Inventory G/L Postings

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

Account	Description	Credit $	Debit $	Unit $	Credit Qty	Debit Qty	Comment
01-01-000-00-1403	Inventory-Ingredients	0	1550	1.55	0	1000	*ICS 48 3 - Automatic Posting From ICS - Direct Receipt	Inventory Type - Inventory G/L Account
01-01-000-00-9013	Inventory Ingredient Adjustments	1550	0	1.55	1000.00	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

Account	Description	Credit $	Debit $	Unit $	Credit Qty	Debit Qty	Comment	Source
01-01-000-00-1403	Inventory-Ingredients	0	3500	1.75	0	2000	*Merchandise G/L for inventory class: IN 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 in 2015-02

Account	Description	Credit $	Debit $	Unit $	Credit Qty	Debit Qty	Comment	Source

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 10583	G/L Control Accounts - Non-Vouchered Payables
01-01-000-00-1403	Inventory-Ingredients	0	3500	0	0	0	*ICS 48 9 - Automatic Posting From ICS PO Receiver 10583	Inventory Type - Inventory G/L Account

Voucher Entry - Accrued Receiver

Payables - Voucher Entry

Action: Vouchered the Above Receiver that has been Accrued in 2015-03

Account	Description	Credit $	Debit $	Unit $	Credit Qty	Debit Qty	Comment	Source

Account	Description	Credit $	Debit $	Comment	Source
01-01-000-00-2010	Accounts Payable	3599	0	*APS 16 01 - Vendor Invoice Maintenance 111 Credit Accounts Payable	G/L Control Accounts - Accounts Payables
01-01-000-00-1403	Inventory-Ingredients	0	3500	*Merchandise G/L for inventory class: IN	Inventory Type - Inventory G/L Account
01-01-000-00-9040	Freight Expense	0	99		Manually Selected G/L Account

Reverse Accrual

Ledger - Rever Accruals

Action: Posted the Reversal in 2015-02

Account	Description	Credit $	Debit $	Unit $	Credit Qty	Debit Qty	Comment	Source

Account	Description	Credit $	Debit $	Unit $	Credit Qty	Debit Qty	Comment	Source
01-01-000-00-2030	Accounts Payable-Other	0	3500	0	0	0	ICS Posting in Summary in Detail for INVENTORY-INGREDIENT	G/L Control Accounts - Non-Vouchered Payables
01-01-000-00-1403	Inventory-Ingredients	3500	0	0	0	0	ICS Posting in Summary in Detail for INVENTORY-INGREDIENT	Inventory Type - Inventory G/L Account

Voucher Entry - Not Accrued Receiver

Payables - Voucher Entry

Action: Vouchered a Receiver for $487.50 that has not been Accrued in 2015-02

Account	Description	Credit $	Debit $	Unit $	Credit Qty	Debit Qty	Comment	Source

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 114 Credit Accounts Payable	G/L Control Accounts - Accounts Payables
01-01-000-00-1403	Inventory-Ingredients	0	487.50	0	0	0	*Merchandise G/L for inventory class: IN	Inventory Type - Inventory G/L Account

Inventory Adjustment

Inventory - Inventory Adjustment

Action: Added quantity of 500 to the Item. Selected RERUN Adjustment Code.

Account	Description	Credit $	Debit $	Unit $	Credit Qty	Debit Qty	Comment	Source

Account	Description	Credit $	Debit $	Unit $	Credit Qty	Debit Qty	Comment	Source
01-01-000-00-1403	Inventory-Ingredients	0	775	1.55	0	500	*ICS 48 2 - Automatic Posting From ICS - Unit Adjustment	Inventory Type - Inventory G/L Account
01-01-000-00-9001	Inventory Adjustment	775	0	1.55	500	0	*ICS 48 2 - Automatic Posting From ICS - Unit Adjustment	Adjustment Code - G/L Account

PLEASE NOTE* If no GL Account is assigned to the Adjustment Code, then the posting will untilize the Adjustment GL Account assigned to the Inventory Type.

Inventory Usage

Inventory - Inventory Usage

Action: Used quantity of 500 of the Item. Selected USAGE Adjustment Code.

Account	Description	Credit $	Debit $	Unit $	Credit Qty	Debit Qty	Comment	Source

Account	Description	Credit $	Debit $	Unit $	Credit Qty	Debit Qty	Comment	Source
01-01-000-00-1403	Inventory-Ingredients	775	0	1.55	500	0	*ICS 48 9 - Automatic Posting From ICS - Usage Adjustment	Inventory Type - Inventory G/L Account
01-01-000-00-9007	Inventory Usage	0	775	1.55	0	500	*ICS 48 9 - Automatic Posting From ICS - Usage Adjustment	Adjustment Code - G/L Account

Inventory Transfer

Inventory - Transfer Inventory

Action: Transferred quantity of 250 of the Item between locations in the SAME Company & Division. Selected TRANSFER Adjustment Code.

