GL Account - Inventory Adjustments

Owned by Janice Dannenberg (Unlicensed)
Last updated: Oct 18, 2024 by Tom Williams

The GL Account that is used by the following transactions, for non-purchase order line items, when the 'Distributed To' is set to Item, Landed/Production, Layer-Lot or Layer-Transaction:

  • AP Invoices (and positive qty PO's): The line item's Debit account for items where the 'Distributed To' is set to Item, Landed/Production, Layer-Lot or Layer-Transaction. 
  • AP Credit Memos (and negative qty PO's): The line item's Credit account for items where the 'Distributed To' is set to Item, Landed/Production, Layer-Lot or Layer-Transaction. 
  • Inventory Receipts: The Credit account used for non-purchase order line items where the Costing Method is Active or Passive.
  • Cost Distributions: The Credit account.

The GL Account that is used by the following Costing journal entries: This only applies to the 'Actual' cost of Items with a Costing Method of "Active".

  • Manual Cost Changes and COGS changes: The Credit account used for item balance increases and the Debit account used for item balance decreases.