Set G/L Accounts By "Item"

Hi All
What is the effect of the following setting in the item master data inventory tab, "Set G/L Accounts By = Item Level"?
Thanks
SV REddy

Hello Reddy,
Setting the GL by Item gives you the flexibility to post GL transactions specifically for that item.
It is quite possible that you might have set G/L by Item Group / Warehouse globally. But inspite might need some of the items with a group to post to a different GL.
In that case you could go to the Inventory Tab in Item Master and change the setting to Item Level. This will enable GL account columns at the Warehouse row level. Not you can change them and this change will only effect this item. You can consider this like a overrule of the global settings.
NOTE: These may not be visible, so you might have to make them visible from Form Settings
When you set GL by Item Group / Warehouse..each time you create am Item it inherits this setting.
Suda

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Changing Set GL/AC Accounts By : Item Group to Warehouse

My Client wants me to change Set GL/AC Accounts By : Item Group to Warehouse in Inventory Tab of Item Master Data Screen.
Please tell me what prerequisites to be perfomed before doing this and what impacts may be arising after that. Any experiences Please share...
Client is related to manufacturing industry.
Thanks in Advance...

Hi Naved ,
First of all , you are doing this in the Mid of Fiscal Year or Not !
Changing the G/L Acct Method is really a serious matter , since your stock value is in the Group Account now , if you change the G/L Method first of all you have to pass the journal entry for the Group Credit and the Warehouse Debit . So that your future entry can be secured .
Then again you have to do G/L Accounts Determination keeping every transaction in mind .
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Set G/L Accounts

In the Inventory-->Item Master Data Inventory data tab there is an option called set G/L account by warehouse, Itemgroup and by Item Level can I know a brief explanation on these. If I select Item group as warehouse what happens

Dear Sandy,
You use G/L account by item group if you maintain different item group, e.g. audio, video, TV, steel, fan item groups. You set G/L account in the COA for the item groups. Let's say item TV 14", TV 20".
You set G/L account by warehouse if you maintain different warehouse per area and in each of the area the price or item cost of your items are different.
You set G/L account by item level if you want to edit or enter all the G/L account fields in the inventory tab of item master data per warehouse and per item, another type of setting can't do this.
Rgds,
- shahak-

Set G/L Accounts By: Warehouse o

Hi,
Can any one please explain me the complete difference between setting G/L Account By Item Group, Item Level and Warehouse? I would be very convinced if the journals are explained and the effects on the G/L Account posting listed discretely. Which is a regular practice in India?
Regards
Sudatta Mohanty

Hi Sudatta Mohanty,
G/L setting by item groups facilitates you to get your accounts hit as per your item grouping. Let suppose you have two item groups, finished goods and raw materials and you set G/L account by Item Group. Now in the inventory account of Finished goods your G/L A/C related to finished goods would be mapped and G/L A/C for raw material in the Raw material's inventory A/C if you maintain G/L inventory value separately. Now whenever you will purchase something in finished goods, your finished goods A/C would be DR and any relevant clearing A/C would be CR with the purchased amount. The simplest G/L determination is by warehouse and then by Item Group. If you have very complex G/L posting requirements then you have to choose G/L setting by Items (which is vevry rarely used, only in mid to large account organizations).
I hope it would help you.
Regards,
/Siddiq

Difference - set g/l account by warehouse,item group,item level

hi all,
Pl. explain what is difference between setting
g/l accounts by warehouse,item group,item level ?
Jeyakanthan

