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Inventory Accounting

Overview

 

Kingdee K/3 Inventory Accounting is intended for finance managers of manufacturing enterprises and business agents. The module provides functions like receipt accounting, delivery accounting, automatic voucher generation based on documents and voucher templates, provision for inventory depreciation reserve, locking Account, reconciliation with the general ledger, and End of Period (EoP) close. In addition, it supports the new accounting rules in 2007, and features an extensive management of inventory pricing and delivery/receipt accounting, to help enterprises work out inventory delivery/receipt costs rapidly. As an important module to ensure synchronization between logistics and capital flows, it can work with Purchase Management, Sales Management, and Inventory Management, to provide a more complete solution to the enterprise supply chain.

Business Workflow

 

 

Functions

 

1.Receipt accounting

This function is to calculate the actual costs of inventory receipt in various forms, including purchase, subcontract, production, and miscellaneous receipts. Moreover, it provides different accounting workflows for different kinds of receipt transactions to satisfy users. For example, purchase receipt costs are calculated based on cross-checked Purchase Invoices and Expense Invoices. Subcontract receipt costs consist of material costs (Subcontract Delivery) and processing expenses (Subcontract Purchase Invoice).

 

2.Delivery accounting

Delivery accounting is classified into material delivery accounting and product delivery accounting, aiming to calculate the inventory delivery cost. It supports accounting by overall warehouse, by warehouse, or by warehouse group, and provides functions such as the accounting guide, calculation report, and error report. In addition, it offers multiple accounting schemes to special delivery transactions such as delivery for negative inventory, delivery (red ink), and delivery for stock transfer.

 

3.Inventory depreciation reserve

As the accounting system develops, management of inventory depreciation reserve becomes an indispensable part of accounting. Inventory depreciation reservation helps you perform the provision and management of inventory depreciation reserve in a detailed and accurate manner.

4.Voucher management

The module supports automatic generation of vouchers according to voucher templates. In addition, you can generate different vouchers (for example, quantity/amount voucher and foreign currency voucher) based on the account properties selected in voucher templates. Another feature is accounting items in the document (including customized fields of the accounting item type) can be transferred to the voucher either. You can query or modify vouchers or related documents in voucher list.

 

5.EoP locking

Users are not allowed to input or modify accounting documents of current period before EOP closing.

6.EoP closing

This function allows you to check balance of SCM and query relevant documents lists and reports.