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Re: How to configure workflow for Clearing Account / Goods Received Not Invoiced (GRNI) Account

by
dom
- 09/28/2016 02:43:11
Check this book:

Financial Accounting with Odoo: Versions 6, 7, and 8




Dominique KON-SUN-TACK  [Project Manager]
Odoo Gold Partner, best Odoo Partner 2014 for APAC

Mobile: + 65 8502 2399
Skype: dominique_elico

On 28 September 2016 at 14:05, John Pia Jr <jpiajr@southmill.com> wrote:

Jordi,

How would I go about creating an entry for a stock item that we distribute to and dinner company location to be consumed.

For example if I purchase a tire for $100, I should have:
an entry in my clearing account for $100
an entry in my inventory account for $100.

Once I receive my invoice I will have an entry in my accounts payable account for $100,
and my clearing account for $100.

When I go to use that tire on a vehicle, I need to apply that expense to the "repair and maintenance" account.
My assumption is that I would do this with a stock move, but I cannot figure out how to generate and accounting entry on an internal stock move.

Is it possible to generate an entry based on a stock move?

Thanks


On Sep 27, 2016 12:33 PM, "John Pia Jr" <jpiajr@southmill.com> wrote:

WONDERFUL.

I got it to work!

I did make a mistake when stating I needed to make and accounting entry for an internal stock move.

Thank you jordi


On Sep 27, 2016 9:24 AM, "Jordi Ballester Alomar" <jordi.ballester@eficent.com> wrote:
Hi John,

You need to install module "account_anglo_saxon".

With this module installed, if the product is stockable, when you enter the supplier invoice you should get
  • CREDIT accounts payable account for $100
  • DEBIT clearing account for $100
As for the internal stock move, where are you sending stuff from/to? If the move is within locations of the same company you'll never get such journal entries as you expect, because it's not really an expense.





On Tue, Sep 27, 2016 at 3:13 PM, John Pia Jr <jpiajr@southmill.com> wrote:
All,

I need some help with setting up my accounting workflow using a Goods Received Not Invoiced (GRNI) Account, also known as a Clearing Account, or Suspense Account

See the example below. I will be using "widget" when referring to my product

WIDGET (product) ACCOUNT CONFIG
  • ​​
    Stock Input Account
    ​:​
    ​ - ​
    ​Clearing 
    Account​nt
    ​ (GRNI)​
  • Stock Output Account
    ​:  ​
    ​​
    Inventory 
    ​​
    Account​
  • Stock Valuation Account
    ​:​
    ​  ​
    Inventory Account​
  • Expense Account: 
    Widget Expenses

THIS IS THE CURRENT SITUATION 
  • PO created & confirmed for 10 widgets​ @ $10/widget (total $100)
  • 10 widgets are received
    • Entry is made in stock journal
      • CREDIT entry is made to the clearing account (GRNI) for $100
      • DEBIT entry is made to the inventory account for $100
  • Invoice is received & validated
    • Entry is made in purchase journal
      • CREDIT entry is made to the accounts payable account for $100
      • DEBIT entry is made to the expense account account for $100
  • Internal stock move is made (for 10 widgets)
    • Entry is made in stock journal 
      • NO CREDIT ENTRY IS MADE
      • NO DEBIT ENTRY IS MADE
​​
THIS IS WHAT I AM TRYING TO ACHEIVE 
  • PO created & confirmed for 10 widgets​ @ $10/widget (total $100)
  • 10 widgets are received
    • Entry is made in stock journal
      • CREDIT entry is made to the clearing account (GRNI) for $100
      • DEBIT entry is made to the inventory account for $100
  • Invoice is received & validated
    • Entry is made in purchase journal
      • CREDIT entry is made to accounts payable account for $100
      • DEBIT entry is made to clearing account for $100
  • Internal stock move is made (for 10 widgets)
    • Entry is made in stock journal 
      • DEBIT entry is made to inventory account for $100
      • CREDIT entry is made to expense account for $100


I have also downloaded and installed: Easy Automatic Reconciliation module

However I wasn't able to get done what I need. 

Any assitance would be GREATLY appreciated.

Thanks all

-- 
John Pia Jr
South Mill Mushroom Sales Inc. | Kaolin Mushroom Farms Inc.
Office: (610) 444-4800 [x242] | Mobile: (610) 470-5163 | South Mill Online!

  
   

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