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Navigator > Tasks > Inventory Control > Transfer to GL
Transfer summary or detailed journals through to the GL. This will generate Transaction Batches for the GL to allow you to easily keep the GL up to date. You are asked for the latest period to transfer up to. Batches are created for the specified period and all prior periods where there has been transaction activity that affects the GL. You can only select periods up to the latest period available for processing. Batches created can be Summarised or Detailed as specified in the Integrate to General Ledger option in IC Settings.
The Revalue Stock on Hand option also creates a GL Batch for the Current Period for any change to Stock value which is not directly due to a transaction.
Summarised |
The batch created will Debit the stock on hand account in the balance sheet and Credit the closing stock account in the trading account with the increase in stock value since the last transfer. Separate lines in the batch are created for each Transaction Type for each Product by Branch and Department. If the stock value has decreased, the stock on hand account will be credited and the closing stock account debited. |
Detailed |
The batch created will have separate entries for each transaction entered in IC, that is, for each transaction it Debits and Credits the relevant stock on hand and closing stock accounts. The GL Accounts are specified for each Stock Group despite Summarised or Detailed being selected. The transfer also checks if a GL Account has changed since last transfer and if so, journals ClosingStock and StockOnHand between the appropriate accounts. This batch is created in the Current Period (even if transfer is not up to Current Period) - this is considered the most likely assumption as to when the GL Accounts changed. You can do this many times, it will always transfer up to at least the period specified the previous time. |