Advanced Receiving allows you to maintain purchase order receipts AFTER a purchase order has been finalized. Specifically, Advanced Receiving allows you to revise:
quantity received
cost
freight charge
other charges
invoice total
The primary benefits of Advanced Receiving are: improved updating of average cost, better tracking and reconciliation of A/P invoices to PO receipts, accurate cost of goods sold and inventory value, independent updating in the Receiving Report (RRP) is no longer needed (Updt Options G, H or I), and the G/L inventory account more closely reflects the Inventory Valuation Report (RIV) cost value.