Concepts of Transfer Journal, Movement Journal , Proft & Loss Journal and Counting Journal

Transfer Journal:

Transfer Journals are used to transfer inventory quantity from one inventory dimension combination to another.

Inventory Management ->Journals ->Item Transaction ->Transfer

It does not include any costing.

It can be used to transfer inventory from

1. One location to another location.

2. One  batch to another batch.

3. One variant  to another variant

Movement Journal and Proft & Loss Journal:

These journals are used to record item issues or receipts in inventory.

But the difference between these two is of offset accounts.

In case of Movement Journal, while moving inventory you can add cost to an item.Here we have manually add the Ledger account(Not as per the posting profile account setup).

In case of Profit & Loss Journal, while moving invenotry, the cost is automatically added to a particular general ledger as per the item group posting profile setup.

Inventory Counting Journal:

Inventory Management -> Journals ->Item Counting ->Counting

In order to determine, the actual quantity avalaible physically, we will do inventory counting in the warehouse.

We will register the counted quantity in inventory journals. And when we do posting, the system will calculate the difference between the counted quantity and the physical quantity avaliable and will post an item issue/receipt.

We have got 2 options to register inventory counting:

Manual registration and  Create counting lines  automatically.

Manual registration- We have to enter the counting lines manually. In the Counted column, we need to enter the counted quantity.

 

 

 

 

 

Create counting lines automatically-

To create lines for counting exisiting stock automatically,

we have to click on Create/On- hand, Create /Items or Create/Expired Batches