Switching Cost Accounting Off
If you do not wish to operate cost accounting, perhaps because the extra work required in ensuring the Nominal Ledger stock valuation agrees with the stock list valuation will not be of benefit, follow these steps:
- In the Sub Systems setting in the Nominal Ledger, ensure that Nominal Ledger Transactions will not be created by Deliveries or Goods Receipts by switching off these options. Do not switch off the Invoices option because doing so will prevent posting to the Sales, VAT and Debtor Accounts as well.
- In the Cost Model setting in the Sales Ledger, ensure that the Cost Model, Delivery and Cost Model, Invoice options are both set to None.
- On the 'Cost' card of each Item Group, ensure that the selected Cost Model is either Default or None. The Default Cost Model has already been set to None in step 2.
- If you will be creating Deliveries from Orders, stock quantities for any Items used will be updated automatically when Deliveries are approved. If you would also like stock quantities to be updated when Invoices that are not related to Orders are approved, ensure the Invoice Update Stock option on card 1 of the Account Usage S/L setting has been switched on.
Stock quantities will also be updated when Goods Receipts are approved.
