Skip to Content

cost center for balance sheet

Hi All,

I need one input from you as I getting cconfursion, I have one inventory account however, I have to collect the cost for this inventory to a particular cost center for settlement of cost to different cost center based on perccentage .

As I know that balance sheet account cannot be created as a cost element, so my question is how should I collect the cost for this inventory account to a particular cost center so that I can do settlement to different cost center.

Can this is possible to capture the cost to a real cost center.

Thanks in Advance

Regards:

Jamshed

Add a comment
10|10000 characters needed characters exceeded

Assigned Tags

Related questions

3 Answers

  • Best Answer
    Posted on Sep 17, 2015 at 11:18 AM

    Hi Jamshed,

    You can create a cost element for inventory account as statistical cost element with category as 90. However, you can post this cost element as statistical posting not a real posting.

    Regards,

    Mukthar

    Add a comment
    10|10000 characters needed characters exceeded

  • author's profile photo Former Member
    Former Member
    Posted on Sep 17, 2015 at 12:43 PM

    Hi Jamshed,

    you can settle inventory value to a cost element, for this cost element you can assign default cost centre in OKB9. In this settlement you can give a specific percentage to settle as per your requirement.

    Please let me know if you need any further help.

    Regards,

    Ravi

    Add a comment
    10|10000 characters needed characters exceeded

  • Posted on Sep 17, 2015 at 02:43 PM

    Hi,

    Thanks for your valuable comments....

    I am assuming if I will assign the cost center in OKB9 then everytime I am taking the same material, the value will go the same cost center however, its a bit complicated in case of other material for the same material type.

    Correct me if am wrong; I am planning to procure the material as stock account, wherein I am passing the entry:

    Inventory of consumable ac dr

    TO, GR/IR account

    At the time of comsumption of this material (Gas/petrol) I will capture the value to the cost center. I think by following this method, I can capture the cost to a particular cost center, which again I can use for settlement to different cost center. Here the entry is:

    Consumption of consumable acc.. dr

    To, Inventory of consumable acc..

    Can you please let me know if I am wrong/right..

    Thanks in advance...

    Regards:

    Jamshed

    Add a comment
    10|10000 characters needed characters exceeded

Before answering

You should only submit an answer when you are proposing a solution to the poster's problem. If you want the poster to clarify the question or provide more information, please leave a comment instead, requesting additional details. When answering, please include specifics, such as step-by-step instructions, context for the solution, and links to useful resources. Also, please make sure that you answer complies with our Rules of Engagement.
You must be Logged in to submit an answer.

Up to 10 attachments (including images) can be used with a maximum of 1.0 MB each and 10.5 MB total.