<< Click to Display Table of Contents >> Navigation:  Welcome to Maxim Help Articles > GLINV Inventory - General Ledger Relationship

Every inventory location holds four general ledger interface accounts. This allows a general ledger sales account to be allocated at an inventory item level.

 

        The GL Interface Type determines the output structure of the general ledger account.

 

Transaction Types

 

Stock Receipt

 

Dr        [GLPC]Stock On Hand                                        Inventory Type = REC

 

Dr        GST

 

Cr        Accounts Payable

 

 

Stock Transfer

 

Dr        Transfer To Location        [GLPC]Stock On Hand                Inventory Type = REC

 

Cr        Transfer From Location        [GLPC]Stock On Hand                Inventory Type = SLD

 

Dr/Cr        Transfer From Location        [GLPC]Cost Of Sales

 

(Difference between Item Cost and Transfer Amount)

 

 

Retail Sale Invoice

 

Cr        [GLPC]Sales, or Internal Transfers if the        Customer Type  = Inter Company

                                                         Inventory Type   = SLD

 

Dr        [GLPC]Cost Of Sales

 

Cr        [GLPC]Stock On Hand

 

Dr        Accounts Receivable

 

Cr        GST

 

 

Job Transfer

 

Cr        [GLPC]Internal Transfers                                        Inventory Type = SLD

 

Dr        [GLPC]Cost Of Sales

 

Cr        [GLPC]Stock On Hand

 

Dr        [JobPC]GL Cost Account From Job Activity Table

 

 

Job Invoice

 

Cr        [JobPC]Sales as per Job Options Sales Analysis Type

 

Dr        Accounts Receivable

 

Cr        GST

 

Stock Adjustment

 

 

Dr/Cr        [GLPC]Cost Of Sales                                        Inventory Type = QAJ

 

Cr/Dr        [GLPC]Stock On Hand

 

 

NOTES

 

[GLPC] =                General Ledger Profit Centre. Is obtained from the Department Table

                 [DVSN] that is linked to the Inventory Location.

 

[JobPC] =                Job Profit Centre. Is the General Ledger Profit Centre allocated to a job.

                 This is initially obtained from the Job Link table. If an employee is

                 assigned to the        job, the Job Profit Centre may change, depending on

                 the Location of the employee.

 

Cost Of Sales =                Is the cost of the item at the time of the sale or transfer. This cost is

                 dependent on the costing method used for the product group.

 

[GLPC]Sales account =        Is used as the control break for the associated [GLPC]Cost Of Sales and

                 Stock On Hand accounts.

 

[GLPC]        Stock On Hand = Is a balance sheet type account. These accounts need to add to a Type 4

                 Stock On Hand account that is in the Balance Sheet section of the chart of

                 accounts.

 

Stock On Hand        =        Represents the actual stock on hand as at the financial report period.

                 The stock on hand value should be the same as the stock value from

                 the Inventory Stock On Hand report.

 

 

Inventory Types

 

REC        Updates product Purchase / Transfer In history

SLD        Updates product Sales / Transfer Out history