Physical Inventory - Revision history

Wikiadmin: /* Accounting */

2018-11-18T17:08:45Z

‎Accounting

Wikiadmin: /* Accounting */

2018-11-18T17:05:21Z

‎Accounting

Wikiadmin: /* Accounting */

2018-11-18T17:03:52Z

‎Accounting

Wikiadmin: /* Accounting */

2018-11-18T17:03:26Z

‎Accounting

Wikiadmin: /* Accounting */

2018-11-18T17:02:51Z

‎Accounting

Wikiadmin: /* Accounting */

2018-11-18T17:02:16Z

‎Accounting

Wikiadmin: /* Accounting */

2018-11-18T16:58:19Z

‎Accounting

Wikiadmin: /* Lines */

2018-11-18T16:51:57Z

‎Lines

Wikiadmin: /* Header */

2018-11-18T16:49:17Z

‎Header

Wikiadmin: /* Header */

2018-11-18T16:48:11Z

‎Header

@@ Line 81: / Line 81: @@
 | [[Product#Accounting|Product Asset]] || (Quantity Count - Book Quantity) * Cost of the Product ||  ||
 |-
-| Warehouse Differences ||  || (Quantity Count - Book Quantity) * Cost of the Product||
+| [[General_Ledger_Configuration#Defaults|Warehouse Differences]] ||  || (Quantity Count - Book Quantity) * Cost of the Product||
 |}
@@ Line 89: / Line 89: @@
 ! style="width: 20%;| '''Account''' !! style="width: 35%;| '''Debit''' !! style="width: 35%;| '''Credit''' !! '''Comments'''
 |-
-| [http://wiki.infinite-erp.co.id/index.php?/General_Ledger_Configuration#Defaults Warehouse Differences] || (Quantity Count - Book Quantity) * Cost of the Product ||  ||
+| [[General_Ledger_Configuration#Defaults|Warehouse Differences]] || (Quantity Count - Book Quantity) * Cost of the Product ||  ||
 |-
 | [[Product#Accounting|Product Asset]]  ||  || (Quantity Count - Book Quantity) * Cost of the Product||

@@ Line 77: / Line 77: @@
 {| class="wikitable" style="width: 100%;
 |-
-! style="width: 20%;| '''Account''' !! style="width: 40%;| '''Debit''' !! style="width: 40%;| '''Credit''' !! '''Comments'''
+! style="width: 20%;| '''Account''' !! style="width: 35%;| '''Debit''' !! style="width: 35%;| '''Credit''' !! '''Comments'''
 |-
 | [[Product#Accounting|Product Asset]] || (Quantity Count - Book Quantity) * Cost of the Product ||  ||
@@ Line 87: / Line 87: @@
 {| class="wikitable" style="width: 100%;
 |-
-! style="width: 20%;| '''Account''' !! style="width: 40%;| '''Debit''' !! style="width: 40%;| '''Credit''' !! '''Comments'''
+! style="width: 20%;| '''Account''' !! style="width: 35%;| '''Debit''' !! style="width: 35%;| '''Credit''' !! '''Comments'''
 |-
 | [http://wiki.infinite-erp.co.id/index.php?/General_Ledger_Configuration#Defaults Warehouse Differences] || (Quantity Count - Book Quantity) * Cost of the Product ||  ||

@@ Line 75: / Line 75: @@
 '''Physical Inventory''' posting creates the following accounting entries if inventory increases:
-{| class="wikitable" style="width: 85%;
+{| class="wikitable" style="width: 100%;
 |-
-! style="width: 15%;| '''Account''' !! style="width: 40%;| '''Debit''' !! style="width: 40%;| '''Credit''' !! '''Comments'''
+! style="width: 20%;| '''Account''' !! style="width: 40%;| '''Debit''' !! style="width: 40%;| '''Credit''' !! '''Comments'''
 |-
 | [[Product#Accounting|Product Asset]] || (Quantity Count - Book Quantity) * Cost of the Product ||  ||
@@ Line 85: / Line 85: @@
 Physical Inventory posting creates the following accounting entries if inventory decreases:
-{| class="wikitable" style="width: 85%;
+{| class="wikitable" style="width: 100%;
 |-
-! style="width: 15%;| '''Account''' !! style="width: 40%;| '''Debit''' !! style="width: 40%;| '''Credit''' !! '''Comments'''
+! style="width: 20%;| '''Account''' !! style="width: 40%;| '''Debit''' !! style="width: 40%;| '''Credit''' !! '''Comments'''
 |-
 | [http://wiki.infinite-erp.co.id/index.php?/General_Ledger_Configuration#Defaults Warehouse Differences] || (Quantity Count - Book Quantity) * Cost of the Product ||  ||

