The following article describes how G/L accounts are used through several different functions within the Inventory module:
Direct Receipt
Inventory - Receipts - Direct Receipt
Action: Received 1,000 units @ $1.55/each = $1,550
| Account | Description | Credit $ | Debit $ | Unit $ | Credit Qty | Debit Qty | Comment | Source |
|---|---|---|---|---|---|---|---|---|
| 01-01-000-00-1423 | Inventory-Finished Product | 0 | 1550 | 1.55 | 0 | 1000 | *ICS 48 3 - Automatic Posting From ICS - Direct Receipt | Inventory Type - Inventory G/L Account |
| 01-01-000-00-5986 | Inventory Adjustments | 1550 | 0 | 1.55 | 1000 | 0 | *ICS 48 3 - Automatic Posting From ICS - Direct Receipt | Inventory Type - Adjustments G/L |
Purchase Order
Purchasing - Purchase Order
Action: Created a Purchase Order for 2,000 units @ $1.75/each = $3,500
| Account | Description | Credit $ | Debit $ | Unit $ | Credit Qty | Debit Qty | Comment | Source |
|---|---|---|---|---|---|---|---|---|
| 01-01-000-00-1423 | Inventory-Finished Product | 0 | 3500 | 1.75 | 0 | 2000 | Posting Not Actually Made in Inventory Distribution This is seen by accessing Activities - G/L Distribution on the PO. | Inventory Type - Inventory G/L Account |
Accrue Receivers
Inventory - Utilities - Accrue PO Receivers
Action: Accrued the Receiver Created Above
| Account | Description | Credit $ | Debit $ | Unit $ | Credit Qty | Debit Qty | Comment | Source |
|---|---|---|---|---|---|---|---|---|
| 01-01-000-00-2030 | Accounts Payable-Other | 3500 | 0 | 0 | 0 | 0 | *ICS 48 9 - Automatic Posting From ICS PO Receiver 10580 | G/L Control Accounts - Non-Vouchered Payables |
| 01-01-000-00-1423 | Inventory-Finished Product | 0 | 3500 | 0 | 0 | 0 | *ICS 48 9 - Automatic Posting From ICS PO Receiver 10580 | Inventory Type - Inventory G/L Account |
Voucher Entry - Accrued Receiver
Payables - Voucher Entry
Action: Vouchered the Above Receiver that has been Accrued
| Account | Description | Credit $ | Debit $ | Unit $ | Credit Qty | Debit Qty | Comment | Source |
|---|---|---|---|---|---|---|---|---|
| 01-01-000-00-2010 | Accounts Payable | 3599 | 0 | 0 | 0 | 0 | *APS 16 01 - Vendor Invoice Maintenance 111 Credit Accounts Payable | G/L Control Accounts - Accounts Payables |
| 01-01-000-00-1423 | Inventory-Finished Product | 0 | 3500 | 0 | 0 | 0 | *Merchandise G/L for inventory class: AA | Inventory Type - Inventory G/L Account |
| 01-01-000-00-9040 | Freight Expense | 0 | 99 | 0 | 0 | 0 | Manually Selected G/L Account |
Voucher Entry - Un-Accrued Receiver
Payables - Voucher Entry
Action: Vouchered a Receiver for $487.50 that has not been Accrued
| Account | Description | Credit $ | Debit $ | Unit $ | Credit Qty | Debit Qty | Comment | Source |
|---|---|---|---|---|---|---|---|---|
| 01-01-000-00-2010 | Accounts Payable | 487.50 | 0 | 0 | 0 | 0 | *APS 16 01 - Vendor Invoice Maintenance 112 Credit Accounts Payable | G/L Control Accounts - Accounts Payables |
| 01-01-000-00-1423 | Inventory-Finished Product | 0 | 487.50 | 0 | 0 | 0 | *Merchandise G/L for inventory class: AA | Inventory Type - Inventory G/L Account |