Physical inventory Doc. G/L assignment

[Former Member]

Dear Experts,

Whenever I am Running the physical inventory transaction the entry of the accounting doc is going like,

250001 RM&Bought out comp 4,282.362-

410001 RM Consumption 4,282.362

Is it the correct entry or Insted of consumption account it should go to the Gain/Loss Account??

Regards,

Mehul

[Former Member · Accepted solution]

Hi,

Yes, the correct entry or Insted of consumption account it should go to the Gain/Loss Account.

But the names are given by FI persons. you may check with your local FI consultant to change the decsription of particular G/L ac.

regards

[former_member756545]

Hi,

The postings in the system are correct. please check with your client. if they want to seperate the expense and revenue from physical inventory, then we need to asssign different GL's for Expense/Revenue. the current entries are fine unless your client demands for expense/Revenue account postings..

Regards,

Girish