Location with GLAccount code. Help.

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Location with GLAccount code. Help.

Rafael Chacón
Hi,

Sometimes it is needed to have general ledger transactions of inventory transfers to or from a location. For example, a location that is used for inventory pledged or a place with goods on consignment. In this case, the location should be related to a ledger account.


To do this, a script enters the general ledger account code for this location in the field "locations.glaccountcode". This account code overwrites the account codes of inventory categories when a general ledger transaction related with this location is created. Each time a user does an inventory transfer from or to a location with a non blank account code, the system will generate a general ledger transaction (a SysType 16 --Location Transfer-- transaction).
If you do not need accounting entries for inventory transfers, nor locations with his own GL account, leave this field in blank.

HELP:
I take the cost (for the general ledger transactions of inventory transfers) from "stockmaster.materialcost + stockmaster.labourcost + stockmaster.overheadcost AS standardcost".
But what's happen with cost for: Assembly (value="A") and Manufactured (value="M") items ? Is it this correct?

Any comments are highly appreciated! Thanks in advance!

Best regards, Rafael.

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Re: Location with GLAccount code. Help.

Pak Ricard
Hi Rafael:

I was thinking to do the very same thing few years ago, but desisted because we already have the information of stock value by location in a report.

We solved it just setting the locations slightly different according to our business needs, more than physical locations. Much easier than fixing quite a few scripts.

If this is not your plan, could you please elaborate a bit more?

Regards,
Ricard

2015-05-08 7:51 GMT+08:00 Rafael Chacón <[hidden email]>:
Hi,

Sometimes it is needed to have general ledger transactions of inventory transfers to or from a location. For example, a location that is used for inventory pledged or a place with goods on consignment. In this case, the location should be related to a ledger account.


To do this, a script enters the general ledger account code for this location in the field "locations.glaccountcode". This account code overwrites the account codes of inventory categories when a general ledger transaction related with this location is created. Each time a user does an inventory transfer from or to a location with a non blank account code, the system will generate a general ledger transaction (a SysType 16 --Location Transfer-- transaction).
If you do not need accounting entries for inventory transfers, nor locations with his own GL account, leave this field in blank.

HELP:
I take the cost (for the general ledger transactions of inventory transfers) from "stockmaster.materialcost + stockmaster.labourcost + stockmaster.overheadcost AS standardcost".
But what's happen with cost for: Assembly (value="A") and Manufactured (value="M") items ? Is it this correct?

Any comments are highly appreciated! Thanks in advance!

Best regards, Rafael.

------------------------------------------------------------------------------
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Re: Location with GLAccount code. Help.

Rafael Chacón
Hi Ricard,

Yes.

For pledged inventory (in Spanish: "inventario pignorado"), it should be (because it is a collateral for a loan):
1. Physically separated from inventory available to sell or any other inventory; and
2. Registred in an account different from "Merchandise Inventory" (goods available for sale).
It is usually that those goods are in a controlled warehouse (similar to a "bonded warehouse"), because you can not use this inventory. Theoretically it is true, but in practice (in some cases) it can differ a little bit (e.g. oil barrels: you can income new oil barrels to the controlled warehouse and then take out old oil barrels). But always you should have a separated control of quantities inside the controlled warehouse and a separated account in the register (accounting). See IAS-2, paragraph 36, bullet (h).

For goods on consignment, it is similar:
1. Physically they are in the distributor's warehouse or store (not yours), and 
2. they belong to you (the distributor --your customer-- has not purchased yet).
Again, it is an inventory that you do not have available to sell, but still yours (consignor), so you have to control (register) in an account different  from "Merchandise Inventory" (goods available for sale). Periodically you (consignor) send a statement to the consignee, stating the inventory that should be on the consignee's stores; differences should be paid immediately to you. Also, in practice, you can have a little differences (e.g. you can sent a client to your client --consignee--).

This is a quick overview. If you need other details, let me know.

Best regards, Rafael.

2015-05-07 18:50 GMT-06:00 Pak Ricard <[hidden email]>:
Hi Rafael:

I was thinking to do the very same thing few years ago, but desisted because we already have the information of stock value by location in a report.

We solved it just setting the locations slightly different according to our business needs, more than physical locations. Much easier than fixing quite a few scripts.

If this is not your plan, could you please elaborate a bit more?

Regards,
Ricard

2015-05-08 7:51 GMT+08:00 Rafael Chacón <[hidden email]>:
Hi,

Sometimes it is needed to have general ledger transactions of inventory transfers to or from a location. For example, a location that is used for inventory pledged or a place with goods on consignment. In this case, the location should be related to a ledger account.


To do this, a script enters the general ledger account code for this location in the field "locations.glaccountcode". This account code overwrites the account codes of inventory categories when a general ledger transaction related with this location is created. Each time a user does an inventory transfer from or to a location with a non blank account code, the system will generate a general ledger transaction (a SysType 16 --Location Transfer-- transaction).
If you do not need accounting entries for inventory transfers, nor locations with his own GL account, leave this field in blank.

