Journal Entries from Inventory Series/Module

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Posted on by Rszeto

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Hi,

Does anyone know how Journal Entries are created from the inventory module? Typically, customers order our items, we build it, and we ship it. So these journal entries should be coming from the Sales or Purchasing Module and not from inventory module. Does anyone have any ideas as to why this is happening?

Best,

Ronald

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Tristan Clores 2,812 on at

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Hi,

What's the Source Doc of the IV transaction you are referring to? Usually, it can be an inventory variance transaction.

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L Vail 65,271 on at

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On the SOP Setup screen, you set whether the Posting Accounts should come from the Item or the Customer. How is yours set?

Kind regards,

Leslie

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soma 24,410 on at

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Vail is correct. Journal Entries will create based Item or Customer from the Posting Accounts setup.

Hope this helps!!!

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Rszeto 765 on at

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Thank you for the responses.

Tristan - the thing is, this wasn't an inventory variance transaction.

Leslie - the posting accounts are from "Items". What is strange is that there were transactions with the same item, but the JEs would come from Sales or Purchasing module. So occasionally, we'd get a JE from inventory module.

Best,

Ronald

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Mahmoud Saadi 32,738 on at

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Rszeto

When posting a sales transaction (lets say an invoice), a journal entry is created retrieving accounts from both the customer and item "mostly" (depending on your setup).

The journal entry created is shown below when posting a sales invoice;

As shown above, the inventory account, cost of goods sold and Sales accounts could be retrieved either from the customer or item (depending on your setup), The AR account is retrieved from the customer

To check the posting accounts,

Go to cards > Item > Accounts

Go to Cards > Customer > Accounts

In order to check your journal entry in inventory versus the general ledger, you could run the following statement of the HITB table (SEE30303) which stores the journal entry number;

SELECT * FROM dbo.SEE30303 WHERE JRNENTRY = '# Journal Entry Number'
SELECT * FROM dbo.GL20000 WHERE JRNENTRY = '# Journal Entry Number'

Please never hesitate to share any further inquiries,

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Rszeto 765 on at

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Thanks for all the replies!

I drilled further into the transactions and found that GP created these entries because the shipment receipt had a specific cost to it that differed from the sales order. GP automatically created this entry from the Inventory series to fix the amount in inventory.

I looked at a couple other transactions that had the same problem and these entries tend to occur when the unit costs differ in the shipment receipt and sales order.

Again, thanks for everyone's help.

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