Purpose

The Aspire End of Month (EOM) report recognizes costs associated with purchase receipts in the month that a purchase is received, and other costs in the month on which the associated invoice is received from the vendor.

Most of the time, these two dates occur in the same month, so all cost is recognized in that month. However, there are exceptions. This article clarifies how costs on a purchase receipt are recognized.

The following definitions provide the necessary background.

The Created Date is the date the Purchase Receipt was created and saved in Aspire. The Created Date is recorded when you select a line item from the Purchasing Assistant and under Bulk Actions, choose Create Purchase.

📌Note: Do not enter a Received Date or Invoice Date until you actually receive the goods or services or have received the invoice.

The Received Date is the actual date entered on the Purchase Receipt screen as Received

Date. When the items on a purchase receipt are received, enter this date in the Received field on the Purchase Receipt screen.

Then, you can click the 3 dots at the top right and choose the Receive option.

The Purchase Receipt will show the Expense by Division under Material, Equipment, Sub or Other. It shows on the End of Month Expense tab by the received date. You can select the Date Range on the top right of the screen.

After your purchase receipt is received, you can then enter the appropriate invoice date and enter an invoice number. This will be the date for your invoice in your accounting system.

Then, you can click the 3 dot menu and choose Approve.

📌Note: Any changes to the received dollar amount will show on EOM by the invoice date.

A good example of this is if freight or sales tax is added or the unit price changes for this invoice, those dollar amounts will show by the Invoice Date.

This is the date stamped by Aspire on the approved purchase receipt and is sent to your accounting system.

📌Note: Your accounting system shows the invoice date and not the approved date.

Aspire automatically sets the Approved Date based on the time at which the purchase receipt is approved.

A good example of this is if a purchase receipt is received for a dollar amount like $1,000. That amount will show on the End of Month (EOM) report based on the Purchase Receipt Received Date.

Later, when the invoice for the purchase is received, you will enter the invoice date and invoice number into Aspire.

When you approve the Purchase Receipt, Aspire will initiate the transfer to your accounting system. If the dollar amount changes between the time that the purchase is received and the associated invoice is approved, like if your $1000 purchase receipt changes to $1,100, the difference (in our example this would be $100) will show on the EOM report based on the Invoice Date.

It is important to be aware that if the received date is in one month and the invoice date is in a different month, then on the EOM report, the original amount will show in the received month and the difference will show in the month that the invoice was received.