how do i capture our loss on a purchase order that was paid but never received? there is a bill and bill payment but its still pending receipt

If you aren't ever going to receive it - I'd receive it - and then do an inventory adjustment to zero out the inventory impact. Then your Accrued Purchases and Inventory and expense are all correct. Even if the transaction never really happened.

thanks i have another suggestion, let me know if this makes sense what if i just close the PO and then i credit 2400 inventory received not billed and debit another account that we can use to capture this loss. cause thats what an item receipt would do, it would credit 2400 inventory received not billed

I'm not a huge fan on JE's to inventory received not billed.

me neither, but as far as accounting goes and balancing accounts, is that correct?

It's the same net effect as my suggestion.

ok thank you