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Cost Adjustment JE Account entry is incomplete

  • 1.  Cost Adjustment JE Account entry is incomplete

    Posted 3 days ago
      |   view attached
    Hi Everyone!

    This is my first request for help.  I've searched the internet but can't seem to find an answer.

    I used the Adjust Costs utility in Inventory and I couldn't post the General Posting Journal because I got the message "Account entry is incomplete."  I've done Adjust Costs before and never had a problem so I'm not sure what happened this time.

    Hopefully the attached pdf of my GP documents will help.

    #GeneralLedger
    #Inventory




    ​​

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    Vickie Jackson
    NewStar Sourcing and Service
    Omaha
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    Academy - Online Interactive Learning from Experts


  • 2.  RE: Cost Adjustment JE Account entry is incomplete

    GPUG ALL STAR
    Posted 2 days ago

    Hi @Vickie Jackson,
    Welcome! I'm sure there's enough wisdom in here to help you out with Q #1!

    Interesting to say the least. I can see scenarios where ONE G/L distribution might be missing, but both is unusual.

    If you look at the item card for the item being adjusted, are ALL distributions for that item populated, at least the 'Inventory' & 'Inventory Offset' accounts?


    Also, which version of GP are you running?

    Regardless of what we may or may not find out, the solution from here is going to be the same... Manually add the G/L distributions to the unposted Journal Entry & then post that transaction.

    Keep us posted!
    -Kyle

    ------------------------------
    Kyle Malone, CPA, CPA
    GP Admin - CGB Enterprises, Inc.
    Lead Consultant/Blogger - https://alacarteGP.com
    Chapter Leader - Louisiana (New Orleans)
    Solugence | Find the software that FITS your business + integrates with GP. Find Software Smarter. https://solugence.com
    ------------------------------

    Academy - Online Interactive Learning from Experts


  • 3.  RE: Cost Adjustment JE Account entry is incomplete

    Posted 2 days ago
    Kyle,

    Thanks for the quick reply.  All the distributions are on the item card.  Let me explain what led to the cost adjustments:

    We had a PO with 4000 lbs of an item on it.  The person who entered the receiving only scanned in 2000 lbs and added landed costs based on the full 4000 lbs.  Then they scanned in the remaining 2000 lbs without any added landed costs.  This caused a layer of 2000 lbs at $1.468/lb and a layer of 2000 lbs at $1.428/lb.  The correct cost per lb is $1.448.  So I did cost adjustments to make them all $1.448/lb.  So 2000 lbs went up by $.02/lb and 2000 lbs went down by $.02/lb.  The net effect is $0.00 which might be why there is no JE?

    Should I have handled this differently or not at all?  Should I do a JE debiting and crediting Inventory Adjustments $40.00?

    I'm using GP 2016.

    ------------------------------
    Vickie Jackson
    NewStar Sourcing and Service
    Omaha
    ------------------------------

    Academy - Online Interactive Learning from Experts


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