Question: What’s an example of how to use general ledger resolution?
Answer: Here’s an example:
The general ledger account structure is xx-yyy-zzzzzz, where xx is the company code, yyy is the branch, and zzzzzz is the account. To set up the inventory account resolution, the company code and branch come from the shipping location and the account comes from the product.
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Program |
Inventory Account Resolution |
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For location ABC, which is branch 123, and for company DEF, which is company code 01, the account resolves to: 01-123-****** |
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For product XYZ, which is assigned account 001250, the account resolves to: **-***-001250 |
This constructs a full general ledger account for inventory when used for purchase orders.
Question: If I want to record sales at list price separate from sales discount in the general ledger, how do I set this up?
Answer: The followings steps are required:
In Customer Service Control Maintenance, select the Default Regular Price on the Cost/Pricing tab. Select from one of the four list price fields stored in Product Maintenance and Product Location Maintenance. Each product must have a list price in the field selected.
Set up the sales discount general ledger account resolution. If no general ledger account resolution exists for the sales discount, then the net sales amount is posted to the sales account.
During invoice posting, if the sales discount general ledger resolution is not specified, then the net sales amount is posted to the sales account. Otherwise, the difference between the list price and the net sales amount is posted to the sales discount account, and the list price is posted to the sales account.
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Example The sales quantity is 2, the list price is $30, and the net price is $20. The account resolution is as follows:
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Question: If I want to record Sales Returns at List Price separate from Sales Returns Discount on the General Ledger, how do I set this up?
Answer: The followings steps are required:
In Customer Service Control Maintenance, select the Default Regular Price on the Cost/Pricing tab. Select from one of the four list price fields stored in Product Maintenance and Product Location Maintenance. Each product must have a list price in the field selected.
Set up the sales returns discount general ledger account resolution. If no general ledger account resolution exists for the sales returns discount, then the net sales amount is posted to the sales returns account.
During invoice posting, if the sales returns discount general ledger resolution is not specified, then the net sales amount is posted to the sales returns account. Otherwise, the difference between the list price and the net sales return amount is posted to the sales returns discount account, and the list price is posted to the sales returns account.
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Example The sales return quantity is 2, the list price is $30, and the net price is $20. The account resolution is as follows:
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