Standard cost variance is not relevant with FIFO you can leave teh fields blank. You do not require PPV GL if you have a FIFO inventory model. However in the Item Model Group you do have the Fixed Receipt Price concept whereby the receipts are adjusted to a “standard” cost price, but these post to the fixed price accounts. The stock variation account (not variance if you mean this one) I beleive is used in France and Belgium. Can you post the exact message in a screen shot?
Hello Adam, i found the following pertaining to 'Stock variation" - you are correct on the countries that applies
“I typically use those accounts for companies that follow the nature of expense accounting method. Different from the standard accounting procedure to post purchases of items on balance sheet accounts (inventory accounts), some companies - especially in Europe - directly post any purchase to expense accounts (debit: expense account (P&L), credit: accounts payable). At the end of the months, these companies do a stocktaking and post a manual adjustment journal (a) if stock levels increase: debit inventory account, credit income account (P&L) or (b) if stock levels decrease: debit expense account (P&L), credit inventory account. Rather than doing those postings manually at the end of the month, some companies want dynamics ax to do those postings automatically ‘in the background’. That’s one option for what I use those accounts for.”
Also regarding prepayment, the I meant to say 'is it advance to vendor? if you could give me an example with Cr / Dr that would help
Hello Adam, i found the following pertaining to 'Stock variation" - you are correct on the countries that applies
“I typically use those accounts for companies that follow the nature of expense accounting method. Different from the standard accounting procedure to post purchases of items on balance sheet accounts (inventory accounts), some companies - especially in Europe - directly post any purchase to expense accounts (debit: expense account (P&L), credit: accounts payable). At the end of the months, these companies do a stocktaking and post a manual adjustment journal (a) if stock levels increase: debit inventory account, credit income account (P&L) or (b) if stock levels decrease: debit expense account (P&L), credit inventory account. Rather than doing those postings manually at the end of the month, some companies want dynamics ax to do those postings automatically ‘in the background’. That’s one option for what I use those accounts for.”
Also regarding prepayment, the I meant to say 'is it advance to vendor? if you could give me an example with Cr / Dr that would help
Yes you would post tax on receipt - not many countries would use this I would guess, UK would not so never used it.
FA relates to the purchase of a fixed asset.
Prepayment is where you have paid for the product in advance.
I guess you are using the demo company with everything turned on - many areas are localizations and only relevant to certain countries and in other places certain configurations.
So, If Select the FIFO in the inventory model and select the option - fixed receipt price, the price variance say purchase or inventory will be posted to the fixed price accounts. Is it? Here, what does the “standard cost” - is it a cost or purchase price as defined in standard costing version ?
I cannot remember to be honest, think it could be the item cost or purchase price on the item card as this existed before hte costing version, but I am not sure now. Put a different cost in each and see which one it takes!
I am getting the same error pertaining to Stock variance while posting the Purchase order in AX 2009 if there is not Ledger account is specified. As of now, this Stock variance option has been selected with one Ledger account. But I do not want to effect this Ledger account after posting the PO. I had checked in License information whether can we turn off the all the counties as you suggested, but not getting the option. Please let me know how to turn of the countries except KSA as the customer is located in KSA.
