Hi,
We have a number of balancing accounts relating to each chart of accounts subgroup. I was wondering what the purpose of these accounts are? It appears that each PI relating to inventory flows through this account first but I just wanted to understand why they exist as they appear to provide no real value.
Well its hard to comment on that without any insight into your setup or your business.
But normally there is one expense account and one balance account involved in inventory transactions. And those you will find in the inventory posting group and in the general posting setup.
And when you post an purchase invoice there is also an expense account involved and you balance that transaction when you increase your inventory.
But if they say it is a system requirement they should also be able to explain to you how they have configured it and how the transactions flow in your specific company.
Hi,
Thanks for the response. Our ERP consultants indicated that the requirements of a balancing account for inventory and item charges as they enter inventory through the balancing accounts. Basically, they indicated it was a system requirement.
Based on the information you provide it is not possible to give you a very good answer to this.
We would have to investigate your setup and talk to your accountants around how they uses these accounts.
So i recommend you start there to. Check where in your setup these accounts are used and talk to your accounts around what transactions are posted to these accounts.
They are not something that is used due to system requirements in Business Central as general.
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Sohail Ahmed
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Mansi Soni
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YUN ZHU
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