Looking for your expertise thoughts to resolve one of my query. Please see below issue,
I want to use same item for Inventory purpose and can be expensed out directly to project cost as well. In both the cases, purchase order will be raised though accounting entries will be different. For example, If Item No. Paint001A is bought for stock purpose,GRN entry will be;
Stock Main Stores Provision A/c Dr.
To Sundry Creditors Provision A/c
At the time of invoicing, GRN entry will be reversed and a new GL entry will be created as;
Stock Main Stores A/c Dr.
To Sundry Creditors A/c
And at the time of issuing inventory to a specific job for a particular cost category, a new entry will be created as;
Project Cost Category A/c Dr.
To Stock Main Stores A/c
This above entry will be automatic as per the defined posting profile which is working fine.
ii) Same item no. Paint001A is bought again but not for stock purpose and should be expensed out to project cost directly. In this case, can item cost booked to project cost at the time of GRN posting? it works fine if I invoice it however at the time of GRN posting, it shows that cost as committed cost but do not hit GL account. My GRN posting at GL level is important because of my monthly job costing sheet preparation.
Please note that I am doing these transactions for the same item and I can keep only one posting profile for one item.
Are you talking about Financial cost or inventory cost, Inventory cost wont come till invoiced where as it should be in Inventory cost . (you check this in On hand invetory “on hand tab”
I believe I am talking about inventory cost because financial cost will be updated only once Invoice is posted. Please correct me if I am wrong.
Once GRN posting is done, I want to show purchased item cost to my project category i.e. if in above scenario, item PAINT001 is attached to project cost category “Paint” which is attached to GL code 51001. And purchasing cost of this item is Rs. 1000 then once GRN is posted, cost of 1,000 should hit project cost paint account 51001. But my posting profile for this item is defined as inventory item.
Please suggest the way if my message is clearly communicated.
Hi from you description i understood that your requirement is to show the GRN updated inventory cost in the project cost against particular project cost category.
If Thats the case then its not possible in standard (it logical too) you can not recognized the liability till the invoiced is raised and till the invoiced is raised its not recognized as a project expense.
But you can generate report to show Cost of GRN updated material for a project to know the exiting commitment on a project
I had a word with my technical team and we are going to achieve it with a small piece of customization as it is not feasible in standard (and true, not logical too).
As per Standard AX 2012 product each item is mapped with a single item group. Linkage between item and ledger code is based upon the process cycle (i.e. Sales , Purchase , Production , Inventory etc.). It can be defined Item code wise , item groups wise, vendor code wise and procurement category wise. We have scenarios where in , we need to define multiple Ledger codes against a single Item/Item Group.
For E.g:
Stationary items with item code say ST10001 is purchased. If used for office then it will be accounted in Ledger code “printing and stationary”. If used for training purpose it will be accounted in Ledger Code – “training expense” Kindly suggest a way forward.
Scenario 2:.
For Civil related Items e.g. Earth work, Cement, Concrete etc… are required to be linked with multiple Ledger like:
If used for Industrial Buildings, it will accounted in Ledger code “Industrial Building”
If used for Non Industrial Buildings, it will accounted in Ledger code “Non Industrial Building”
If used for Staff Quarters, it will accounted in Ledger code “Staff Quarters”
If used for Roads & Pavements, it will accounted in Ledger code “Roads & Pavements”
