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axis diplomat 2020 Modules

12. Integrated Stock Ledger

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Automatically update the Nominal Ledger whenever a stock movement occurs.

This optional module changes the way in which stock valuations are reflected in the Nominal Ledger.

In axis diplomat systems with this module, transactions are posted to the Nominal Ledger whenever a stock movement occurs in place of making periodic adjustments (typically at period end) based on a valuation of the stock on hand.

This means that the stock valuation within the draft accounts is updated in real-time whenever the Nominal Ledger is in the current period.

With the Integrated Stock Ledger module, you are able to:

  • eliminate the need for a Period End Stock Adjustment
  • obtain more detailed cost analysis within the Nominal Ledger, including breakdown by Department and Cost Centre
  • match the Cost of Sale in the Nominal Ledger to the Cost of Sale on each Sales Invoice
 

12.1 How it Works

Stock movement transactions are posted to the Nominal Ledger, in real time once the nominal period end for the previous period has been run, so that receipts increase and issues decrease the value of the Balance Sheet Stock Ledger Control Account (Stock on Hand), whilst the double-entry for each transaction is posted to the appropriate nominal account for the type of movement. For example:

  • The cost value of receipts of goods from purchase orders will increase the liability on the Goods Received not Invoiced account: the liability is reduced when the purchase invoice is booked to that account
  • The cost value (from the receipt being issued) on a sales issue transaction will increase the Cost of Sale account specified for that stock item
  • For users of the Compact MRP module, the Work-in-Progress account will be increased by the cost value of components issued to works and when the Works Order is completed the Finished Goods account will be increased by the cost value of the finished item received from works, while the cost value of the components used will be transferred from the Work-in-Progress account to the Finished Goods account, reducing the value of both the Work-in-Progress account and the Finished Goods account
  • Stock transfer transactions are not posted to the Nominal Ledger as they do not affect the stock valuation
  • Other non-specific stock movement transactions will be posted to designated stock adjustment accounts for investigation and write-off if appropriate
 
 

 

12.2 Who can make use of the Integrated Stock Ledger?

The Integrated Stock Ledger module is not suitable if you

  • allow negative stock
  • use provisional costs on goods received
  • have the Hire Management or Stock Depreciation modules

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