Revaluation Journal - Which G/L Accounts are Hit?

matttrax

I'm assuming that it decides based on what's in inventory posting setup. Could someone tell me which fields it uses to determine the debit and the credit G/L Accounts?

Thanks.

AdamRoue

Inventory Account
Inventory Adjustment Account

Credits/Debits depend upon the revaluation and whether you increase or decrease your inventory.

I suggest you create a new item, purchase it and then revalue it and navigate to see the entries, only takes 2 minutes to test, you can then play around with the posting groups to verify this - which you will do anyway surely?

Alex_Chow

It's based on the setup on the Gen. Prod. Posting Group for the income statement side.
It's based on the Inventory Posting Setup for the balance sheet side.

AdamRoue

Sorry, yes perhaps should have elaborated on that Asset account based upon location and adjustment on the General Product Posting Group matched where the General Business Posting Group is blank.