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How do I change the offsetting GL account when I post inventory counts?

Summary

The default account comes from the GL Determinations on the item group. So, you could change it there and then an adjustment to inventory will never hit that account, it will hit whatever you select as the GL Determination for Inventory Offset - Increase / Decrease.

How - To
To change GL Determinations for an item group, you go to:
Admin > Setup > Inventory > Item Group
Go to Accounting Tab
- will see a list of determinations and the GL Accounts they are set to
- You can change the cogs account for Inventory Offset - Increase & Decrease here

WARNING: changing these means that every transaction of any item in that group will now hit the new account, so be sure you know which account you should choose. It is best that if we have it set to a COGS, you select a COGS. Just using a different account in the same section is not a big deal, but if you were to change it to a revenue account or inventory account, it could cause major accounting problems.

Or, when on the Inventory Posting Screen, you can change the GL Account that will get hit. It is displayed as column on the far right of the posting screen. So if you want to change it on the fly (ie normally you want to hit COGS-Variance", but on inventory counts you hit something else), you can change it right on the inventory posting list. Of course, to change it for all items in that list, you'd have to copy/paste down the whole list, which might be tedious.

 

Version 4.5.1.0

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