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Work in Process / Material Consumption in Financials

Dec 06, 2017 at 01:15 PM

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Dear All,

I have an issue with postings of Inventory and Work in Process.

There are following steps automatically generated by the system:

1.Goods issue for production – WIP is credited and material inventory is debited.

2.Goods receipt from production – Finished products are debited and WIP is credited.

3.WIP clearing run – Finished products are cleared against WIP

The issue what I see is, that the material consumption is not reflected in costs. Is there any further steps needed to post the material consumption to costs?

Thank you for your help in advance.

Best Regards,

Marián Plachý

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2 Answers

Marián Plachý Dec 07, 2017 at 07:50 AM
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Hi Ramprasath,

thank you for your answer. I have check it, but Inventory account is balance sheet account and I also need, that the constupmtion of material will be reflected in costs. Maybe I should mention before, that we are building the localitaziton for Czech Republic and according to czech law one more posting needs to be there, which will debit the costs and credit account "change in inventory". Are you aware about some procedure, how can we handle this?

Thank you for help in advance.

Best Regards,

Marián Plachy

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Ramprasath Kannan Dec 07, 2017 at 03:20 AM
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Dear Marian,

Please double check the goods issue to production entry, the below entry will be posted at the time of production confirmation.

1. Goods Issue to Production - WIP - Debit, Inventory (material consumption) - Credit

2. Goods Receipts from Production - Inventory - Debit, WIP - Credit

Regards

Ramprasath

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