@@ Line 77: / Line 77: @@
 {| class="wikitable" style="width: 85%;
 |-
-! style="width: 20%;| '''Account''' !! style="width: 30%;| '''Debit''' !! style="width: 30%;| '''Credit''' !! '''Comments'''
+! style="width: 15%;| '''Account''' !! style="width: 40%;| '''Debit''' !! style="width: 40%;| '''Credit''' !! '''Comments'''
 |-
 | [[Product#Accounting|Product Asset]] || (Quantity Count - Book Quantity) * Cost of the Product ||  ||
@@ Line 87: / Line 87: @@
 {| class="wikitable" style="width: 85%;
 |-
-! style="width: 20%;| '''Account''' !! style="width: 30%;| '''Debit''' !! style="width: 30%;| '''Credit''' !! '''Comments'''
+! style="width: 15%;| '''Account''' !! style="width: 40%;| '''Debit''' !! style="width: 40%;| '''Credit''' !! '''Comments'''
 |-
 | [http://wiki.infinite-erp.co.id/index.php?/General_Ledger_Configuration#Defaults Warehouse Differences] || (Quantity Count - Book Quantity) * Cost of the Product ||  ||

@@ Line 77: / Line 77: @@
 {| class="wikitable" style="width: 85%;
 |-
-! style="width: 30%;| '''Account''' !! style="width: 25%;| '''Debit''' !! style="width: 25%;| '''Credit''' !! '''Comments'''
+! style="width: 20%;| '''Account''' !! style="width: 30%;| '''Debit''' !! style="width: 30%;| '''Credit''' !! '''Comments'''
 |-
 | [[Product#Accounting|Product Asset]] || (Quantity Count - Book Quantity) * Cost of the Product ||  ||
@@ Line 87: / Line 87: @@
 {| class="wikitable" style="width: 85%;
 |-
-! style="width: 30%;| '''Account''' !! style="width: 25%;| '''Debit''' !! style="width: 25%;| '''Credit''' !! '''Comments'''
+! style="width: 20%;| '''Account''' !! style="width: 30%;| '''Debit''' !! style="width: 30%;| '''Credit''' !! '''Comments'''
 |-
 | [http://wiki.infinite-erp.co.id/index.php?/General_Ledger_Configuration#Defaults Warehouse Differences] || (Quantity Count - Book Quantity) * Cost of the Product ||  ||

← Older revision		Revision as of 16:58, 18 November 2018
Line 69:		Line 69:
	Accounting information related to the physical inventory		Accounting information related to the physical inventory

		+	A physical inventory can only be post to the ledger in case there is a difference between "Quantity count" and "Book Quantity" for a product. Otherwise there will not be anything to post to the ledger.

		+	For instance a product which "Quantity count" is 6700 units at a given date, while "Book Quantity" in Openbravo is 6000 units.
		+	That physical inventory can be posted after processed, if the cost of the product has been calculated.

