Hi All,
We are about to go for Go Live and need help in understanding the steps for uploading stock value & Product Costing:
1. In our scenario, all materials (Raw Material, Operating Supplies, Tools, SFG & FG) are maintained with Standard Price as the price.
2. We have Material Ledger activated in our scenario.
3. How the stock prices will be uploaded.
Our Strategy
1. We will create Material Master (above stated Material Types).
2. Update the Tax price 3 in Accounting Tab 2 for Raw Materials for the price since we have a policy to update Tax price 3 and then run standard cost for standard price update.
3. Quantity will be uploaded in the system.
4. We will run the Costing run for Raw Material to update the Standard Price and hit the Inventory value.
5. All the BOMs and Routing will be updated for SFG and FG.
6. We will run the Costing Run for SFG and FG in order to update their Standard Price and get the Stock value.
7. Accounting Entry:
Dr. Inventory XXXXXXXX A/c
Cr. Initial Stock Upload A/c
Questions
1. Please advise if it is correct process and what additions or deletions are required in the above steps.
2. Whats the impact on Material Ledger.
3. Will there be any variation or manual accounting adjustment action is required.
4. Accounting entries
Regards 