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[Debbie Danner Greene]

Could someone explain why the Unit Price field for items is not located/available to enter on the item journal line as a field?  I know the unit cost is available which is associated with the Purchase Order and G/L.  I know the sales price is associated with sales orders and sales invoices.  We have a user that wants to enter the unit price in the item journal instead of the unit cost.  I want to give a logical explanation as to why this is not necessary.

Thanks,
Debbie

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Debbie Danner Greene
Senior Analyst
Samaritan’s Purse
Boone NC
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[Tim Sondag]

I’m unsure why one would want to include the sales price, rather than the actual item cost.  I guess technically you can assign whatever price you would like to the item journal when you post the adjustment.

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Tim Sondag
Director of Purchasing
Group O
Rock Island IL
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[John Bellinger]

The item journal does have the field unit amount, I know when I post an entry type of sale with a value in unit amount;

 

The resulting item ledger entry looks like this;

 

Item Analysis View Entry of Analysis Areas Sales and Inventory do capture Sales Amounts for this type of entry, $20 in this case.

 

However, the sales amount does not impact the general ledger, the cost side does hit cost of sales / inventory. 

 

I’ve not personally posted item journals of entry type sale with a unit amount <> 0.  I guess it gives you flexibility to post sale of an item that may have been missed on a shipment, for whatever reason, without having to write off item quantities (negative adjustment or physical count)?

John Bellinger | Business Systems & Applications Manager | Activar, Inc.
9700 Newton Ave. S. | Bloomington, MN 55431
Office: 952-392-3912 | Cell: 612-719-0289 | Fax: 952-837-1221
jbellinger@activar.com | http://www.activar.com

 

——Original Message——

I’m unsure why one would want to include the sales price, rather than the actual item cost.  I guess technically you can assign whatever price you would like to the item journal when you post the adjustment.

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Tim Sondag
Director of Purchasing
Group O
Rock Island IL
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[Andrew Good]

Here is an explanation…

The Item Journal’s purpose is to make miscellaneous? inventory adjustments that are not linked to Customers nor Vendors. The resulting posted transaction only affects the inventory cost since there is no sale involved.

Cheers,

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Andrew Good
President
Liberty Grove Software
Oakbrook Terrace IL
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