Posting Definition for General Ledger

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Posted on by ahmed.kimo

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Hi,

Can i use posting definition to create extra lines if General Ledger daily journal created ? and what is the purpose of adding module

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Eugen Glasow 6,359 on at

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No, the posting definitions work with documents implemented within the subledger framework, and the daily GL journal is not one of them.

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Ludwig Reinhard Microsoft Employee on at

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Hi ahmed.kimo,

What kind of 'extra' lines in GL daily journals are you trying to create and why?

Best regards,

Ludwig

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Zain Mehmood 4,187 Most Valuable Professional on at

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Hi Ahmed.Kimo,

When you add the module here, the posting definition would be available for that module in the transaction posting definition page. To associate a posting definition with a specific transaction type, use the Transaction posting definitions page.

Can you further explain that what do you want to achieve in this? Thanks

Warm Regards,

Zain

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ahmed.kimo 536 on at

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Hi Ludwig,

We are looking for extra lines to record the Cost of Good Sold entry while creating any transactions in revenue accounts and this is because we are using GL only till complete the cycle with SCM modules, For example

Base transaction :

Debit : Customer Account 500 $

Credit: Revenue Account 500$

Extra transaction (we need it automatically):

Debit : COGS Account 500$

Credit: Inventory Account 500$

If there is idea better that this or any comments on the way of implementation you are most welcome.

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Eugen Glasow 6,359 on at

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Allocation rules, either instant or periodic:

stoneridgesoftware.com/.../

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Zain Mehmood 4,187 Most Valuable Professional on at

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Hi Ahmed.kimo,

Just like Eugen said, you can achieve this by using ledger allocation rules. Ledger allocation rules are used to automatically calculate and generate allocation journals and account entries for the allocation of ledger balances or fixed amounts.

It can be allocated using three strategies Basis, Fixed percentage & Equally.

You can see this for more information about ledger allocation rules https://docs.microsoft.com/en-us/dynamics365/finance/general-ledger/ledger-allocation-rules

Please mark YES against the answer that helps you. Thanks

Warm Regards,

Zain

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Ludwig Reinhard Microsoft Employee on at

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Hello ahmed.kimo,

Allocation rules have already been suggested as a tool to create the additional posting lines. I think that is a feasible approach but I am not sure about the valuation.

How do you know the COGS?

Do you just calculate them somewhere 'outside' or do you want to have them calculated as a % of the sales amount?

A major problem that I see here is the valuation method, such as FIFO, weighted average, etc.

How will you incorporate this kind of valuation to ensure that your COGS are correct?

Question:

For this transition period, do you need the COGS at the individual invoice level or would it be temporarily sufficient to have an overall COGS posted for example on a monthly basis for the different items that you have?

Best regards,

Ludwig

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ahmed.kimo 536 on at

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Hi Eugen,

This is good solution actually , but can i use it to create an extra entry rather than reallocate the posted one ?

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Eugen Glasow 6,359 on at

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Yes you can:

+100% Account A

-100% Account B

+100% Account B

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ahmed.kimo 536 on at

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Hi Ludwig,

As you mentioned we will calculate it based on percentage of the sales price but since i know that the posting definition hasn't the option to add percent of the extra entries i mentioned that we need to duplicate the entry with different accounts .

For your first question about how to ensure COGS is correct , Yes you are correct it will not be accurate balance in COGS but it has to be balanced at the time of counting the inventory once we are ready to upload the items with OnHand Qty and this will be after 3 months from finance went live.

For the second question this COGS will be mainly (The main goal) for the total period but i'm forcing to create the double entry by the system itself to convince the finance team by our system capability for each transaction separately.

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