Batch 326 : Non-perpetual Inventory
Introduction
Introduction
Important
Note:-
The stock transactions
will be recorded using Anglo-Saxon method for the day-to-day
operation even when 'Non-perpetual Inventory' is used.
The transactions will be converted to non-perpetual
inventory method ONLY after running the
non-perpetual inventory application via menu path [purchase / To Be Processed /
Non-perpetual
Inventory]. This conversion is non-reversible and has to be done
periodically and manually due to system performance
reasons.
Non-perpetual inventory is a very useful inventory
registration for financial administration in southern
Europe.
The availability of the Non-perpetual
Inventory setting depends on the country legislation that is applicable to the
license used. Through a setting, user can select any methods for inventory
processing.
These setting is
available in menu path SGS [Systems / General / Settings / Inventory Settings]
This setting will be visualized in
the 'Inventory settings' for the following legislations.
- Belgium
- France
- Spain
- Morocco
- Luxemburg
- Hungary
- Japan
- Poland
- Thailand
- International
Non-perpetual Inventory
This option is used by those companies that do not
register their changes in inventory quantities and the financial
implications at the same time. In other words, the stock transactions in
the warehouse do not have direct consequences in the financial
system. Inventory entries are created when purchasing or selling, but
without a value attached. Thus, these values are added manually every time at
the beginning or end of the financial year or period.
Details
Description:-
Anglo-Saxon method creates these entries
for the cost part of goods that are received and issued:
|
Transaction |
D/C |
G/L |
Comments |
B/S or
P&L
|
Amount |
|
Receipt |
D |
Stock |
From item
|
B |
100 |
|
|
C |
ITR |
From settings
|
B |
-100 |
|
Purchase Invoice |
D |
ITR |
|
B |
100 |
|
|
C |
A/P |
From supplier
|
B |
-100 |
|
Fulfillment |
D |
COGS |
From item
|
P |
100 |
|
|
C |
Stock |
|
B |
-100 |
The result is then:
|
D/C |
G/L |
Comments |
B/S or P&L
|
Amount |
|
D |
COGS |
From item
|
P |
100 |
|
C |
A/P |
From supplier
|
B |
-100 |
For Non-perpetual Inventory, attention is paid on the purchase
entry (in blue below) in the financial administration, but still needs the
quantities for inventory management. Thus, the orange part is an extra entry to
make sure ITR and COGS are balanced out.
|
Transaction |
D/C |
G/L |
Comments |
B/S or P&L
|
Amount |
Transtype |
|
Receipt |
D |
Stock |
From item
|
B |
100 |
X |
|
|
C |
ITR |
From settings
|
B |
-100 |
X |
|
Purchase
|
D |
ITR |
|
B |
100 |
X |
|
Invoice |
C |
Stock
Change |
From item
|
P |
-100 |
X |
|
|
D |
Purchase |
From itemgroup
|
P |
100 |
N |
|
|
C |
A/P |
From supplier
|
B |
-100 |
N |
|
Fulfillment |
D |
Stock Change |
From item
|
P |
100 |
X |
|
|
C |
Stock |
|
B |
-100 |
X |
Note :-
1. The stock transactions will be recorded as usual (Anglo-Saxon
method) for the daily operation. The Purchase invoice will split ONLY
after running the non-perpetual inventory processing via menu path
[purchase / To Be Processed / Non-perpetual
Inventory].
2. The first part is booked in a general
journal, the second part in a purchase journal.
3. From technical point of
view, the 'transtype' will
changed from 'N' (normal - Anglo-Saxon method) to 'X' (Non-perpetual Inventory method)
The balanced result is then:
|
D/C
|
G/L
|
Comments
|
B/S or P&L
|
Amount |
|
D |
Purchase
|
From item
|
P |
100 |
|
C |
A/P |
From supplier
|
B |
-100 |
In this latest release of Batch 326,
Exact Globe has provided a more automated and better support for Non-perpetual
Inventory. Thus, the following areas have been adjusted:-
- Maintain Item Group
- Item Maintain Card
- Non-perpetual Inventory Processing
- Warehouse Management
- Stock Position in Item Maintain
Card
- MRP
- Inventory Reports
1. menu path VAP [Inventory / Reports / Stock positions]
2. menu path VAH [Inventory / Reports / Shortage]
3. menu path VAD [Inventory / Reports / Deliverable from stocks]
4. menu path VAS [Inventory / Reports / Item transactions]
5. menu path VAB [Inventory / Reports / Flow of goods]
6.
menu path VAW [Inventory / Reports / Warehouse locations]
7. menu path VAT [Inventory /
Reports / Transactions]
- Reconciliation for Purchase
Receipt and Purchase Invoice
- Stock Valuation
| Main Category: |
Support Product Know How |
Document Type: |
Release notes detail |
| Category: |
Release Notes |
Security level: |
All - 0 |
| Sub category: |
Details |
Document ID: |
06.383.240 |
| Assortment: |
Exact Globe
|
Date: |
09-05-2017 |
| Release: |
|
Attachment: |
|
| Disclaimer |