		+	'''Physical Inventory''' posting creates the following accounting entries if inventory increases:
		+	{\| class="wikitable" style="width: 85%;
		+	\|-
		+	! style="width: 30%;\| '''Account''' !! style="width: 15%;\| '''Debit''' !! style="width: 15%;\| '''Credit''' !! '''Comments'''
		+	\|-
		+	\| [[Product Asset \| Product Asset]] \|\| (Quantity Count - Book Quantity) * Cost of the Product \|\| \|\|
		+	\|-
		+	\| Warehouse Differences \|\| \|\| (Quantity Count - Book Quantity) * Cost of the Product\|\|
		+	\|}
		+
		+	Physical Inventory posting creates the following accounting entries if inventory decreases:
		+	{\| class="wikitable" style="width: 85%;
		+	\|-
		+	! style="width: 30%;\| '''Account''' !! style="width: 15%;\| '''Debit''' !! style="width: 15%;\| '''Credit''' !! '''Comments'''
		+	\|-
		+	\| Warehouse Differences \|\| (Quantity Count - Book Quantity) * Cost of the Product \|\| \|\|
		+	\|-
		+	\| [[Product Asset \| Product Asset]] \|\| \|\| (Quantity Count - Book Quantity) * Cost of the Product\|\|
		+	\|}
		+
		+	For more details please review the accounting article.

← Older revision		Revision as of 16:51, 18 November 2018
Line 52:		Line 52:
	Lines tab represents the inventory count list of a given warehouse.		Lines tab represents the inventory count list of a given warehouse.

		+	[[File:PhysicalInventoryLines.png]]

		+	Some relevant fields to note are:
		+
		+	* '''Quantity Count''': that is the actual (physically counted) product stock in the '''Storage Bin''' of the warehouse.
		+	* '''Book Quantity''': that is the product stock in the '''Storage Bin''' according to Openbravo.
		+	* '''Cost''': that is the unit cost of the product.
		+	This field is optional. It can be filled in with the cost if known whenever the stock of a product is increased, otherwise the Default Cost method is used to valuate that transaction which increase the stock of the product.
		+
		+	The process buttons are:
		+	* '''Update Quantity''' updates current '''Book Quantity''' field with latest product quantity from the application. This is used in case it has changed since count list was generated. It is useful for situations when there is a significant amount of time in between generating physical inventory on Openbravo and real physical count.
		+	* '''Process Inventory Count''' finishes Physical Inventory count process after all corrections have been entered and updates the stock.
		+	* '''Post''' allows to account the inventory count once processed.

	== Accounting ==		== Accounting ==

@@ Line 13: / Line 13: @@
 These are the steps that must be followed in order to create an inventory count:
-. The Header section identifies the "Physical Inventory" process and lists its main parameters.
+. The '''Header''' section identifies the "Physical Inventory" process and lists its main parameters.
 [[File:WS255.png]]
@@ Line 24: / Line 24: @@
 * '''Warehouse''': warehouse in which the physical inventory takes place. Defaulted to the session value from the top navigation User Preferences menu.
-. There are 2 ways of entering lines into the physical inventory document:
+. There are 2 ways of '''entering lines''' into the physical inventory document:
-# Automatically, by creating a list of the products available in the warehouse and storage bins defined in the physical inventory header, that fulfill the filtering conditions specified by the Create Inventory Count List button.
+# Automatically, by creating a list of the products available in the warehouse and storage bins defined in the physical inventory header, that fulfill the filtering conditions specified by the '''Create Inventory Count List''' button.
 # Manually, line by line for certain products. This is used whenever only some products need updating.
-Create Inventory Count List process can be executed more than once for the same physical inventory. Although lines are created automatically by using the Create Inventory Count List process, this lines can later on be updated manually. Create Inventory Count List filter dialog has the following parameters:
+'''Create Inventory Count List''' process can be executed more than once for the same physical inventory. Although lines are created automatically by using the Create Inventory Count List process, this lines can later on be updated manually. '''Create Inventory Count List''' filter dialog has the following parameters:
 [[File:CreateInventoryCountList.png]]

@@ Line 46: / Line 46: @@
 ** First option is used to allow the user to enter the "real" quantity count on the warehouse and storage bin. Once the inventory count is processed, the book quantity shown by the system will be updated to the quantity count entered by the user.
 * '''ABC''': [[Pareto Product Report | Pareto Product classification]] .
 == Lines ==