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Hello gurus,

As we have missed to put some details on master data and PIR, BOM has not exploded in PO and we have recognised it very late. 7 PO's GR done and materials are sold already. So components are still staying in stock. It is causing stock level error and also It is causing to pay more tax to government as our inventory seems much more. How will I consume these components by combining the cost with correct finished good?

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2 Answers

  • Dec 13, 2018 at 08:41 AM

    Hi There,

    In a nutshell you are trying to say that you sold the FG which you have received from subcontractor also you have not consumed the components which physically you send to the subcontractor but forget to mentioned in PO.

    So you need to follow the same exercise for all of goods, you can do scrapping or GI against cost centre to avoid stock mismatch for future reports!

    Thanks,

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  • Dec 12, 2018 at 05:19 PM

    As materials are already sold, so COGS G/L is already accounted.

    Since purchase order doesn’t have components, you can’t consume raw materials through purchase order. You may need to consume it to cost centre separately and price adjustment for FG must be performed separately.

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