items posted using counting journal, does impact in ledger?

(0) Share

Report

Posted on by akshaykupra

516

items posted using counting journal, does impact in ledger?or counting journal transcation can i see in trail balance or balance sheet.

Here i made lots of transcation from counting journal , now i want to see these counting values in balance sheet , is this possible?

Please help me out. thanks

*This post is locked for comments

I have the same question (0)

All responses (10)

Answers (1)

Suggested answer

Ludwig Reinhard Microsoft Employee on at

Like (0)

Report

Hello akshaykupra,

Posting counting journals typically affect your ledger and you will see it in your trial balance and balance sheet. Just open the Report/forms and you should be able to see those transactions.

Best regards,

Ludwig

Was this reply helpful? Yes No
akshaykupra 516 on at

Like (0)

Report

Hello Ludwig,

there is no transactions in Balance sheet and trial balance. i am checking inventory management - >setup -> posting -> posting , and inventory table , there are item group in loss and profit i have checked mentioned ledger account , there are no transaction also.

i am not sure that transaction exist when we do posting by p&l or counting journal?

akshay

Was this reply helpful? Yes No
Ludwig Reinhard Microsoft Employee on at

Like (0)

Report

Hi akshaykupra,

I see. can you provide some additional information on the setup of your items especially the item model group and the cost prices that are setup for those items? Can you also provide a screenprint of the posted counting journal and let us know what kind of items are posted there.

Many thanks,

Ludwig

Was this reply helpful? Yes No
akshaykupra 516 on at

Like (0)

Report

this is counting journal line item number is containing this ledger account in item group.

i have set in all the same account no. so be sure that transaction exist but there is no transaction.giving me nothing

Was this reply helpful? Yes No
Ludwig Reinhard Microsoft Employee on at

Like (0)

Report

Hi akshaykupra,

Can you show the item model group that is linked to your item and how the inventory model group is setup?

Can you identify a cost price in the general tab of your item and/or in the item master?

Ludwig

Was this reply helpful? Yes No
akshaykupra 516 on at

Like (0)

Report

this is the model group linked with is item and there are cost price also

thanks

Was this reply helpful? Yes No
Suggested answer

Ludwig Reinhard Microsoft Employee on at

Like (0)

Report

Hi akshaykupra,

Your inventory model group says that you do not post physical and financial inventory => the respective ledger integration parameters are not active. That's why you cannot identify anything in your trial balance and balance sheet.

Please do not simply activate them as there might be good reasons why the setup has been made this way. I would suggest that you talk about this issue with your system admins and Project Manager before making a change here.

Best regards,

Ludwig

Was this reply helpful? Yes No
akshaykupra 516 on at

Like (0)

Report

Hello Ludwig,

yes sir just tried to tick in post physical and financial inventory and then post journal , now showing in transaction of ledger account. but i can see the transaction from now on ,not the previous on.

now i am here have responsible to setup things. can you tell me what should i have in mind when i will tick in both option.

Was this reply helpful? Yes No
Verified answer

Ludwig Reinhard Microsoft Employee on at

Like (0)

Report

Hi akshaykupra,

What you need to have in mind whether or not you can tick the options is the nature of the items (stocked vs. non-stocked/Service) and whether there are some Interfaces to other external warehouse systems that might 'feed' your inventory and ledger somehow.

Best regards,

Ludwig

P.S. If there is nothing else we can help you with in this regards, it would be great if we could close this case by verifying the answer.

Was this reply helpful? Yes No
Suggested answer

guk1964 10,888 on at

Like (0)

Report

To supplement Ludwig's comments:

Counting journals (Inventory & warehouse mgmt> Journals> Item counting> Counting) for the purpose of stock/ item counts, do not offset the movements to a ledger account. You cannot select a default offset account, the field is greyed out. (Setup> Journals> Journal names, inventory). The adjustment impacts the inventory asset account and the profit/loss account from the posting setup. It will always post to the offset account of profit/loss.

When a discrepancy is discovered during the count, enter the counted quantity onto the counting journal, then on posting it, the system will automatically select the profit/loss GL posting settings for the adjustment. The transaction reference will always be the counting process.

Adjustment journals are used when a profit/loss type adjustment is made and those automatically post to the profit/loss GL posting profile.

If using scanners to process your inventory, then consider using the movement journal. A journal with a pre-defined offset account, makes it easy for Finance to understand the postings. This journal will generate transactions as lines that are placed into the journal. You would need to first write down all of your physical inventory, and then back the scanning the inventory into Ax. A report of the written off inventory provides a check list for what inventory is “missing” once the counting is completed. Rather than write it off consider moving it a separate "missing stock warehouse" This lets your cycle counter know for what potentially mis-booked inventory he should be looking on future cycle counts. The potential write off the stock in this warehouse can be accrued and the actual write off can be done at the year inventory with auditor approval.

1 people found this reply helpful.

Was this reply helpful? Yes No