This program prints an audit trail report and completes the posting to the General Ledger, of any average cost adjustments for Rental or Sale products, entered via the following adjustment menu options:
The Product Average Cost Changes Report lists Product #'s and Descriptions, Cost Change, and Quantity Change, by the G/L Inventory Account.
Security Roles and a password can be
set on this program in Module Passwords.
The module name is RSCA20C.
For more information on this security feature refer to System Security Overview.
The prompts are:
Uncheck this box to assign an Inventory division now.
The Inventory Account debited for the change in the inventory value, will be the G/L Inventory account assigned in the Product Class for each product.
Uncheck this box to assign an Expense division now.
The G/L Expense Account used will be selected later.
Select Detail to post full Debit and Credit details to the G/L for each product.
Click the ACCEPT button to begin printing the report, or CANCEL to abort.
If the report did not correct or did not print successfully,
click NO to abort the update process.
The report can be regenerated and reprinted.
If the data is correct and the report printed successfully,
click YES to accept it and to continue the post cost adjustments
process.
The option to post to the G/L or to post manually will be provided
next.
Click NO to prevent posting directly to the G/L.
These adjustments to the G/L should then be done as a journal entry
to ensure the Inventory sub-ledger matches the General Ledger.
These transactions will not print again.
Click the YES button to initiate the posting to the G/L per the reported records. A second summary will print with the posting data.
If the report did not print successfully, or if errors are found, click NO to abort the posting to the G/L. The whole report can be regenerated and reprinted.
If the summary printed successfully and the data is correct, click YES to accept the report and to post these records to the General Ledger
Note: The CCQ or Cost Calculation Quantity is used when
calculating the average cost of the product.
When inventory is received, the software notes the previous
quantity on hand (Cost Calc. Qty) at the old cost. When the
additional quantities are added, the software determines how many
were received at the new cost, and calculates a new average
cost.
Refer to Cost Calculation Quantity for
details on how the costs are weighted to provide an accurate
average for each sales product.
Posting Control
The Post Product Average Cost Adjustments program is
designed to be run by one operator at a time.
Locking will occur if an operator did not exit the posting program
correctly.
A Posting Control Information warning
will appear on the screen and only operators with Security Role permission to reset the Average
Cost Adjustments flag will have access to the
RESET button that unlocks the program.
Whenever the posting control flag for Average Cost Adjustments is
reset, a record is written to the Delete
Log for the Function RSCA20L.
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