Integrate to General Ledger

Determines how to integrate IC to the GL.

• Summarised - will integrate to the GL by producing batches which transfer Transaction Type totals only for each Product by Branch and Department codes (in Accredo Saturn) specified for Stock Groups.
• Detailed - will integrate to the GL by producing batches that transfer on a transaction by transaction basis to the GL codes specified.
• Not integrated - if you do not want to integrate to the GL.

We recommend Summarised rather than Detailed. It is simpler to retain the history in IC and summarise information in the GL. Integration between IC and GL is handled by the creation of Transaction Batches on demand. Batches will be placed in the list of unposted GL Batches. To perform the integration procedure you must post those batches.

If you change from Not integrated to Summarised or Detailed, you will be prompted for a Period to start the integration from. If transactions before the period that have not been transferred to GL exist, they will be marked as Transferred to GL without creating a GL batch. This process can take some time.

Integration Basis

Select the basis for integrating to the General Ledger:

• Perpetual - Stock Purchases go into Stock on Hand, and when stock is sold, the cost value of the stock is journaled between Stock On Hand and Cost of Sales to give an accurate Cost of Sales for direct comparison with Sales. Non-diminishing cost of sales is journaled between Expense Recovery and Cost of Sales.
  This is the default setting for new companies.
• Periodic - The Cost of Sales in the financial reports is calculated as Opening Stock plus Stock Purchases less Closing stock. Cost of Sales journals are processed for non-diminishing products between the Purchase Expense and the Closing Stock Accounts for the stock group. At End of Period the Closing Stock becomes the Opening Stock for the next period.
  This is a simple model, but Cost of Sales may vary from the actual value of goods sold in the period if stock is not purchased and on-sold promptly.

See Perpetual and Periodic Inventory Control Integration for more information.

If you change from Periodic to Perpetual, you will be prompted to select the First Period on Perpetual Integration.

Note: GL Accounts in Settings are the defaults for new IC Stock Groups. The accounts specified on Stock Groups are the ones used when transferring to GL.

GL Stock on Hand Account

The GL account used for the Balance Sheet side of all IC Diminishing Stock Transactions and Revaluations regardless of Integration Basis.

For Perpetual Basis

GL Cost of Sales Account

The account used for Issues (Sales), Credits, Kitset Usages and Job Usages. For example, Chart of Accounts 2100.000 Cost of Sales.

GL Stock Purchases Account

The account used for Receipts, and for AP Shipment Invoice lines relating to diminishing Products. For example, Chart of Accounts 9950.000 Purchases Clearing Account.

GL Stock Adjustments Account

The account used for Adjustments due to posted stocktake variances and other adjustment transactions. For example, Chart of Accounts 2200.000 Inventory Adjustment Account.

GL Stock Write Offs Account

The account used for Adjustments due to write-offs from IN Credits. For example, Chart of Accounts 2200.000 Inventory Adjustment Account.

GL Stock Revaluation Account

The account used for Revaluations. For example, Chart of Accounts 2300.000 Inventory Revaluation Account.

GL Stock Manufactures Account

The account used for Manufactures and Manufacture Usages. A single account is used rather than per Stock Group to ensure these clear.

GL Stock Transfers Account

The account used for Transfers. A single account is used rather than per Stock Group to ensure these clear.(Saturn only)

GL Expense Recovery Account

The account used in place of Stock On Hand account for Non-Diminishing Manufacture Usages, e.g. Labour Cost for a Manufacture, and for Non Diminishing Issues, Credits, Kitset Usages and Job Usages. There is no default account number for this. An example would be Labour Recovery as used in the Accredo Demo Data.

For Periodic Basis

GL Closing Stock Account

The default account for Closing Stock in the trading account section of the GL. When you transfer to the GL, increases in the stock value will credit this account, and decreases in stock value will debit this account.

GL Transfer Out Account

The default account used to create journal transactions, transferring the cost of products between Branches and Departments. When you transfer IC Transfer transactions to the GL, the account for the Branch and Department associated with the location is debited with the value of the stock dispatched. (Accredo Saturn Only)

GL Transfer In Account

The default account used to create journal transactions, transferring the cost of products between Branches and Departments. When you transfer IC Transfer transactions to the GL, the account for the Branch and Department associated with the location is credited with the value of the stock received.

For example, if you purchase items from a central warehouse then distribute them to a number of retail outlets, you can transfer the cost of the purchases to the retail outlet. Journal transactions are only created where the Transfer In an Transfer Out accounts are specified for the Stock Group. (Accredo Saturn Only)