Manual Inventory Transactions

Simple receipts

During a simple receipt, the following transactions are recorded:

- the Inventory account [A3] (defined at the level of the Item Category page) is debited for the standard value of the receipt,

- the Goods Receipts Account [A5] is credited for the same account (if the Purchasing Account is an account which belongs to a cost center, a transaction is generated for the cost center).

Simple issues

During a simple issue, the following transactions are recorded:

- the Inventory account [A3] (defined at the level of the Item Category page) is credited for the standard value of the receipt,

- the Goods Receipts Account [A5] is debited for the same account (if the Purchasing Account is an account which belongs to a cost center, a transaction is generated for the cost center).

Location Transfer transactions and status transfer transactions

No transactions are generated by the Accounting System in the above situations.

Physical Inventory Counting

During a Physical Inventory Counting procedure, the system automatically generates the following transactions :

- the Inventory account [A3] (defined at the level of the Item Category page) is credited or debited (depending on the value of the Physical Inventory adjustment) for the standard value of the inventory slack,

- the Inventory Adjustments Account [A7] is debited or credited (depending on the value of the Physical Inventory adjustment) for the same value (if the Inventory Adjustments Account is an account which belongs to a cost center, a transaction is generated for the cost center).