General Ledger (GL) Effects of Flow Schedule Receipts
GL transactions are stored in the unposted transaction table until they are posted. Review unposted transactions with Unposted Transaction Inquiry (25.13.13). Review and delete transactions created in modules other than GL with GL Transaction Delete/Archive (36.23.2). GL transactions are recorded as the following types:
• WO or Work Order
• IC or Inventory
Inventory receipts, apply this-level overhead amount:
• Debit the WIP account from the work order.
• Credit the Overhead Applied account for the product line of the item.
Inventory receipts, receive the finished item:
• Debit the Inventory account defined in Inventory Account Maintenance (1.2.13) for the product line, receiving site, and receiving location.
• Credit the WIP account from the work order.
Rejects (scrap):
• Debit the Scrap account defined in Inventory Account Maintenance for the product line and receiving site.
• Credit the WIP account from the work order.
Component issues:
• Debit the WIP account from the work order.
• Credit the Inventory account defined in Inventory Account Maintenance for the product line, issue site, and issue location.
When inventory transactions affect more than one site, costs may differ between the two sites. Cost variances are posted to the Transfer Variance account defined in Site Maintenance (1.1.13). The system automatically generates the appropriate balancing transactions in the GL for each site.
• When the transfer-from and transfer-to sites are in different entities, a balancing entry is posted to the appropriate Intercompany Inventory Control debit and credit account defined in Entity Code Maintenance (25.3.1).
• When the two sites are in the same entity, a balancing debit or credit is posted to the Transfer Clearing account defined in Inventory Control (3.24).
Note: For component issues, rather than post differences in cost between two sites to the Transfer Clearing account, differences are posted to the work order, crediting Material Rate Variance.