hi everyone…
in inventory setup there is a field called “Expected Cost Posting” but i didnt get the exact use of this field so can u help me out in this. it wuld be appreciable…
The expected cost posting when activated post transactions in interim(provision) g/l accounts when the final process (purchase order, sales order, production order) has not been fully completed/closed (invoiced)
E.g: Purchase:
when u validate ur p.o using option receive only, it will create a provision in ur stock accrual account (the interim account in the inventory posting group setup) and a provision in ur supplier accrual account (the “invt. accrual acc. (interim)” account in the general posting setup).
when u invoice ur p.o, it will reverse the above provision and post in the actual stock and supplier account
Sales:
It works the same for Sales orders- except it uses the COGS Account (interim) instead.
Manufacturing:
When the output for a particular prod order has been posted, until the prod order has been closed and the adjust cost batch has been run the system will post int g/l entries in the accrual accounts.
thanks for ur reply…
a small clarification…if we enable" Automatic Cost Posting " in Inventory setup then there is any need to run “Post Inventory Cost to G/L Account” batch job…
It depends upon your version. [:D] On current versions the answer I believe is no.