Search HansaManuals.com HansaManuals Home >> Standard ERP >> Accounting Principles >> Transaction Records Eelmine Järgmine Prindi kogu peatükk Otsi Juhend HansaWorld Enterprise'i versioonile 6.4 Transactions in Enterprise by HansaWorld - Stock In every business where stocks are kept, there are by necessity differences between recorded stocks, physical stocks and stock values, for the simple reasons that things break or disappear or that mistakes are made in shipping, recording etc. In Enterprise by HansaWorld, stock values are kept both in the Stock module and as Account balances in the Nominal Ledger. It is very difficult to have absolute agreement between FIFO stock levels and Nominal Ledger Stock Account balances, and every business must decide for itself how important it is to minimise differences. There is a price to be paid for precision. The smaller the tolerance for errors, the greater the control apparatus will be, and the greater the cost. There is a trade-off of control costs against precision that every company must decide for itself.The Stock module contains separate registers for Goods Received, Deliveries, Stock Movements (internal stock transfers between Locations) and Stock Depreciations. Whenever you enter and approve a new record in any of these registers, the physical stock levels of the Items involved and the stock valuation in the Nominal Ledger are both updated automatically. In the second case, each stock record causes a Nominal Ledger Transaction to be generated, thus updating the stock valuation in the Nominal Ledger. Stock levels and valuations can also be updated automatically from Invoices. Whenever you remove an Item from stock (e.g. using a Delivery or Stock Depreciation), the value of that Item will be calculated using a Cost Model. This value will be subtracted from the stock valuation in the Nominal Ledger. The Cost Model is also used by the Stock List report to calculate the value of your stock. You can choose the Cost Model that is most suitable for your business: the available options are Cost Price, % of Base Price (i.e. % of sales price), Weighted Average, FIFO ("First In First Out") and LIFO ("Last In First Out"). In the case of Items with Serial Numbers, you can also use a Cost Model that connects the actual value of an Item to its Serial Number. Please refer here for more details about Cost Models. In the following example, we illustrate receiving Items into stock, valuing them and delivering them. The values in the illustrations are calculated using the FIFO Cost Model: if you are using a different Cost Model, the workflow will be the same but the values may differ. Illustrated below is an example Goods Receipt, recording the arrival of three units of Item 10118 into stock at a price of 4.00 each: Depending on local accounting conventions, you can add purchase costs, VAT, freight and customs costs to the stock value in the Goods Receipt record, or leave them out until the Purchase Invoice arrives. If you add them at the time of receipt into stock, their values will be added to the Stock Account, and credited against the Freight and Customs Accrual Accounts specified in the Account Usage Stock setting: In the following example, we will sell and ship all 26 units of Item 10118. In the Delivery record that records this shipment, the total FIFO value of these 26 units is placed automatically in the Row FIFO field on flip C. (Although this field is named "Row FIFO", it actually shows the cost of sales value of the delivered Items and therefore shows the total FIFO, LIFO, Weighted Average or other value of the delivered Items, depending on the Cost Model. The example currently being described uses the FIFO Cost Model.) In the following example, we have received into stock twenty units of Item 10127 using two separate Goods Receipt records. The first Goods Receipt records the receiving of ten units at a price of 8.00 per unit, and the second records the receiving of ten at a price of 9.00 per unit:
This chapter describes the more common transactions as follows:
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