GCS Software LLC

GL Inventory Auto Posting

Table of Contents

GL Inventory Auto Posting Corp Setup ......................................................................................................... 2 Receiving & WIP Variance ............................................................................................................................. 3 Inventory Adjustments ................................................................................................................................. 4 Warehouse Transfers .................................................................................................................................... 4 Shipping/Invoicing ........................................................................................................................................ 5 Sales Returns ................................................................................................................................................. 5 Available Overrides ....................................................................................................................................... 5 Finding Inventory Transactions tied to an invoice in the GL Viewer ............................................................ 7

1 | P a g e GL Inventory Auto Posting

GCS Software LLC GL Inventory Auto Posting Corp Setup

The Inventory Posting option is available as an added Inventory Control Tab in the Corporation Master. The General Ledger inventory-posting feature is available for both finished goods and/or raw material processing. It is important to note that ALL inventory postings are done at STANDARD COST.

The user may further define the posting by cost component by selecting the Override WIP, COGS, or the WIP Variance accounts by Cost Type button adjacent to each account field.

2 | P a g e GL Inventory Auto Posting

GCS Software LLC Receiving & WIP Variance

When receiving a production order, the auto posting will debit the Default inventory account and the credit the Default WIP account

The user can then enter the AP Invoice and close the PO.

Once the PO is closed and AP Invoice entered, if the Auto Post WIP Variance is checked off in the Corp Master, the system will post the Variance between Actual and Standard.

If a variance is found, the system will debit the Default WIP account and credit the Default WIP variance account. Each variance by cost source will post separately as shown in the example below.