Inventory Accounts
Inventory Accounts
1) Inventory Accounts – Receiving Type "Document"
If costing will be performed at purchase (i.e. supplier's value and dependent
costs will be entered), you must specify to which accounts each element of
costing will be recorded.
|
Item Type | The item type for which the
account settings should apply. The item type is set in the
Items register | General | Accounts.
|
| DR/CR | The posting side. Blank by
default, which means debit.
If Credit is selected, automatic posting will post to the same
account to the same side, but with a negative amount. See
Inventory excess for an example. |
|
Supplier's Invoice DR
| The account for recording the value according to
the supplier's invoice (from receiving – at the supplier's
price). |
| Transport
DR | The account for recording transportation costs
(from
costing).
|
| Dependent Cost DR |
The account for recording dependent/direct costs from purchases (from
costing). |
| Customs DR |
The account for recording customs duty (from costing). |
| Fixed Price Offsets DR | (used
for fixed prices)
The account for recording deviations from fixed prices for
purchases. |
| Inventory Account DR |
The account for recording the cost (purchase value) of goods
(supplier's invoice, transport, dependent costs, customs). |
| Transfer to Inv. CR |
The balance of all costing elements (supplier's invoice,
transport, dependent costs, customs) for transfer to the
inventory account - in other words, the cost (purchase value) of
goods after costing. |
| Included Customs Duty CR |
The account for recording included customs duty (from costing). |
| Included VAT CR |
The account for recording included VAT (from costing). |
| Included Dependent Costs CR |
The account for recording included dependent costs (transport
and dependent costs) from costing. |
| Included Retail Gr. Margin CR |
The account for recording gross margin (difference between cost
and sales price excl. VAT) when
posting inventory at retail price. See also
Automatic posting of material consumption.
|
| Included VAT - Retail CR |
The account for recording included VAT in the retail value of goods when
posting inventory at retail price (see Posting
inventory at retail price).
|
| Contra Acct. Mat Cons. DR | (not
used here)
|
If you will be entering only the supplier's value when purchasing, without
any costing elements (this means that the supplier's price is the same as the
cost of goods), you do not need to specify a Transfer to Invetory account.
2) Inventory Accounts – Receiving Type "Internal"
Only material consumption is recorded when automatically posting
internal receipts, therefore less accounts need to be set up.
| Item Type | The item type for which the
account settings should apply. The item type is set in the
Items register | General | Accounts.
|
| CR/DR | (not required) |
| Supplier's Invoice | (not
required)
|
| Transport | (not required)
|
| Dependent Costs | (not
required)
|
| Customs | (not required)
|
| Fixed Price Offsets DR | (used
for fixed prices)
The account for recording deviations from fixed prices for
purchases. |
| Inventory Account CR |
The account for credit-side posting of consumption. |
| Transfer to Inv. CR | (not
required)
|
| Included Customs Duty CR | (not
required)
|
| Included VAT CR | (not
required)
|
| Included Dependent Costs CR | (not
required)
|
| Included Retail Gr. Margin CR | The account for recording
included gross margin when
posting inventory at retail price.
|
| Included VAT - Retail CR |
The account for recording included VAT when
posting inventory at retail price. |
| Contra Acct. Mat. Cons. DR | The account for
debit-side posting of consumption. |