With Finale Inventory, managing purchase orders is simple and transparent. Each step—from receiving shipments to posting bills and payments—automatically updates your ledgers, so your inventory values and payables are always in sync.
1 & 2. Purchase Order Created – Editable or Committed Status
When a PO is first created or committed, no ledger entries are made. These early stages are for order planning and confirmation only.
3. Shipment Added – Editable Status
Adding a shipment record does not affect your ledger. Ledger activity begins once the shipment is marked as received.
4. Shipment Marked as Received
When you mark a shipment as Received, Finale records the movement of inventory into your asset account.
This step recognizes the inventory value received into your system before the corresponding vendor bill is posted.
6. Bill Marked as Posted
When you post the bill, Finale moves the liability from the Purchase Clearing Account to Accounts Payable, reflecting the obligation to pay the supplier.
8. Payment Marked as Posted
When a payment is posted, Finale records the settlement of the payable using your Cash on Hand account.
If Finale Inventory is connected to QuickBooks® Online (QBO), do not post payments in Finale. Payments should only be recorded in QuickBooks, as payment posting in Finale is not currently synced.
9. Purchase Order Marked as Completed
Once all shipments, bills, and payments are processed, marking the PO as Completed finalizes the transaction record without additional ledger entries.
Summary of Ledger Flow
*Payments should only be posted in Finale for accounts not connected to QuickBooks.
Key Takeaways
Inventory valuation begins when goods are received.
Bill posting moves costs from clearing to payables.
Payment posting (if applicable) clears liabilities.
When using QuickBooks, post payments only in QuickBooks.