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Dynamics 365 Community / Forums / Microsoft Dynamics GP (Archived) / Cogs and Inventory -De...
Microsoft Dynamics GP (Archived)

Cogs and Inventory -Default Accounts

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Posted on by Praveen Kumar RR 1,552

Dear Experts,

I am trying to create a SOP transaction and when tried to print Edit Posting Journal, i can see distribution error.

And I understand the need for setting up Default Posting Account for Inventory and COGS at the Item Master level.

I checked the different GP Instance where these Distributions were not required and able to post without an error.

Kindly provide clarity on where i am missing and what should be the workaround to fix this.


Thanks,

Praveen

*This post is locked for comments

I have the same question (0)
  • babubaskaran@outlook.com Profile Picture
    babubaskaran@outloo... 12 on at

    Praveen can you please share the screen shot of the error.

  • Praveen Kumar RR Profile Picture
    Praveen Kumar RR 1,552 on at

    Hi Babu,

    Please check below snapshots taken from Sales Edit Posting Journal.

    A. TO RECREATE ISSUE:

    I just removed 2 default accounts from Posting Accounts Setup window for the series Inventory

    1. Inventory Control

    2. COGS

    B. TO FIX THE ISSUE:

    Issue got fixed by exactly setting up the Inventory and COGS accounts in Posting Accounts window,

  • Praveen Kumar RR Profile Picture
    Praveen Kumar RR 1,552 on at

    using rich formatting option, i pasted the snapshots but not sure why it is not visible under my response post

  • Bill Campbell Profile Picture
    Bill Campbell 12 on at

    When you want to enter picture, you have to 'save' and use the insert media option to retrieve from your computer folder.  You can not 'paste' directly to the screen.

    If I am wrong on this, please correct.

    Hope this helps you to get the error messages posted.

  • Suggested answer
    Bill Campbell Profile Picture
    Bill Campbell 12 on at

    I have encounterd issues like this and here is my understanding.

    1. If the item does not have posting accounts, then the transaction looks at the customer or vendor for posting

    2. if the Customer / Vendor does not have assistance to complete the posting accounts, then the system looks at the Posting Accounts Defaults.

    If there are no DEFAULTS then the system generates an error.

    So, look at the item first.  That is where you should have the specific posting accounts created.  This can be applied at the ITEM CLASS level to make the correction faster.

    Hope this helps.

  • Verified answer
    Praveen Kumar RR Profile Picture
    Praveen Kumar RR 1,552 on at

    When i get this error, i tried for setting up default Posting Account for Inventory Series since i am using Item option in SOP Setup window.

    This works fine by providing Default Accounts for Inventory and COGS.

    I was seeking for a clarity that the setting up of default accounts is mandatory or not.

    Thanks for help !!

  • Suggested answer
    babubaskaran@outlook.com Profile Picture
    babubaskaran@outloo... 12 on at

    Praveen as Bill mentioned the account will default from item first, then customer and then it will look for default posting accounts.  So if you are asking about default posting accounts it is not mandatory.

  • Praveen Kumar RR Profile Picture
    Praveen Kumar RR 1,552 on at

    Babu, just a brain-storming point, i validated the Default Account Setup in at-least one of 3 levels,

    Posting Accounts,

    Item Level,

    Customer Level

    because, i tried for Edit Posting Journal with and without Account Setup.

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