This topic discusses the options you can select on the Integration tab of the G/L Integration screen, to specify how your Inventory Control system creates transactions for your general ledger.
Overview
Inventory Control produces general ledger transactions from the inventory transactions you post. Each general ledger transaction includes all the information you need to update inventory control accounts in your general ledger.
If you use Sage 300 General Ledger and Inventory Control with the same database, Inventory Control creates General Ledger batches or appends to existing batches either when you post the transaction, or when you run day-end processing, or at a later time that you choose.
If your General Ledger is at another location or in a separate database, Inventory Control appends general ledger transactions to a file you can import into another general ledger, or print, then enter manually into your general ledger. Inventory Control appends to the transaction file either when you run day-end processing or at a later time that you choose.
Specify when to generate general ledger transactions: either during posting, or when you run day-end processing, or at a later time of your choosing (using the Create G/L Batch screen).
- To create a batch or append
to an existing batch or transaction file only when you are ready, use
the On Request Using Create G/L Batch Icon option. When you are ready
to create general ledger transactions, you then use the Create G/L Batch
screen.
Select this option if you want to be able to consolidate general ledger transaction details and print Inventory Control’s G/L Transactions report.
-
To create a batch or append to an existing batch or transaction file when you run day-end processing, select the During Day End Processing option.
Using Inventory Control and General Ledger at the Same Site
If you use Sage 300 General Ledger with Inventory Control, the Inventory Control general ledger batches are created in General Ledger. To avoid making accidental changes to General Ledger batches created by Inventory Control, select No Edit for the Edit Imported Entries option in General Ledger's Options screen.
Specifying the Number of General Ledger Batches to Produce
Specify whether to append general ledger transactions to an existing Sage 300 General Ledger batch each time you run day-end processing, or to create a new General Ledger batch.
To have only one General Ledger batch to which all transactions are appended, turn on the Append G/L Transactions To Existing Batch option. Inventory Control must use the same database as Sage 300 General Ledger.
Using Inventory Control without Sage 300 General Ledger at the Same Site
If you do not use Sage 300 General Ledger—or if your Sage 300 General Ledger system is at another location—Inventory Control appends its general ledger transactions to a file in your company's data directory called icgltran.csv, which can be imported by a remote site General Ledger, or transferred to another general ledger that you use. The file is in a Comma Separated Values (CSV) format.
Choosing Consolidation Options for General Ledger Transactions
If you selected the On Request Using Create G/L Batch Icon option to create general ledger transactions, you can create consolidated batches of general ledger transactions that combine several details into a single detail, or you can create unconsolidated batches that include all the details posted to each general ledger account. Select the consolidation method you want from the Consolidate G/L Batches option.
If you selected the During Day End Processing option to create general ledger transactions then you cannot create consolidated batches of general ledger transactions.
Consolidation reduces the amount of information in the general ledger batch and results in a shorter G/L Transactions Listing. Consolidation also "consolidates" the information in the Reference and Description fields for each transaction.
Consolidate transaction details if you do not need a record of all details posted to each general ledger account from Inventory Control transactions.
The options available include the following:
- Do
not consolidate.
All the details posted in Inventory Control will be included in the General Ledger transaction batch.
Choose this option if you use optional fields and pass optional field information from I/C transaction details to G/L transaction details.
- Consolidate
transaction details by account.
All the details within a transaction with the same general ledger account number are combined into one detail.
Choose this option if you do not use optional fields, but still want to associate general ledger transactions with originating documents (for drill down or to maintain a manual audit trail).
- Consolidate
by account and fiscal period.
All the details with the same general ledger account number and fiscal period are combined into one detail.
Note that this choice only consolidates details from different transactions if you create transaction batches using the G/L Batch screen.
- Consolidate
by account, fiscal period, and source.
All the details with the same general ledger account number, fiscal period, and source code are combined into one detail.
This choice only consolidates details from different transactions if you create transaction batches using the G/L Batch screen.
Creating Detailed General Ledger Transactions
Use the Do Not Consolidate option if:
-
You require detailed general ledger transaction information for your Inventory Control records.
-
You want to drill down from transactions in General Ledger to the source transactions in Inventory Control.
The Do Not Consolidate option provides complete information in your general ledger transaction batch, but can result in a long G/L Transactions report and a large general ledger batch. However, if you use Sage 300 General Ledger, you can consolidate the transaction details when you post the batch in General Ledger.
Selecting References and Descriptions for General Ledger Transactions
You can specify the type of information to use in the Description, Reference, and Comment fields for each unconsolidated general ledger transaction and transaction detail. The information appears in Inventory Control’s G/L Transactions report, and on reports in General Ledger.
Select the information you need for your audit trail of unconsolidated Inventory Control transactions using the Transactions tab of the G/L Integration screen.
When you consolidate general ledger transactions by account number and fiscal period, the source code after consolidation is IC-CO.
When you consolidate general ledger transactions, the reference for each transaction becomes blank, and the description for each transaction is changed to "Consol. by I/C on date." (Note that when there is only one of a particular transaction type, the reference and description for the transaction are whatever you selected on the Transactions tab of the G/L Integration screen.)