Difference between revisions of "Journal Entry Architecture GL Mapping"
From Adjutant Wiki
(→Accounting of Stock Item) |
(→Production of Stock Item) |
||
| (13 intermediate revisions by the same user not shown) | |||
| Line 23: | Line 23: | ||
'''AP Check:''' A ''Debit'' is made to Accounts Payable and a ''Credit'' is made to a cash account | '''AP Check:''' A ''Debit'' is made to Accounts Payable and a ''Credit'' is made to a cash account | ||
| − | :::::''For more information please see the [ | + | :::::''For more information please see the [[Print AP Checks | AP Checks]] page'' |
===Production of Stock Item=== | ===Production of Stock Item=== | ||
| Line 31: | Line 31: | ||
'''Purchase Order Receipt:''' A ''Debit'' is made to Stock Inventory account and a ''Credit'' is made to Accrued AP (P.O. Clearing) | '''Purchase Order Receipt:''' A ''Debit'' is made to Stock Inventory account and a ''Credit'' is made to Accrued AP (P.O. Clearing) | ||
| − | :::::''For more information please see the [ | + | :::::''For more information please see the [[Journal Entries PO Receipt | PO Receipt]] page'' |
'''Production Work Order Assigned:''' A ''Debit'' is made to WIP and a ''Credit'' is made to Stock Inventory account | '''Production Work Order Assigned:''' A ''Debit'' is made to WIP and a ''Credit'' is made to Stock Inventory account | ||
| − | :::::''For more information please see the [ | + | :::::''For more information please see the [[GL Generate Batches | WIP - Definition]] page'' |
'''PWO Assembly:''' A ''Debit'' is made to Stock Inventory account and a ''Credit'' is made to WIP | '''PWO Assembly:''' A ''Debit'' is made to Stock Inventory account and a ''Credit'' is made to WIP | ||
::::: Based on the setup of the assembled item, the ''Debit'' can go to a stock or non-stock inventory control account. | ::::: Based on the setup of the assembled item, the ''Debit'' can go to a stock or non-stock inventory control account. | ||
| − | ::::: ''For more information on the WIP functionality please see the [ | + | ::::: ''For more information on the WIP functionality please see the [[Journal Entry Architecture Invoicing | Journal Entry Invoicing]] page'' |
'''Ship SO:''' A ''Debit'' is made to WIP and a ''Credit'' is made to the same Inventory Control account used at the end of production. | '''Ship SO:''' A ''Debit'' is made to WIP and a ''Credit'' is made to the same Inventory Control account used at the end of production. | ||
::::: Work in Progress is used again to signify that the inventory can not be used for another order and we have not yet invoiced for it. | ::::: Work in Progress is used again to signify that the inventory can not be used for another order and we have not yet invoiced for it. | ||
| − | ::::: ''For more information on orders not yet invoiced please see the [ | + | ::::: ''For more information on orders not yet invoiced please see the [[Shipped and Not Invoiced | Shipped and Not Invoiced]] page'' |
'''Invoice:''' A ''Debit'' is made to COGS and a ''Credit'' is made to WIP | '''Invoice:''' A ''Debit'' is made to COGS and a ''Credit'' is made to WIP | ||
| − | + | ::::: ''For more information on the entire invoicing process please see the [[Journal Entry Architecture Invoicing | Journal Entry Architecture - Invoicing]] page'' | |
| − | |||
| − | |||
| − | + | [[Category:General Ledger]][[Category:Shipping]][[Category:Purchasing]] | |
| − | |||
| − | |||
| − | |||
| − | |||
| − | |||
| − | |||
| − | |||
| − | |||
| − | |||
| − | |||
| − | |||
| − | |||
| − | |||
| − | |||
| − | |||
| − | |||
| − | |||
| − | |||
| − | |||
| − | |||
Latest revision as of 08:30, 12 August 2024
Stock Inventory
Inventory Control Account: is determined by the Control Account listed on the OHF tab of the Item Master.
- If that account is blank or invalid, then the Control Account listed on the Warehouse screen will be used.
- If that account is blank or invalid, then the Control Account listed on the CID Maintenance screen will be used.
Accounting of Stock Item
Purchase Order Receipt: A Debit is made to Stock Inventory account and a Credit is made to Accrued AP (P.O. Clearing)
- For more information please see the PO Receipt page
AP Invoice: A Debit is made to Accrued AP and a Credit is made to Accounts Payable
- For more information please see the Accounts Payable page
AP Check: A Debit is made to Accounts Payable and a Credit is made to a cash account
- For more information please see the AP Checks page
Production of Stock Item
Purchase Order Receipt: A Debit is made to Stock Inventory account and a Credit is made to Accrued AP (P.O. Clearing)
- For more information please see the PO Receipt page
Production Work Order Assigned: A Debit is made to WIP and a Credit is made to Stock Inventory account
- For more information please see the WIP - Definition page
PWO Assembly: A Debit is made to Stock Inventory account and a Credit is made to WIP
- Based on the setup of the assembled item, the Debit can go to a stock or non-stock inventory control account.
- For more information on the WIP functionality please see the Journal Entry Invoicing page
Ship SO: A Debit is made to WIP and a Credit is made to the same Inventory Control account used at the end of production.
- Work in Progress is used again to signify that the inventory can not be used for another order and we have not yet invoiced for it.
- For more information on orders not yet invoiced please see the Shipped and Not Invoiced page
Invoice: A Debit is made to COGS and a Credit is made to WIP
- For more information on the entire invoicing process please see the Journal Entry Architecture - Invoicing page