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Upload -Stock Ledger month ending activities

Sep 15, 2017 at 01:49 PM

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Former Member

Dear All,

I am working in FICO module in a Manufacturing Sector. Every month I am doing one activity as instructed my boss described as below:

One G/L - named as Upload- Stock(Balance Sheet Item). Entry get passed in this G/L as Debiting to Inventory-Store & Spares A/c( Balance Sheet Item) & Crediting to Upload-Stock A/c (Balance Sheet Item) . Amount consists for each entry Re.1 / 0.5 / 0.1 .

What I do at month end is that on the basis of Profit Center, I nullify this Upload-Stock A/c by transferring to Stores and Spares Consumed A/c ( P/L Item ).

Though the amount is not significant, but I believe the activity is important. Can anyone make me understand the logic behind this activity that why entries are made w.r.t Re.1 / 0.5 / 0.1 & then nullifying it ??!!

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