Good Day to All!,
We are currently evaluating GP 10.0. Just have some questions on how to set up our company with 16 store/outlets which is in the restaurant & retail industry. How do we set this up in the following scenarios:
1. We want to track the Sales, COGS, Expenses and Inventory per store. Do we have to create a create a chart of accounts per store or can we have a single chart of account applied across all Companies/Business Units?
Thank you.
*This post is locked for comments
Check out Flexicoder by e-one.
www.eonesolutions.com/content.aspx
It can recode sales in a variety of ways.
Tim
Assalamu Alaikum,
Thanks for your prompt answer.
Hello Muhammed,
Thank you for your question and welcome to the community!
With reference to the concept of the cost centers allocation, we would normally use the Analytical Accounting module to manage cost centers expenes without the need of having accounts for each cost center, and to assign budgets for each, however in your case you are discussing an outlets that might be used as inventory sites, therefore it is actually depends on if you are looking to distirbute the accounts over the sites, and will be having a separate account number for each site in the general ledger, then it is a must to have the cost centers allocated in your chart of account not on Analytical Accounting so that you can utilize the inventory accounting flipping for sites, but not having a separate chart of account for each store.
I would suggest you create one chart of account for the company and specify a segment within your chart to identify the stores, this is what I assume the best approach to have your needs implemented.
Under review
Thank you for your reply! To ensure a great experience for everyone, your content is awaiting approval by our Community Managers. Please check back later.
As AI tools become more common, we’re introducing a Responsible AI Use…
We are honored to recognize Andrés Arias as our Community Spotlight honoree for…
These are the community rock stars!
Stay up to date on forum activity by subscribing.
