The Post Inventory Cost to G/L batch job updates the General Ledger and prints a report.
When item journal lines are posted, the inventory application area is updated. When purchase and sales lines are posted, tables in the Inventory application area and the purchase and sales accounts in the Chart of Accounts are updated. The inventory account in the chart of accounts is, however, never updated directly when posting a purchase, sale, positive adjustment or negative adjustment from a purchase, sales, or item journal line. Nor is COGS calculated in connection with a sale, unless you have selected Automatic Cost Posting.
Inventory value and COGS in the General Ledger are updated with the Post Inventory Cost to G/L batch job. The batch job can be run whenever you want to update the General Ledger. The batch job posts the difference between the Cost Amount (Actual) field and the Cost Posted to G/L field in the value entries. If you have selected the Expected Cost Posting to G/L option in the inventory setup, then the batch job also posts the difference between the Cost Amount (Expected) and the Exp. Cost Posted to G/L fields.
Before you use this batch job, you should run the Adjust Cost - Item Entries batch job. Then when you run this batch job, the costs that will be posted to the General Ledger will be up to date.
You can specify what is included in the report by setting filters. If you do not set any filters, the report will include all your records.
On the Item Ledger Entry tab, fill in the standard field filters, or you can select additional filters. To do this, press F3, click the AssistButton and then select the relevant filter(s).
To print the report, click Print. To see the report on the screen before printing it, click Preview.
To set filters in the report, fill in the fields as follows:
Posting Date: In the Filter field, you can enter the first date in the period from which item entries will be included in the batch job. If you do not enter a date, all item entries will be included.
Click the up-arrow in the lower left-hand corner of the window to see the results of the filter you have defined for the table.
Posting Method: The batch job can either post inventory value to the General Ledger per posting group or per posted entry. If you post per entry, you achieve a detailed specification of how the inventory affects the General Ledger, but you also get numerous G/L entries.
Posting Date/Closed Period Entry Posting Date: If you are posting per posting group, the date you enter in this field is the posting date that will appear on the G/L entries. If you are posting per entry, the program will use the posting date of the value entry as the posting date on the G/L entries, except in the case where the value entry's posting date falls within a closed accounting period. In this case, the program uses the posting date that you enter in this field.
Document No.: In this field, you can enter a document number if you have chosen the Post per Inventory Posting Group option. The document number will appear on posted entries.
Post: Place a check mark in this field if you want the program to post to the general ledger automatically. If you do not choose to post the inventory cost to G/L, the batch job will only print a test report, and on the report will appear: Test Report (not Posted).