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Nov 23, 2012 at 05:52 AM

Data entry mistake

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Hello Experts,

following documents are punched in the system.

Purchase Order

Goods Receipt Po

Landed Cost

A/P Invoice

Outgoing Payment

Plus, we have sold some of the above products.

After all this we noticed a data entry mistake in purchase side.

There are two items with following details.

A0001 XYZ

B0001 ABC

in purchase order they are entered in the following way

ItmCode ItmName Qty

A0001 XYZ 40

A0001 ABC 40

Actually they should have been like this

ItmCode ItmName Qty

A0001 XYZ 40

B0001 ABC 40

In order to rectify this two things striked me

1. Reverse all the documents

2. use inventory tracking and posting to adjust the stock quantities and then revalue the same.

Which is the recommended way ?

Or is there any other way to correct this ?

Please guide me. I'm stuck.

Thanking you

Malhaar