Production order posting ledger Accounts

-

 After studying the Production order ledger account postings done by the system at the different stages, i found the following:

Created:  No GL Entries.

Estimate: No GL Entries. Only Estimated cost can be seen in the module from View Price Calculation

Release: No GL Entries

Start:     WIP (1142001) Debit by the full Product Cost (Direct + Indirect)

                Credit    Raw Material (1141001)

                Credit    Indirect Cost ( Ledger Accounts defined in the Costing Sheet)

Report as Finish:  No GL entries

End: Reverse all entries made at the time of the START stage(Point 1) and pass the following entries.

1)             WIP (1142001) Credit by the full Product Cost (Direct + Indirect)

                 Debit     Raw Material (1141001)

                 Debit     Indirect Cost ( Ledger Accounts defined in the Costing Sheet)

2)             Finish Good         Debit

                WIP                         Credit

3)             WIP (1142001) Debit by the full Product Cost (Direct + Indirect)

                Credit    Raw Material (1141001)

                Credit    Indirect Cost (Ledger Accounts defined in the Costing Sheet)

Please can anyone confirm me whether i found it correct or wrong or missed something.

Comments

Post a Comment

Popular posts from this blog

Warehouse Management System in AX 2012-Set Up & Configuration

-
Image
Warehouse Management System in AX 2012-Set Up & Configuration Hi All, As promised in my last post, I am back with WMS feature in AX 2012 R3. This is very interesting  and absolutely a new module that has been added to AX 2012 R3 whose purpose is basically to monitor and automate warehouse processes. WMS in AX is an Advanced distribution which provides complete real time and global view in the business efficiently. Warehouse Management for Microsoft Dynamics AX is an integrated warehousing solution for advanced distribution and order fulfillment that adds to the current capabilities of Microsoft Dynamics AX to support distribution companies and logistics providers. Overview of Features : You can configure inbound and outbound intelligent workflows. You can assign orders to clusters to pick from a single location, and configure profiles to control the validation and packing of items into shipping containers. You can create, implement...
Read more

Create Item/Product and Product master in Dynamics AX 2012 R2

-
Image
Create Item/Product and Product master in Dynamics AX 2012 R2 In This Article we are going to discuss how to create a product and Product master (Items). In 2012 R2, ‘ Item’  is replaced with ‘ Product’ . Item master was in Inventory Management Module, now there is a separate module for item/product creation ‘Product Information Management’. There are two types of Products in 2012 they are: 1. Product 2. Product Master 1. Product: Clearly identifiable products that do not have variations associated with them. You can think of them as standard or base products. Use the  Products list page  in the  Product information management  module to view and manage products. Manage Product: 2. Product Master: These serve as templates or models for  variants . The  variants  of a product master can be either predefined or created in sales scenarios by using a product configuration. A product master is associated with one or more ...
Read more

D365: Request for quotations (RFQ). Process RFQ overview

-
Image
D365: Request for quotations (RFQ). Process RFQ overview In this blog post I am going to review one type of procurement solicitation that is available within Microsoft dynamics 365 for Finance and Operations – Requests for quotations (RFQ). In general, RFQ is used when the company wants to receive competitive offers from several vendors for the goods they might purchase. As the result, company invite suppliers into a bidding process to bid on specific products or services, it is some kind of putting out goods to tender or requesting for proposal. And now it’s time to step up to the plate and follow the process presented below: I would like to bring to the table details on creating an RFQ, sending it to vendors, and evaluating bids returned by vendors. The first step in the RFQ process is to set up prerequisites. The following prerequisites are required for this functionality. Let’s break each setting down… Procurement and sourcing parameters for requests for ...
Read more