Inventory Item numbers linked to GL accounts

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All,

I am trying to find out how I can link specific items in inventory to specific revenue/sales GL accounts.

Our main goal is to have the sales module system book inventory items into specific revenue/sales accounts when the order is complete and sold. We were unable to find how to successfully link the two (if possible). Any advice would be most helpful.

Thanks,

John

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Community Member on at

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RE: Inventory Item numbers linked to GL accounts

Thank you all for this highly useful information. I just received these and will pass this along to our team. I will update you all on how this works. Again, thanks for the feedback. I will be back with you all shortly.

Best Regards,

John

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Mahmoud Saadi 32,738 on at

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RE: Inventory Item numbers linked to GL accounts

One more last thing to add up to the valuable suggestions above. Once accounts are linked and configured, you can change a specific account segment to reflect a specific branch, cost center or SKU as derived from your account structure. This is known as the site segment which encompasses the inventory, Sales, COGS, Markdown, and Inventory returns accounts.

If this is considered of an added value to your design, let us know so that we may dig further into associated tiny details.

Your feedback is highly appreciated,

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L Vail 65,271 on at

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RE: Inventory Item numbers linked to GL accounts

Hi,

In addition to my colleagues comments, there is a box on the SOP setup window you are going to want to make sure is checked. It directs the software to look at the item number or the customer for the sales account (and other accounts).

It looks like this:

Kind regards,

Leslie

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Richard Wheeler 75,848 Moderator on at

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RE: Inventory Item numbers linked to GL accounts

Please remember, the link occurs at the time of posting and will depend on whether the item is an Sales Inventory item or not. The inventory and cost of sales accounts will work in tandem based on your valuation method. The amount of the sale will depend on how you have sell prices set up.

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babubaskaran@outloo... 12 on at

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RE: Inventory Item numbers linked to GL accounts

Hi John,

You can enter the required account on

Inventory >> Cards >> Item >> Accounts

Use the Item Account Maintenance window to assign specific accounts for tracking your company’s items. You can select accounts that have previously been added to your chart of accounts using the Account Maintenance window, Fixed Allocation Maintenance window or Variable Allocation Maintenance window.

and on sales setup you can assign posting accounts from Item

Sales >> Setup >> Sales Order Processing

Use the Sales Order Processing Setup window to set up Sales Order Processing default information, such as posting accounts and the type of history you plan to keep.

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Richard Wheeler 75,848 Moderator on at

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RE: Inventory Item numbers linked to GL accounts

To assign GL accounts to am item just click on the accounts button at the bottom of the screen.

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