Example Item Receipt 100 Qty. with total amount of 100 but Vendor Bill 100 Qty. with total amount of 150, in this case Item Cost will not equal to Account Payable. As I test the Item Receipt will Debit Inventory Account Credit Accrued AP then the Vendor Bill will Debit Accrued AP and Credit Account Payable. In my example what will happen is Item Receipt Dr. Inventory 100 Cr. Accrued AP 100 Vendor Bill Dr. Accrued AP 150 Cr. AP Account 150 that the diff of GL and inventory cost. How can I adjust to add the cost without edit the item receipt, that should make the GL Balance and the cost should be add to item (Using Group Average Costing Method)?

AI generated answer (using internal Slack threads):

Based on the conversations, it seems that the issue is about reconciling the difference between the Item Receipt (IR) and Vendor Bill (VB) when there is a price variance. The discrepancy between the General Ledger (GL) and Inventory valuation report balances is due to the adjustment made to align accounts 2600 (Accrued AP) and 1200 (Inventory). In NetSuite, the standard procedure to handle this situation is to use the setting "match bill to receipt" on all items. This links the item receipt lines to the vendor bill lines. There is an action called "Post vendor bill variances" which lets NetSuite do the booking for you, based on the variance accounts set on your item. If you don't go with that, you can book it as a cost/negative cost to a COGS account with 2600 as counter-account together with a stock revaluation (if you haven't sold them yet). In case of a price variance on the vendor bill, you can adjust the SKU average cost using an inventory adjustment. If the variance is positive, it will Debit-1200 (Inventory) and Credit-2600 (Accrued AP), if negative, it's the other way around. If there is no stock on-hand because the invoice arrives very late and the stock is sold out, it goes to COGS using a journal. If stock is lesser than the inbound, you can do a partial adjustment and the difference goes to COGS. If the IR period is open, you can date the inventory adjustment to the item receipt date, otherwise, it should be the first day of the current period. If the period is closed, and you sold it during that period, you will have incorrect COGS. In this case, you can post to COGS on the current period, the COGS will remain incorrect for the closed period. ****** Disclaimer: This response was generated by an artificial intelligence assistant based on previous conversations from multiple Slack channels, and may contain inaccuracies or mistakes. ******