Dear all,
I want to post the Opening inventory stock before going live, so anyone can help me out in how to post the opening stock.
thanks in advance
Regards,
Satya
Use the Item Journal to store the item / location and quantity.
You MUST check the following very important issues:
item costs - what costing method is being used
entry type - purchase or positive adjustment.
Recommend that you try the process in your test dataase to see the differnt G/L postings that are generated.
There is another way depending on the quantity of item numbers you are managing; it might be easier for you to create an item counting journal and load the stock information line by line.
Via journals it is quite practical because you can leave them ‘open’ and validate only when you are good & ready thus allowing checks to be carried out to make sure of your stock figures.
In addition, journals allow you to change the stock date so you can easily keep all entries in the same period if needed.
Regards
Monty
The answers given seem to relate to NAV not AX where this is posted, but the theory is still the same.
You would post entries into an open item transaction journal, or manually create them depending upon the numbers. The movement journal requires the definition of the balancing account and would be the one you would use, if you used the profit and loss it would post to the accounts defined in the posting groups. The counting journal is also a valid answer, but you still need to populate the quantities and control where the entries are recorded.
thanks for your reply
but i have small query , In AX 4.0 if i post the item transactions using movement journal then i should give the balancing account then which account should i give there or there is any other way to post this type of transactions. In NAV we use direct cost applied account for posting opening balances.
Regards,
Satya
Traditionally you would have in teh GL an opening balances account, you would use this as the balancing account and when you are entering your opening GL balances you would code inventory to the opening balances account as you already have the value. You would not put it in the direct cost applied account, as you would not if you were loading up Navisions opening stock (unless your accountant wanted it there!). Ultimately “where” you put this is up to you (so to speak [:D])