Hi Jeyakanthan,
Let us consider an example that will make you understand this better. Consider that you are creating GRN's for Item A and Item B. The accounts that get updated are :
1. Inventory Account/Stock account: gets debited
2. Goods Received Not Invoiced Account : Gets Credited.
Now let us consider that Item A has been grouped under the item Group Raw Materials and Item B has been grouped under Item group Finished Goods. Now as mentioned above if you choose the Set G/L accounts by as Item Group in the Accounting tab of the item Group Raw Materials you will have to choose the Inventory/Stock Account as Inventory - Raw Material and for the Item Group Finished Goods the Inventory/Stock account has to be Inventory- Finished Goods. In all cases the Goods Received not Invoicved account will remain the same.When you create the GRN's the respective Inventory accounts will get debited and when you create the A/P Invoice for these the Goods Received Not Invoiced account will get Debited and the Vendor account will get credited.
Now in case if your company manages goods according to the Warehouse i.e. if the company has different warehouses for different types of goods like Raw Material warehouse for Raw Materials , Finished Goods warehouse for Finished goods then you should set the G/L accounts by Warehouse so that in the item master in the inventory Tab the respective warehouse is chosen and the relevant accounts are updated. Just for example when you choose Set G/L accounts by Warehouse for item A then in the accounting tab of the Raw Material Warehouse choose Inventoty - Raw material.
In the 3rd case consider that you are buying a Machine to be used in your workshop which is costing you around Rs. 10,00,000/- and the management wants to know the monthly utilisation costing of the machine like power, labour charges and overheads for that particular machine then it is better to define G/L accounts based on that item i.e. if Item C is a machine for which the Management wants to know the costing details then it would be better off defining a G/L account as Inventory - Item C. This option is better to be used for capital goods or Fixed assets.
For better understanding in the item master you need to initialise thru the Form settings the various G/L accounts like Goods received Not Invoiced accounts, Inventory accounts , Allocation Cost account etc.
Hope this calrifies matters.
Nagesh.

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G/L Account at Item Level.

hi all,
in item master data -->>Inventory add.
if we selected manage G/L by Item level,
where we will define the accounts for item as per item level..
Thanks,
Neetu

Hi Neetu,
When you select Item level G/L in the Item Master, the G/L Accounts determination for Revenue, COGS, Inventory, etc are taken as defined in the Inventory data tab, on the Warehouse row line. (If you do not see the G/L account, you could from Form settings enable them)
Once you set the G/L at Item level you have the flexibility to change the G/L accounts for a particular item.
Here is a brief explanation:
Set G/L Accounts by u2013 Use the drop down menu to select the required method by which you would like to set the G/L accounts connected to your items:
1. WH u2013 The G/L accounts defined in the Define Warehouse window, located under Administration --> Definitions --> Inventory --> Define Warehouses --> Accounting tab page.
2. Item Group u2013 The G/L accounts defined in the Define Item Groups window, located under Administration --> Definitions --> Inventory --> Define Item Groups --> Accounting tab page.
3. Item Level u2013 Select this method in order to define G/L accounts for each item manually via Inventory --> Item Master Data --> Inventory Data tab page.
Please go through the documentation :
https://websmp106.sap-ag.de/~form/sapnet?_FRAME=CONTAINER&_HIER_KEY=701100035871000371280&_OBJECT=011000358700005050492004E&_SCENARIO=01100035870000000183&
Also, refer to the following thread:
Inventory Data
Regards,
Jitin

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Dear All,
I have a question for the G/L account of Item Group.
If we purchase something from our vendor, the first account 'Expense Account' should be increase. Is that correct?
But our customer would like to have a Asset Account increase because that item group is for Fixed Asset (something like the computer they purchase for their employee, etc).
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Thanks a lot.
Regards,
yuka

Hi
I read all the post
I may be wrong but
I think just change the Inventory account for that item group if the G/L Accounts are set by item group
If it is by warehouse change Inventory account there ,or if by item level change there
I donu2019t know where expense account comes
I will explain in full
For GRPO the JE is
Inventory account Dr.    100
To Allocation Account Cr.             100
For A/P IN it is
Allocation Account Dr.    100
To Vendor Account                        100
So it simple if you change inventory account (instead of raw material ) to any Asset Account
The asset account will be updated with every purchase of that item
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Can anyone please guide me how to set the separate revenue account in the Master item ?
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Hi Mickey,
I think you misunderstood what they implying here. No one suggest you to create duplicate item code with different item group.
This action will raise some question:
1. How do you manage the stock? You're gonna decide that sales of same item with commission or without when you actually gonna to sell it isn't it? How you keep stock of item that not yet sell to the customer? How your warehouse department gonna do the stock opname? They count the same item as a singular item, while in system, the item code and respective stock is bifurcated as two item code.
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Set G/L Accounts By "Item"

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