Hi

I was wondering if anyone had any tips or work-around to show goods in transit as a liability?

We raise a PO with our supplier in China and when the goods are shipped and are invoiced, hence they are a liability of the business.

However I can't convert the PO to bill at this point as the goods will show in stock as received in inventory - they won't be with me for another 6 weeks!

Is it a case of making an "in-transit" account and journaling in and out the invoice value?   Or is there a more simple way that I am missing?

Thanks in advance

Richard