Despite Jonpril's comment im not convinced its all right yet, but maybe the problem is with me.
Your use of the terms PO and Item Receipt worries me.
When you create a "PO" in QB nothing happens in any account - its just a memo that you asked a vendor for something. In advanced inventory it also causes items to show as 'on order'.
If you use "item receipt without vendor bill" the item is added as a purchase and a vendor AP is created (even though there was no vendor bill)- if you enter zero price then the items will go into stock with no value