Introduction to the Nominal Ledger and Associa - Flipbook - Page 114
Stock Audit Report
5.1 Audit Write-offs (7082)
These are easily investigated. The first place to start is the Movement page of the Part
which is reported on page 1 of the Stock Audit report.
The most common cause of write-off postings is where a part was sold at a particular
average cost, but then it was realized that this was the wrong cost when trying to verify the
invoice. So the user would have unreceived the part at original (wrong) cost and re-receive
at the newer (correct) cost. So the system now recognizes that the wrong cost of sale was
stated when that part was invoiced (in between the original receipt and the re-receipt). The
write-off value can be journaled against the incorrect cost of sale of that invoice.
E.g. a part had the stock sold between receipt and unreceive/re-receive;
100 were received and invoiced with cost of £2.00
- cost = 100 @ £2.00 = £200.00
100 were un-received at the original cost of £2.00
- cost = 100 @ £2.00 =£200.00
100 were Received back into Stock at a cost of £1.50 - cost = 100 @ £1.50 =£150.00
The system recognized that the average cost was £2.00 when part was sold, but it was
subsequently updated to be only £1.50 and this means that the wrong cost of sale was
stated when invoiced so the system now compensates by posting £50.00 to the Audit Write
off account (7082). This can be journaled against the incorrect cost of sale. See appendix B
on how to post an NL journal.
5.2 Audit Variances (7083)
These are usually easy to investigate as the part numbers causing the posting/s will usually
be listed on page 1 of the PSTAU report.
If a stock check has been carried out and the system updated, any variances will be
posted here and the part numbers listed.
If a user amends either the stock quantity or average cost of any part the system will
recognize this at day end when it reconciles the stock values and post the appropriate
variance amount.(If there is no stock quantity before and after the amendment then there will
be no variance posted).
If the posting has been caused by a Manufacturer9s price change then we may see this in
the stock card, prices and costs, surcharge. This will show a different price to the surcharge
on the price update section. If the manufacturer changes the surcharge value of any part
that has a quantity in stock, then the new surcharge value will be applied to that part and
there will be a gain or loss to the sum of the quantity in stock X (multiplied by) change in
surcharge value.
Note: XP (old units) are not updated by the manufacturers price update.
If a part has been superseded to another part at a different average cost, the system will
write the difference in average cost (X quantity stock superseded) to variance 7083.
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