Scribblings of a Microsoft Dynamics GP MVP
Microsoft Dynamics GP Manufacturing – Accounting Transactions
In my previous post on Dynamics GP Manufacturing Accounts, I have explained about listing of standard accounts required to setup dynamics GP manufacturing. Extending the same topic here is the details about standard accounting entries generated from Dynamics GP Manufacturing Series.
Background:
The setup option considered for the accounting transactions example consists the followings.
- Machine & Labor Marked Auto Back flush
- Inventory Items Using Average Perpetual
Summary:
There are three Main Transactions from manufacturing
There are three Main Transactions from manufacturing
1. Component Transaction Entry ( Issuance Of Material )
2. MO Receipts ( WIP )
3. MO Receipts ( FG )
And One Additional Transaction
4. MO Closing ( In Case Of Variance )
Details:
Here is the details about the above transaction types with respect to a standard process of MO
Here is the details about the above transaction types with respect to a standard process of MO
Step 1: Bill Of Material Setup
- No Accounting Transaction
Step 2: Manufacturing Order Creation
- No accounting transaction
Step 3: Component Transaction Entry ( Issuance Of Material )
a) Issuance Entry
|
Account
|
Debit
|
Credit
|
|
Inventory
|
–
|
|
|
Work In Process – WIP
|
–
|
b) Reverse Issuance
|
Account
|
Debit
|
Credit
|
|
Inventory
|
–
|
|
|
Work In Process – WIP
|
–
|
Step 3: MO Receipt
a) WIP For Machine & Labor
|
Account
|
Debit
|
Credit
|
|
WIP-Labor
|
–
|
|
|
WIP-Labor-FOH
|
–
|
|
|
WIP-Labor-VOH
|
–
|
|
|
Applied-Labor
|
–
|
|
|
Applied-Labor-FOH
|
–
|
|
|
Applied-Labor-VOH
|
–
|
|
|
WIP-Machine
|
–
|
|
|
WIP-Machine-FOH
|
–
|
|
|
WIP-Machine-VOH
|
–
|
|
|
Applied-Machine
|
–
|
|
|
Applied-Machine – FOH
|
–
|
|
|
Applied-Machine – VOH
|
–
|
b) FG Entry
|
Account
|
Debit
|
Credit
|
|
WIP-Labor
|
–
|
|
|
WIP-Labor-FOH
|
–
|
|
|
WIP-Labor-VOH
|
–
|
|
|
WIP-Machine
|
–
|
|
|
WIP-Machine-FOH
|
–
|
|
|
WIP-Machine-VOH
|
–
|
|
|
WIP– Material
|
–
|
|
|
Inventory – Finished Good
|
–
|
|
Step 4: MO Close ( In Case Of Variance)
|
Account
|
Debit
|
Credit
|
|
WIP-Material
|
–
|
|
|
Variance– Material
|
—
|
In my coming posts, I will highlight the accounting transactions with other setup options as well.
Related Reference Links:
Read more:
Microsoft Dynamics GP Manufacturing – Accounting Transactions