Exact Globe

Release 370: Production journalizing for Poland

Background

Prior to Release 370 in production order upon journalizing financial entries system will use standard method for all the countries, every record will book into respective production general ledger (GL) account predefine in manufacturing settings. How system generates financial entries during various production processes has been working perfectly, but this is not practical in Poland. Due to unique accounting practice, the current journalizing of financial entries upon production issue, receipts and completion are not permitted in Polish law.

What has been changed
Menu path
Manufacturing/Entries/Production orders
Manufacturing/Entries/Issue
Manufacturing/Entries/Receipts production
Manufacturing/To be processed/Complete
 

A new method to journalize financial entries will be available for Poland legislation; two (2) additional GL accounts (stock change and stock coverage) will be introduced in item master and item group. Major area will be affected are production issue, receipts and completing a production order. For production order with Work In Progress (WIP) or without WIP will also be different how system journalizes those entries, apart from adjusting the standard way of journalizing entries system will also creates additional entries to book into stock change and stock coverage accordingly.

All the manufacturing reports and overview has been adjusted to support this new functionality and this new method only applies to actual records, as for budget records it will remain unchanged.

Prerequisite

Since this new method will creates additional GL so it is important for users to set up this mandatory GL in each of the item to be used in the production. During production issue, receipts, extra issue or extra receipts, if stock change and coverage GL accounts are not defined, message will be prompted and this particular production order will not be able to proceed.

Item group

Item maintenance

In order for system to book correct entry according to new method users must set up corresponding GL account, namely stock change and stock coverage. This two (2) GL accounts will be available in item group to allow users predefine desire GL account and upon create new item to link with this item group, these two (2) GL accounts will automatically linked. Various validations also in placed to prevent data inconsistency and system will prompt warning message when such situation encountered.
 

Change to production GL accounts in used

Change to permitted GL account


System will not perform any recode when changing of stock change and stock coverage GL accounts, warning message will be shown to inform users by changing both GL accounts will causes all the existing production orders not be able to view in most of the reports and overview.

Journalizing financial entries in production order - Original (No-WIP)

Using production-WIP method is similar to No-WIP method except all the cost, revenue will be booked into production WIP GL account initially and upon completion all the entries made to WIP will be reversed to respective GL accounts accordingly.

Journalizing financial entries in production order - Poland (No-WIP)

Journalizing financial entries in production order - Poland (Production-WIP)