on 10-05-2007 10:03 AM
Hi all,
Could somebody tell me how the process works with the WIP-account, the gl-accounts etc...
Thanks...
Hi Chief,
WIP-accounts will be used if you work with production order. All others G/L accounts have specific functions inside the SAP B1. It works either using journal entry or marketing document or banking depends on your setting in the administration --> setup --> financial --> G/L account determination. Another setting is in the inventory --> define warehouse, define item group.
As we know that inventory will have its G/L account that will be used to record transaction related with inventory. Account payables, tax account, bank accounts and account receivables, expense accounts etc.
The system automatically creates transaction to general ledger (GL) when you push add button or update. The terms creating transaction means posting.
More detail, you could read accounting principles book and SAP B1 financial training. The resource documentation center from SAP B1 will be a helpful link to download the training or SAP B1 knowledge
Rgds,
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IN THE TERM OF PRODUCATION WE CAN USE PROGRESS ACCOUNT
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Hi,
The WIP account comes in picture in Production Module as you issue raw materials for production order. The cost of the raw material is debited to WIP account and credited from Inventory account. As and when you create Receipt from Production the WIP account is cleared and Inventory account of finished product is debited. If some variance occurs in cost as per BOM and actual cost then this variance is booked to WIP Inventory Variance Account.
Hope this info is useful to you...
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