Waste Transaction or Scrapping Material.

Question

Hi! Gurus
In NZ and Australia Balance Sheet stock at the end of a period should reflect P&L Closing Stock for the same period. Opening stock for a new year is a reflection of balance sheet stock at the end of the last period, so too should it always be a reflection of P&L Closing stock of the outgoing year. There are not two stocks of inventory, just the one u2013 reported on both BS & P&L, hence the balances there-in should be a mirror image of each other.
Current Process:
At the time goods receipts the accounting are as follows:
Dr. Stock Account (Balance Sheet)
Cr. GR/IR Account
Dr. Purcashe Account (P&L)
Cr Purchase offsetting Account P&L
When we scrap material, the accounting as below
Dr Waste Expneses (P&L)
Cr Stock Account (Balance Sheet)
The requirement:
In order to reconcile with Stock Account we need to include Purchase Account during waste transaction.
The expected accounting is as follows:
Dr Waste Expneses (P&L)
Cr Stock Account (Balance Sheet)
Dr Inventory Difference (P&L)
Cr Purchase Account (P&L)
Could you please let me know if there is any setting at OBYC in order to include purchase account during wast transaction.
Best Regards
Surya

Answer 1

Hi Surya,
If you check the value string of movement type 551(GI scrapping), it's set as WA01.
And from control table T156W for WA01, you can see that
no EIN(Purchase account)/EKG(Purchase offsetting account) there, thus you can not
post EIN/EKG with movement type 551.
Comparing 101 posting with value string WE01, you can see in T156W, there are
EIN/EKG entries, thus they are possible during GR posting if customizing has set it
as required.
Hope it helps.
Thanks and regards,
Polly