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Inventory G/L class

Bgetty

Active Member
Hi all
I am just looking for how others have set up the G/L classes on their inventory items. We implemented World A7.3 in 1998 & are presently implementing OW Xe and in my estimation we may not have set them up very well. We seem to have set up separate G/L class=object account. There doesn't seem to be any adequate summarization and reporting, utilizing the G/L class, in our inventory setup.






Brian Getty, CGA
Kinross Gold-Timmins Operation
CANADA
WorldSoftware A7.3 Cum 11/Coexistence X3 V4R5
 

dale_draper

Well Known Member
Sounds about right. There are plenty of other fields to use for reporting.
And G/L class is just one of them. We are set up the same way, GL class =
object account = product grouping / product class and same sales and COGS
accounts, across the company and all B/P's. We only have 8 G/L classs's and
5 B/P's . When we wish to report or summarize futher we use classification
codes, of which there are more than plenty for almost any usage.

Dale
a7.3c9
v4r4
 

curryj

Well Known Member
We used the scheme G/L class = subsidiary. The objects equate to inventory
balance, sales revenue, discounts & allowances, COGS, dumps & damages
expense, etc. The subsidiaries then provide a breakdown of each category by
product line.

Example: G/L class IN51 is Milk & Cream items. G/L object 5010 is Sales
Revenue. Account 5010.51 is Sales Revenue - Milk & Cream products. On our
financial reports, the subsidiaries all roll up into the "header" object.
We're quite happy with this set up, although we kept the number of product
lines to 9, which is too low, and we wish we had more.

__________________________________________________

Jon Curry
Farmers Co-operative Dairy Limited A7.3 Cum 8

Mailing Address:
P.O. Box 8118
Halifax, Nova Scotia, Canada B3K 5Y6

Physical Address:
745 Hammonds Plains Road
Bedford, Nova Scotia, Canada B4B 1A8

Phone: (902) 835-4005 Ext. 3155
Fax: (902) 835-1583
E-mail: jon.curry@farmersdairy.ns.ca
 
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