HELP:
I take the cost (for the general ledger transactions of inventory transfers) from "stockmaster.materialcost + stockmaster.labourcost + stockmaster.overheadcost AS standardcost".
But what's happen with cost for: Assembly (value="A") and Manufactured (value="M") items ? Is it this correct?

Any comments are highly appreciated! Thanks in advance!

Best regards, Rafael.

------------------------------------------------------------------------------
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Re: Location with GLAccount code. Help.

Pak Ricard
Hi Rafael:

You are right, and with these approaches can't be currently controlled in webERP. I also could use the second scenario, thanks!!!

Regading your qeustion, in Manufactured items, somehow the field materialcost gets updated with the sum of the costs of all its components, so checking this "stockmaster.materialcost + stockmaster.labourcost + stockmaster.overheadcost AS standardcost" should be OK.

Never used Assembly items, so not sure about them.

PS: Everyday I'm more impressed about the things webERP can do and people do with webERP :-) Also, I realize how deep my ignorance is in a zillion different fields

Regards,
Ricard

2015-05-08 13:21 GMT+08:00 Rafael Chacón <[hidden email]>:
Hi Ricard,

Yes.

For pledged inventory (in Spanish: "inventario pignorado"), it should be (because it is a collateral for a loan):
1. Physically separated from inventory available to sell or any other inventory; and
2. Registred in an account different from "Merchandise Inventory" (goods available for sale).
It is usually that those goods are in a controlled warehouse (similar to a "bonded warehouse"), because you can not use this inventory. Theoretically it is true, but in practice (in some cases) it can differ a little bit (e.g. oil barrels: you can income new oil barrels to the controlled warehouse and then take out old oil barrels). But always you should have a separated control of quantities inside the controlled warehouse and a separated account in the register (accounting). See IAS-2, paragraph 36, bullet (h).

For goods on consignment, it is similar:
1. Physically they are in the distributor's warehouse or store (not yours), and 
2. they belong to you (the distributor --your customer-- has not purchased yet).
Again, it is an inventory that you do not have available to sell, but still yours (consignor), so you have to control (register) in an account different  from "Merchandise Inventory" (goods available for sale). Periodically you (consignor) send a statement to the consignee, stating the inventory that should be on the consignee's stores; differences should be paid immediately to you. Also, in practice, you can have a little differences (e.g. you can sent a client to your client --consignee--).

This is a quick overview. If you need other details, let me know.

Best regards, Rafael.

2015-05-07 18:50 GMT-06:00 Pak Ricard <[hidden email]>:

Hi Rafael:

I was thinking to do the very same thing few years ago, but desisted because we already have the information of stock value by location in a report.

We solved it just setting the locations slightly different according to our business needs, more than physical locations. Much easier than fixing quite a few scripts.

If this is not your plan, could you please elaborate a bit more?

Regards,
Ricard

2015-05-08 7:51 GMT+08:00 Rafael Chacón <[hidden email]>:
Hi,

Sometimes it is needed to have general ledger transactions of inventory transfers to or from a location. For example, a location that is used for inventory pledged or a place with goods on consignment. In this case, the location should be related to a ledger account.


To do this, a script enters the general ledger account code for this location in the field "locations.glaccountcode". This account code overwrites the account codes of inventory categories when a general ledger transaction related with this location is created. Each time a user does an inventory transfer from or to a location with a non blank account code, the system will generate a general ledger transaction (a SysType 16 --Location Transfer-- transaction).
If you do not need accounting entries for inventory transfers, nor locations with his own GL account, leave this field in blank.

HELP:
I take the cost (for the general ledger transactions of inventory transfers) from "stockmaster.materialcost + stockmaster.labourcost + stockmaster.overheadcost AS standardcost".
But what's happen with cost for: Assembly (value="A") and Manufactured (value="M") items ? Is it this correct?

Any comments are highly appreciated! Thanks in advance!

Best regards, Rafael.

------------------------------------------------------------------------------
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Performance metrics, stats and reports that give you Actionable Insights
Deep dive visibility with transaction tracing using APM Insight.
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Re: Location with GLAccount code. Help.

Rafael Chacón
Hi,

Thanks Ricard and Tim for your comments.

I tested those scripts (http://unstable.verdorama.systems/downloads/Location_with_GLAccount_code.zip ) in a commercial company (they buy and sell only finished goods, they do not re-pack) and I do not have cases for testing with Assembly (value="A") and Manufactured (value="M") items. Before release the code, I want to test those cases.

