Finance | Project Operations, Human Resources, ...

item group and item model group Financial Impacts

(0) Share

Report

Posted on by p_priya

Good Morning Commemorates

I want to understand the concept of item group and item model group Check box impact one by one.

Can any body has any scenario or Link by which i can understand the impact of that.

Thanks and Regards

All responses (4)

Answers (0)

Suggested answer

Ludwig Reinhard Microsoft Employee on at

Like (1)

Report

RE: item group and item model group Financial Impacts

Hello p_priya,

A number of almost similar answers have been provided here.

Have they been able to answer your question?

If so, could you mark them as verified or alternatively let us know if you need any other information?

Many thanks and best regards,

Ludwig
Suggested answer

Junaid Idrees on at

Like (0)

Report

RE: item group and item model group Financial Impacts

Hi Priya,

Item Model Group and Item Groups: Both are used to categorize/Group your items based on business needs.

Item Groups: It basically controls ledger posting. let's say you have to maintain different Inventory account, Revenue Account, Discount account, Deferred account for respective item groups (paper clips, Markers, Pens, Pencils)

Item Model Groups: it has an impact on inventory costing principles (Weighted Average, FIFO, LIFO, Moving average).It also controls if item is stockable or service based.
Suggested answer

Ludwig Reinhard Microsoft Employee on at

Like (0)

Report

RE: item group and item model group Financial Impacts

Hi p priya,

In a nutshell from my an accountants perspective:

* Item groups define the accounting, i.e. the ledger accounts used for posting your items

* Item model groups define the valuation e.g. fifo, lifo, etc.

There is of course more but that you can do with both groups but that's their main idea.

Best regards,

Ludwig
qianwang 7,153 on at

Like (1)

Report

RE: item group and item model group Financial Impacts

Hi p_priya,

Item groups are used to manage inventory by dividing inventory items into groups. And post transactions to different accounts. docs.microsoft.com/.../about-item-groups

An item model group will determine the rules for handling your inventory transactions of type issue and receipt. Please refer to this blog. axtradeandlogistics.blogspot.com/.../item-model-groups-ax-2012.html