Account number for transaction type inventory profit does not exist

Dynamics 365 for Finance and Operations/AX User Forum
1

While running inventory closing process i m facing the error msg “Account number for transaction type inventory profit does not exist”

plz guide

2

Hi,

It seems that ledger account is missing for inventory group which is coming under closing.

Make sure that inventory profit ledger is defined in all item group under inventory tab.

Pranav…

3

What is the difference between profit ledger and Fixed profit ledger under Inventory tab ? Could you explain with an example.

4

The fixed, I believe, is when you use standard costs and the cost on an inventory journal transaction is differnet to the standard cost, whilst the profit/loss is used for the actual writing on/off of the value (standard or not)

5

Understood.

How do we increase / decrease the inventory value in AX ? Do we have any revaluation journal like NAV ? If Yes , please let me know the path.

6

There is no revaluation journal, the inventory close and adjustment procedure allows you to adjust transactional costs.

7

Thanks Adam ,

If there is no inventory value journal in AX , you mentioned in the above statement like inventory value can write on/ off . Can you explain how it is possible ?

8

If you write a quantity of 10 off stock it writes off the associated cost as well.

9

I thought with out write off the Qty , we can revalue the inventory .

Even we write off / on the Qty then the associated value will come down /up , but how it would be Profit / Loss ?

10

Yes you can revalue without a write off through the inventory close.

If you write on and off you create an inventory profit or loss transaction because you have created stock from nothing (profit) or lost it (loss)

11

Thanks Adam ,

Actually what i am looking is last year i have qty of 100 @ 200 total value is 20000. Now that item cost of one piece @ 300 as per market. So now i need to increase that item value . Is it possible ? Is yes , can you throw the path ?

12

Make the adjustment through the inventory close process.

13

Thanks Adam .

14

I’m getting this error too, but there is an inventory profit account defined for the group. We have only one item group and all items are in the same group, only this item complains, and then after a number of transactions have been apparently successfully processed for this and other items!

Hans