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Hi,
I'm using NAV 2018. We utilize expected costs. From what I have read, received not invoiced inventory includes both purchased inventory and production. I understand the purchased inventory transaction flow. I'm struggling to understand the flow for the production piece. Specifically, the journal entries as it relates to production items that are received not invoiced. Is there a resource which would provide the information I am seeking?
Any help is greatly appreciated!
Renee,
Here are your entries, for Production, when Expected Costing is TRUE:
Hope this helps.
Thanks,
Steve
| PRODUCTION | ||||||
| Step | Transaction Description | Entry | Amount | Setup in | Setup Column | Details/Comments |
| 1 | Issue components to a Prod. | Dr. WIP | Standard Cost * Qty. | Inventory Posting Group | WIP Account | Per component item's Inventory Posting Group |
| Order (Consumption Journal) | Cr. Inventory | Standard Cost * Qty. | Inventory Posting Group | Inventory Account | Per component item's Inventory Posting Group | |
| 2 | Complete Finished Good | Dr. Inventory Account Interim | Standard Cost * Qty. | Inventory Posting Group | Inventory Account (Interim) | Per manufactured item's Inventory Posting Group |
| (put FG item into Inventory using | Cr. WIP | Standard Cost * Qty. | Inventory Posting Group | WIP Account | Per manufactured item's Inventory Posting Group | |
| Output Journal) | ||||||
| 3 | Change Status of Production | Dr. WIP | Unit Cost * Qty. | Inventory Posting Group | WIP Account | Per manufactured item's Inventory Posting Group |
| Order from Released to Finished | Cr. Direct Cost Applied | Direct Unit Cost * Qty. | General Posting Setup | Direct Cost Applied Account | Per Work or Machine Center's Product Posting Group | |
| Cr. Overhead Applied | Indirect Cost % and/or | General Posting Setup | Overhead Applied Account | Per Work or Machine Center's Product Posting Group | ||
| Overhead Rate * Qty. | ||||||
| *Once the status is changed to Finished, no additional | ||||||
| costs may be posted to the Production Order. | ||||||
| 4 | Run Adjust Cost - Post Cost | Dr. WIP | Actual Cost * Qty. | Inventory Posting Group | WIP Account | Per manufactured item's Inventory Posting Group |
| Periodic Activities | Cr. Inventory Account Interim | Actual Cost * Qty. | Inventory Posting Group | Inventory Account (Interim) | Per manufactured item's Inventory Posting Group | |
| Dr. Finished Goods | Actual Cost * Qty. | Inventory Posting Group | Inventory Account | Per manufactured item's Inventory Posting Group | ||
| Cr. WIP | Actual Cost * Qty. | Inventory Posting Group | WIP Account | Per manufactured item's Inventory Posting Group | ||
| Dr. Finished Goods | Actual Cost * Qty. | Inventory Posting Group | Inventory Account | Per manufactured item's Inventory Posting Group | ||
| Cr. Material Usage Variance | Actual Cost * Qty. | Inventory Posting Group | Material Variance Account | Per manufactured item's Inventory Posting Group | ||
| Dr. or Cr. Raw Mat. Inventory | Actual Cost * Qty. | Inventory Posting Group | Inventory Account | Per component item's Inventory Posting Group | ||
| Dr. or Cr. WIP | Actual Cost * Qty. | Inventory Posting Group | WIP Account | Per component item's Inventory Posting Group | ||
| Dr. or Cr. Capacity Variance | Actual Cost - Std. Cost | Inventory Posting Group | Capacity Var. Account | Per manufactured item's Inventory Posting Group | ||
| Dr. or Cr. Inventory | Actual Cost - Std. Cost | Inventory Posting Group | Inventory Account | Per manufactured item's Inventory Posting Group | ||
| Dr. or Cr. Capacity Overhead Var. | Actual Cost - Std. Cost | Inventory Posting Group | Capacity Overhead Account | Per manufactured item's Inventory Posting Group | ||
| Dr. or Cr. Inventory | Actual Cost - Std. Cost | Inventory Posting Group | Inventory Account | Per manufactured item's Inventory Posting Group | ||
| Dr. or Cr. Material Overhead Var. | Actual Cost - Std. Cost | Inventory Posting Group | Material Overhead Account | Per manufactured item's Inventory Posting Group | ||
| Dr. or Cr. Inventory | Actual Cost - Std. Cost | Inventory Posting Group | Inventory Account | Per manufactured item's Inventory Posting Group | ||
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