Enter Inventory Adjustment G/L (IM44)

The Enter Inventory Adjustment GL (IM44) program is used to maintain a GL relating table for inventory adjustments that stores the GL Control accounts affected as a result of posting inventory adjustments through Enter Inventory Adjustments (IC50) and Transfer Physical to Book (PI19). For each combination of Warehouse/Product GL Code/Inventory Adjustment Code, an applicable Inventory Control account and the offsetting Adjustment account (if applicable) are identified. For example:

Whse Code		GL Code		Adj. Code		Offset GL Account		Inventory GL Account
01		00		C		01-5100		01-1100

If a cost adjustment (code 'C') is made to reduce a Product's average cost (in Warehouse 01, for a Product with a GL Code of '00'), then the resulting GL posting generated is:

Debit		01-5100		Cost of Goods Sold Adjustment Account
Credit		01-1100		Inventory Account

If there is NO entry in the Adjustment GL relating table for a Warehouse/Product GL Code/Inventory Adjustment Code combination, then the program will generate the posting to 'dummy' GL accounts. For more information on GL postings to fictitious GL accounts, see Decoding 'XYZ' GL Accounts.

If there is an entry in the GL relating table for a Warehouse/Product GL Code/Inventory Adjustment Code combination BUT the GL control accounts are not specified, then this means that no interfacing records will be generated to the General Ledger. It is not mandatory that all adjustment codes generate GL postings.

The following list defines every field on IM44:

TIP: The system uses the Warehouse (Branch Code)/Product GL Code/Inventory Adjustment Code as the key to determine the GL control accounts that are affected as a by-product of posting inventory adjustments. For each combination of Warehouse/Product GL Code/Inventory Adjustment Code entered in the Adjustment GL relating table, an Inventory control account is set up in the 'GL Inventory Account' field and an offsetting account is set up in the 'GL Adjustment Account' field.

• Branch Code - enter or select from the query a Sales Office/Warehouse code. The Warehouse code is part of the key used by the system to determine the GL control accounts that are affected as a by-product of posting inventory adjustments.

• Product GL Code - enter or select from the query the GL Code you want to work with. The Product GL code is part of the key used by the system to determine the GL control accounts that are affected as a by-product of posting inventory adjustments. GL Codes are defined in Maintain Inventory Tables (IM09/GL Codes) and are assigned to each Product in Maintain Inventory Masters (IM13).

• Inventory Adjustment Code - enter or select from the query the Inventory Adjustment code you want to work with. The Inventory Adjustment Code is part of the key used by the system to determine the GL control accounts that are affected as a by-product of posting inventory adjustments. Inventory Adjustment Codes are defined in IM09/Inventory Adjustment Codes.

• GL Adjustment Account - when adjustments affecting inventory quantity or cost are posted through Enter Inventory Adjustments (IC50) (using the GL accounts from IM44), the value of that transaction may be posted to the General Ledger. For the value that is posted to the Inventory Control account, the offsetting side of the entry is posted to the GL account that is entered in this field.
  • This field is unavailable (grayed out) if the Inventory Adjustment Code is set to 'T' (stock transfer).

  • This field mandatory if you enter a GL Inventory Account and the Inventory Adjustment Code is anything other than a 'T'.

    Note: If no interfacing records are to be posted to the General Ledger for this Warehouse/Product GL Code/Inventory Adjustment Code combination, then leave this field blank.

• GL Inventory Account - when adjustments affecting inventory quantity or cost are posted by IC50, the value of that transaction may be posted to the General Ledger. Enter the GL account code for the Inventory Control account in this field. The offsetting side of the entry is posted to the GL account entered in the 'GL Adjustment Account' field.
  Note: If no interfacing records are to be posted to the General Ledger for this Warehouse/Product GL Code/Inventory Adjustment Code combination, then leave this field blank.

The following table outlines the functionality of each button on IM44:

Button Label	Icon	Functionality
Next Header Record		Displays the first record for the next Branch Code (Warehouse). If, for example, you want to by-pass all records for Warehouse 01 and go directly to Warehouse 02, click this button.
Display Details		Opens the Inventory Adjustment G/L Details screen which displays all of the G/L Code/Inventory Adjustment Code combinations set up via IM09. Double clicking on a line in the list box automatically populates the Product GL Code and Inventory Adjustment Code fields in IM44.
Submit		Saves the information entered for the current warehouse/GL code/Adjustment code combination.
Delete		Deletes the current Inventory Adjustment Code for the current warehouse/GL code combination. If you delete a subsequent time, the following message displays: "Delete ## (Warehouse number) and ALL its detail records. Yes/No". Select Yes to delete all records for the current Warehouse. Select No to cancel the request.
Clear		All fields on IM44 clear allowing you to enter a new Inventory Adjustment GL.
View/Print		Opens the Inventory Adjustment G/L Table screen which displays all records in the Adjustment GL relating table. From this window, you can click on the Print button to print the table.

^{Enter Inventory Adjustment GL (IM44)}