Manufacturing accounting entries

[mrodriguez]

Hi Everyone,

May I ask for complete guidance on Mfg? I am trying to understand all the features. I have few questions in Mfg set up:

1. If I do stock entry and transfer Raw Materials from Raw Mat - Warehouse to Work-In-Progress Warehouse, I should be also able to see the movement in my Balance Sheet too. How can I reflect that the Raw Mats transferred in WIP should now be recorded as deduction to Raw Materials Invty acct and now addition to Work-In-Progress account?
   In terms of Stock Ledger, I can see the movement there but as for the Balance Sheet, transactions are not recorded.

2. After finishing the Work Order Entry, my Manufactured Items are now transferred from WIP to Finished Goods. However, this should be reflected in the Inventory account as well. But no entry has been recorded.

Where Can I set it up to reflect the movement of the inventory in the FS?

[kennethsequeira]

@mrodriguez

I can see the movement there but as for the Balance Sheet, transactions are not recorded.

Balance sheet will get affected after consumption of the raw materials generally via a backflush process. This would be when you’re making a:

• material consumption
• manufacture entry
• material issue

A transfer is only indicating change of location.

@mrodriguez

After finishing the Work Order Entry, my Manufactured Items are now transferred from WIP to Finished Goods. However, this should be reflected in the Inventory account as well. But no entry has been recorded.

Open the manufacturing entry and check the Accounting ledger by going to View > Accounting Ledger on the stock entry:

[Saumyaseelan_Pv]

You can assign different stock accounts to different warehouse. Then you will be able to see the balance of different stock accounts in balance sheet.

[mrodriguez]

thanks! great help