The commercial company wants an automatic and documentary way to move goods from the "merchandise inventory" account to the "pledged inventory" or "goods on consignment" accounts. That is: (1) they want the people with role that includes the security token "Inventory Management and Pricing" can do the movement instead of accounting people (Main Menu -> General Ledger -> Transactions -> Journal Entry); and (2) they want a signed paper of the movement (inventory location transfer) because the pledged/consignee warehouse is in other people's control. The scripts are now working in this company, but --if it is possible-- I prefer a solution without any extra coding.

Also, they want to allow or deny invoicing from those locations. I think invoicing from a pledged inventory location is not a good practice. But, invoicing from a goods-on-consignment location could be interesting: when someone is controlling inventory in consignee's warehouse or store, he can immediately invoice the differences (items sold by the consignee) and update this inventory.

Best regards, Rafael.


---------- Forwarded message ----------
From: Tim Schofield <[hidden email]>
Date: 2015-05-08 4:51 GMT-06:00
Subject: Re: [WebERP-developers] Location with GLAccount code. Help.
To: Rafael Emilio Chacon <[hidden email]>, Pak Ricard <[hidden email]>


Hi guys,

Perhaps I am missing something but couldn't this be done by having a
stock category of "Pledged" and moving it into that category. The code
for the GL transfer when this happens is already there so wouldn't
need any extra coding.

As I say maybe I am missing something as i am rushing....

Tim
----------
2015-05-08 2:44 GMT-06:00 Pak Ricard <[hidden email]>:
Hi Rafael:

You are right, and with these approaches can't be currently controlled in webERP. I also could use the second scenario, thanks!!!

Regading your qeustion, in Manufactured items, somehow the field materialcost gets updated with the sum of the costs of all its components, so checking this "stockmaster.materialcost + stockmaster.labourcost + stockmaster.overheadcost AS standardcost" should be OK.

Never used Assembly items, so not sure about them.

PS: Everyday I'm more impressed about the things webERP can do and people do with webERP :-) Also, I realize how deep my ignorance is in a zillion different fields

Regards,
Ricard

2015-05-08 13:21 GMT+08:00 Rafael Chacón <[hidden email]>:
Hi Ricard,

Yes.

For pledged inventory (in Spanish: "inventario pignorado"), it should be (because it is a collateral for a loan):
1. Physically separated from inventory available to sell or any other inventory; and
2. Registred in an account different from "Merchandise Inventory" (goods available for sale).
It is usually that those goods are in a controlled warehouse (similar to a "bonded warehouse"), because you can not use this inventory. Theoretically it is true, but in practice (in some cases) it can differ a little bit (e.g. oil barrels: you can income new oil barrels to the controlled warehouse and then take out old oil barrels). But always you should have a separated control of quantities inside the controlled warehouse and a separated account in the register (accounting). See IAS-2, paragraph 36, bullet (h).

For goods on consignment, it is similar:
1. Physically they are in the distributor's warehouse or store (not yours), and 
2. they belong to you (the distributor --your customer-- has not purchased yet).
Again, it is an inventory that you do not have available to sell, but still yours (consignor), so you have to control (register) in an account different  from "Merchandise Inventory" (goods available for sale). Periodically you (consignor) send a statement to the consignee, stating the inventory that should be on the consignee's stores; differences should be paid immediately to you. Also, in practice, you can have a little differences (e.g. you can sent a client to your client --consignee--).

This is a quick overview. If you need other details, let me know.

Best regards, Rafael.

2015-05-07 18:50 GMT-06:00 Pak Ricard <[hidden email]>:

Hi Rafael:

I was thinking to do the very same thing few years ago, but desisted because we already have the information of stock value by location in a report.

We solved it just setting the locations slightly different according to our business needs, more than physical locations. Much easier than fixing quite a few scripts.

If this is not your plan, could you please elaborate a bit more?

Regards,
Ricard

2015-05-08 7:51 GMT+08:00 Rafael Chacón <[hidden email]>:
Hi,

Sometimes it is needed to have general ledger transactions of inventory transfers to or from a location. For example, a location that is used for inventory pledged or a place with goods on consignment. In this case, the location should be related to a ledger account.


To do this, a script enters the general ledger account code for this location in the field "locations.glaccountcode". This account code overwrites the account codes of inventory categories when a general ledger transaction related with this location is created. Each time a user does an inventory transfer from or to a location with a non blank account code, the system will generate a general ledger transaction (a SysType 16 --Location Transfer-- transaction).
If you do not need accounting entries for inventory transfers, nor locations with his own GL account, leave this field in blank.

HELP:
I take the cost (for the general ledger transactions of inventory transfers) from "stockmaster.materialcost + stockmaster.labourcost + stockmaster.overheadcost AS standardcost".
But what's happen with cost for: Assembly (value="A") and Manufactured (value="M") items ? Is it this correct?

Any comments are highly appreciated! Thanks in advance!

Best regards, Rafael.

------------------------------------------------------------------------------
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Performance metrics, stats and reports that give you Actionable Insights
Deep dive visibility with transaction tracing using APM Insight.
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