Stock in Management Accounts
Article ID
ias-12179
Article Name
Stock in Management Accounts
Created Date
26th November 2015
Problem
When posting 'Stock' for Management Accounts the following message appears: Not last period, enter adjustments only to this account. This will appear when posting to groups 34, 492, 493 & 494 e.g accounts 569 & 74 on the Enhanced charts.
Resolution
Stock in Management Accounts needs to be entered as a ‘Management Adjustment’ and not within the main Posting Screen as part of the Trial Balance.
Within the Posting Screen select [Management] and choose the management period required to load the Management Adjustment Entry Parameters window.
Enter the relevant document type when prompted.
In the ‘Management Accounts Closing Adjustments’ screen
Enter the double entry postings for Closing Stock then click close.
NOTE: This is not required in the last ‘Management Accounts Period’ when stock should be posted within the main posting screen as part of the Trial Balance.
For detailed help please open Accounts Production and click Help | Tutorials. Select Management Accounts.
Alternatively for a step by step guide to Stock in Management Accounts open Accounts Production and click Help | Help | Quick Guides. From the list select Stock Management Accounts.
Enter the relevant document type when prompted.
In the ‘Management Accounts Closing Adjustments’ screen
Enter the double entry postings for Closing Stock then click close.
NOTE: This is not required in the last ‘Management Accounts Period’ when stock should be posted within the main posting screen as part of the Trial Balance.
For detailed help please open Accounts Production and click Help | Tutorials. Select Management Accounts.
Alternatively for a step by step guide to Stock in Management Accounts open Accounts Production and click Help | Help | Quick Guides. From the list select Stock Management Accounts.
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