Using Inventory Control with General Ledger

The settings on the Integration tab of the I/C G/L Integration screen control when and how the G/L transactions are created as well as whether the transaction details are consolidated. The Transaction tab shows the information to include in the description, reference, and comment fields in the general ledger transactions; you can use the G/L Integration Detail screen to change the type of information to include.

When G/L Transactions are Created

Use one of the following Create G/L Transactions options to specify when to create general ledger transactions:

  • During Posting or During Day End Processing. This option lets you create general ledger transactions during posting or when you run day end processing—depending on your I/C settings. More...

    This name of this option changes depending on the settings on the Costing tab of the I/C Options screen. Depending on the selection for Create Subledger Transactions and Audit Information During, the program creates the G/L transactions either:

    • When you post I/C transactions; this choice is only available if the program also costs items during posting.
    • When you run Day End Processing.
    Tip:

    These choices can have a large impact on the speed of processing transactions in Inventory Control, Order Entry, and Purchase Orders. If you need to speed up order processing:

    • Switch to costing inventory when you run Day End Processing (on the I/C Options screen).
    • Select the Manually Using I/C Create G/L Batch Screen option so G/L transactions are only created when you use the I/C Create G/L Batch screen.

  • Manually Using I/C Create G/L Batch Screen. This option lets you create general ledger transactions at any time that's convenient for you. More...

    Select this option if you want to speed up order processing. When you want to create the G/L transactions, use the I/C Create G/L Batch screen.

    Note: You cannot print the G/L Transactions report in Inventory Control if the G/L transactions have already been created. Print the report before using the I/C Create G/L Batch screen to create the transactions.

Important! You can change this selection any time. However, if Manually Using I/C Create G/L Batch Screen is selected, print a copy of the latest G/L Transactions report and create any outstanding transactions (using the I/C Create G/L Batch screen) before changing the selection, to avoid accidentally omitting transactions from your general ledger batches.

How G/L Batches are Created

Use the Create G/L Transactions By setting to specify how to create the batch.

Specify whether to:

  • Add general ledger transactions to an existing General Ledger batch.
  • Create a new General Ledger batch each time you generate G/L transactions.
  • Create a new General Ledger batch each time you generate G/L transactions, and automatically post the batch in General Ledger.

Note: If you are using Serialized Inventory and Lot Tracking, you cannot use the option to create and automatically post G/L batches during I/C transaction posting.

To have only one General Ledger batch for all transactions, select Adding to an Existing Batch.

If you choose to post the G/L batches automatically, you should choose the option to create subledger batches during day end processing (on the Costing tab of the I/C Options screen).

Important! Remember to create and post G/L batches for outstanding transactions before locking periods for General Ledger.

Whether Transaction Details are Consolidated

Use the Consolidate G/L Batches setting to specify whether or not to consolidate transaction details for the same general ledger account. For more information, see About Consolidating G/L Batches.

General Ledger Accounts Used with Inventory Control

The summary at the end of each Inventory Control posting journal lists the general ledger accounts that will be debited and credited when you post the Inventory Control batch of general ledger entries in General Ledger.

Inventory Control uses the following general ledger accounts: