected by return transactions are described in Journal entries generated from posted Purchase Orders transactions.

• Adjusts and reprorates or expenses any additional costs posted with a receipt to remaining items on the receipt using the methods you specified.

If you choose to expense or prorate additional costs that were originally prorated to the items being returned, Day End Processing expenses the costs or prorates them to the remaining items on the original receipt. You can check the prorated amounts on the Return Posting Journal.

• Also deletes completed returns if you do not keep history and, if you keep history and statistics, updates Purchase Orders and Inventory Control history and statistics with return data.