axis diplomat 2024 Modules

Integrated Stock Ledger

 View PDF

Stock movement transactions are posted to the Nominal Ledger, in real time once the nominal period end for the previous period has been run, so that receipts increase and issues decrease the value of the Balance Sheet Stock Ledger Control Account (Stock on Hand), whilst the double-entry for each transaction is posted to the appropriate nominal account for the type of movement. For example:

• The cost value of receipts of goods from purchase orders will increase the liability on the Goods Received not Invoiced account: the liability is reduced when the purchase invoice is booked to that account
• The cost value (from the receipt being issued) on a sales issue transaction will increase the Cost of Sale account specified for that stock item
• For users of the Compact MRP module, the Work-in-Progress account will be increased by the cost value of components issued to works and when the Works Order is completed the Finished Goods account will be increased by the cost value of the finished item received from works, while the cost value of the components used will be transferred from the Work-in-Progress account to the Finished Goods account, reducing the value of both the Work-in-Progress account and the Finished Goods account
• Stock transfer transactions are not posted to the Nominal Ledger as they do not affect the stock valuation
• Other non-specific stock movement transactions will be posted to designated stock adjustment accounts for investigation and write-off if appropriate

The Integrated Stock Ledger module is not suitable if you

• allow negative stock
• use provisional costs on goods received
• have the Hire Management or Stock Depreciation modules

 View PDF