Account	Description	Credit $	Debit $	Unit $	Credit Qty	Debit Qty	Comment	Source

Account	Description	Credit $	Debit $	Unit $	Credit Qty	Debit Qty	Comment	Source
01-01-000-00-1403	Inventory-Ingredients	387.5	0	1.55	250	0	*ICS 48 10 - Automatic Posting From ICS Transfer Receiver 10584	Inventory Type - Inventory G/L Account
01-01-000-00-9004	Inventory Transfer GL	0	387.5	1.55	0	250	*ICS 48 10 - Automatic Posting From ICS Transfer Receiver 10584	Adjustment Code - G/L Account

Physical Adjustment

Inventory - Physical by Location

Action: Adjusted the Inventory for the Item from 750 to 900 for the Item. Selected TRANSFER Adjustment Code.

Account	Description	Credit $	Debit $	Unit $	Credit Qty	Debit Qty	Comment	Source

Account	Description	Credit $	Debit $	Unit $	Credit Qty	Debit Qty	Comment	Source
01-01-000-00-1403	Inventory-Ingredients	0	232.5	1.55	0	150	*ICS 48 2 - Automatic Posting From ICS - Unit Adjustment	Inventory Type - Inventory G/L Account
01-01-000-00-9016	Inventory Physical Adjustment	232.5	0	1.55	150	0	*ICS 48 2 - Automatic Posting From ICS - Unit Adjustment	Adjustment Code - G/L Account

Inventory - Physical by Location - Negative Row Offsets

Action: Increase of a Negative Inventory Row (-100 qty), initiated when above sample Physical by Location was performed.

Account	Description	Credit $	Debit $	Unit $	Credit Qty	Debit Qty	Comment	Source

Account	Description	Credit $	Debit $	Unit $	Credit Qty	Debit Qty	Comment	Source
01-01-000-00-1403	Inventory-Ingredients	0	155.00	1.55	0	100	*ICS 48 2 - Automatic Posting From ICS - Unit Adjustment	Inventory Type - Inventory G/L Account
01-01-000-00-9016	Inventory Physical Adjustment	155.00	0	1.55	100	0	*ICS 48 2 - Automatic Posting From ICS - Unit Adjustment	Adjustment Code - G/L Account

Action: Reduction of Oldest Positive Inventory Row (FIFO) to offset the Negative Inventory Row, initiated when above sample Physical by Location was performed.

Account	Description	Credit $	Debit $	Unit $	Credit Qty	Debit Qty	Comment	Source

Account	Description	Credit $	Debit $	Unit $	Credit Qty	Debit Qty	Comment	Source
01-01-000-00-1403	Inventory-Ingredients	155.00	0	1.55	100	0	*ICS 48 2 - Automatic Posting From ICS - Unit Adjustment	Inventory Type - Inventory G/L Account
01-01-000-00-9016	Inventory Physical Adjustment	0	155.00	1.55	0	100	*ICS 48 2 - Automatic Posting From ICS - Unit Adjustment	Adjustment Code - G/L Account

Work Order Production

Work Order - Produce

Action: Create 100 lbs. of the Finished Product. It uses 10 of Packaging and 100 lbs. of Ingredient. Selected PRODUCE Adjustment Code.

Account	Description	Credit $	Debit $	Unit $	Credit Qty	Debit Qty	Comment	Source

Account	Description	Credit $	Debit $	Unit $	Credit Qty	Debit Qty	Comment	Source
01-01-000-00-1413	Inventory-Formula	37.1	0	0.371	100	0	*ICS 48 4 - Automatic Posting From ICS Receiver 14967	Inventory Type - Inventory G/L Account
01-01-000-00-9017	Inventory-Work Order Formula	0	37.1	0.371	0	100	*ICS 48 4 - Automatic Posting From ICS Receiver 14967	Formula Master - Division - G/L Account
01-01-000-00-1405	Inventory-Packaging	5.25	0	0.525	10	0	*ICS 48 4 - Automatic Posting From ICS Receiver 15231	Inventory Type - Inventory G/L Account
01-01-000-00-9017	Inventory-Work Order Formula	0	5.25	0.525	0	10	*ICS 48 4 - Automatic Posting From ICS Receiver 15231	Formula Master - Division - G/L Account
01-01-000-00-9017	Inventory-Work Order Formula	42.35	0	0.09625	10	0	*ICS 48 4 - Automatic Posting From ICS WO Receiver 15501	Formula Master - Division - G/L Account
01-01-000-00-1423	Inventory-Finished Product	0	42.35	0.09625	0	10	*ICS 48 4 - Automatic Posting From ICS WO Receiver 15501	Inventory Type - Inventory G/L Account