clmates
Reputable Poster
Hi to all.
Is there any spanish company who are using inventory and purchasing accounting?
We have been using purchasing accounting since 2003, now we are seeking to implement inventory accounting, but I have doubts in how the expenses and inventory accounts are handled.
Currently when we receive an item, we are accounting like this, ie:
we receive 1000 € of raw materials, so we go to P4312 to make the reception and the journal entries generated are:
1000 € - 6010 (Expenses) -> -1000 € 4009 (Invoices Pending)
But we need that this amounts be also be accounted to inventory in order to keep our inventory value current, so and additional journal entry should be like this:
1000 € - 3100 (Inventory) -> -1000€ - 6110 (Inventory Variance)
how you solve this?
we also want to integrate this with Advanced Cost Accounting, so we need to make all journals to register item number and a few cost objects.
anyone?
Thanks
The journal entrie should
Is there any spanish company who are using inventory and purchasing accounting?
We have been using purchasing accounting since 2003, now we are seeking to implement inventory accounting, but I have doubts in how the expenses and inventory accounts are handled.
Currently when we receive an item, we are accounting like this, ie:
we receive 1000 € of raw materials, so we go to P4312 to make the reception and the journal entries generated are:
1000 € - 6010 (Expenses) -> -1000 € 4009 (Invoices Pending)
But we need that this amounts be also be accounted to inventory in order to keep our inventory value current, so and additional journal entry should be like this:
1000 € - 3100 (Inventory) -> -1000€ - 6110 (Inventory Variance)
how you solve this?
we also want to integrate this with Advanced Cost Accounting, so we need to make all journals to register item number and a few cost objects.
anyone?
Thanks
The journal entrie should
