Account Inventory Integration

Hi everyone,

We have prepared a document on how we intend to implement Account Inventory Integration in ERPNext.

Please have a look at it here: https://github.com/webnotes/erpnext/wiki/Account-Inventory-Integration

Please share your experience, comments and suggestions.

Thanks,
ERPNext Team.



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Hi Anand,


What has changed from the existing structure?


It looks pretty similar to me so was wondering what I was missing.


Regards,

Sonal





On Thursday, October 11, 2012 6:22:03 PM UTC+5:30, Anand Doshi wrote:
Hi everyone,

We have prepared a document on how we intend to implement Account Inventory Integration in ERPNext.


Please share your experience, comments and suggestions.

Thanks,
ERPNext Team.

Hi Sonal,

In the current system, “Cost of Goods Sold” booked directly on “Purchase Invoice”. System does not pass automated GL Entry for “Stock In Hand” account in Purchase Receipt and Delivery Note.


Now the entire process is automated and you do not have to book “Stock In Hand” account manually.


Regards,
Nabin Hait

On Fri, Oct 12, 2012 at 12:12 PM, Sonal <so…@gmail.com> wrote:

Hi Anand,


What has changed from the existing structure?


It looks pretty similar to me so was wondering what I was missing.


Regards,

Sonal





On Thursday, October 11, 2012 6:22:03 PM UTC+5:30, Anand Doshi wrote:
Hi everyone,

We have prepared a document on how we intend to implement Account Inventory Integration in ERPNext.


Please share your experience, comments and suggestions.

Thanks,
ERPNext Team.

Hi Nabin,

Has this feature already been implemented?
From: Nabin Hait <na...@iwebnotes.com>
Sender: er...@googlegroups.com
Date: Fri, 12 Oct 2012 12:25:47 +0530
To: <er...@googlegroups.com>
ReplyTo: er...@googlegroups.com
Subject: Re: [erpnext-user-forum] Re: Account Inventory Integration

Hi Sonal,

In the current system, "Cost of Goods Sold" booked directly on "Purchase Invoice". System does not pass automated GL Entry for "Stock In Hand" account in Purchase Receipt and Delivery Note.

Now the entire process is automated and you do not have to book "Stock In Hand" account manually.


Regards,
Nabin Hait

On Fri, Oct 12, 2012 at 12:12 PM, Sonal <so...@gmail.com> wrote:

Hi Anand,


What has changed from the existing structure?


It looks pretty similar to me so was wondering what I was missing.


Regards,

Sonal





On Thursday, October 11, 2012 6:22:03 PM UTC+5:30, Anand Doshi wrote:
Hi everyone,

We have prepared a document on how we intend to implement Account Inventory Integration in ERPNext.


Please share your experience, comments and suggestions.

Thanks,
ERPNext Team.

Dear Dimeji,

We are working on it, hoping to release the feature in next week.

Thanks,
Nabin Hait

On Fri, Oct 12, 2012 at 12:45 PM, Dimeji <di…@basscommgroup.com> wrote:
Hi Nabin,

Has this feature already been implemented?
From: Nabin Hait <na...@iwebnotes.com>
Date: Fri, 12 Oct 2012 12:25:47 +0530
Subject: Re: [erpnext-user-forum] Re: Account Inventory Integration

Hi Sonal,

In the current system, "Cost of Goods Sold" booked directly on "Purchase Invoice". System does not pass automated GL Entry for "Stock In Hand" account in Purchase Receipt and Delivery Note.


Now the entire process is automated and you do not have to book “Stock In Hand” account manually.


Regards,
Nabin Hait

On Fri, Oct 12, 2012 at 12:12 PM, Sonal <so…@gmail.com> wrote:

Hi Anand,


What has changed from the existing structure?


It looks pretty similar to me so was wondering what I was missing.


Regards,

Sonal





On Thursday, October 11, 2012 6:22:03 PM UTC+5:30, Anand Doshi wrote:
Hi everyone,

We have prepared a document on how we intend to implement Account Inventory Integration in ERPNext.


Please share your experience, comments and suggestions.

Thanks,
ERPNext Team.


I just went through the document. Is the whole process going to be automated or we need to pass entries separately? I have a doubt as to how we can change the value of stock. Once the goods are created the system would value the stock based on the costs. We manufacture goods that have a certain shelf life and once the goods reach a certain age the value of the stock has to be reduced. How do we do that and if we change the value of stock today does it effect the stock value for all the previous transactions. In my opinion stock-accounts integration is a tricky affair and needs to be thought out carefully. I agree keeping it separate might work for small organisations but for large organisations and companies with large number of stock items the feature would be a boon.  

On Thursday, October 11, 2012 6:22:03 PM UTC+5:30, Anand Doshi wrote:

Hi everyone,

We have prepared a document on how we intend to implement Account Inventory Integration in ERPNext.


Please share your experience, comments and suggestions.

Thanks,
ERPNext Team.

Dear Mehul,

Thanks for your suggestion.

The value of stock will be determined based on rate in Purchase Receipt. And all the entries mentioned in the document will be posted in the backend with submission of respective transaction.


Once launched, stock-account integration feature for work for all the customer, irrespective of its size and business. You will be allowed to make adjustment entry to correct the value of stock when required. For example, reducing the value of stock after certain shelf life can be taken care by Journal Entry posting.


Look forward to receive more such suggestions from you.


Thanks and Regards,

Umair Sayyed
um…@erpnext.com
www.erpnext.com




On Thu, Oct 25, 2012 at 5:05 PM, mehul mehta <b…@gmail.com> wrote:

I just went through the document. Is the whole process going to be automated or we need to pass entries separately? I have a doubt as to how we can change the value of stock. Once the goods are created the system would value the stock based on the costs. We manufacture goods that have a certain shelf life and once the goods reach a certain age the value of the stock has to be reduced. How do we do that and if we change the value of stock today does it effect the stock value for all the previous transactions. In my opinion stock-accounts integration is a tricky affair and needs to be thought out carefully. I agree keeping it separate might work for small organisations but for large organisations and companies with large number of stock items the feature would be a boon.

On Thursday, October 11, 2012 6:22:03 PM UTC+5:30, Anand Doshi wrote:
Hi everyone,

We have prepared a document on how we intend to implement Account Inventory Integration in ERPNext.


Please share your experience, comments and suggestions.

Thanks,
ERPNext Team.




Hi Mehul,


Thanks for sharing your situation. You would be able to use Stock Reconciliation to adjust the valuation rate of your items.

We are planning to make this feature optional. As in, there will be a checkbox to enable or disable Account Inventory Integration in Global Defaults. So you can have a go on the demo account before you are fully convinced whether automated is the way to go or not.

Thanks,
Anand.

On Thu, Oct 25, 2012 at 5:21 PM, Umair Sayyed <um...@iwebnotes.com> wrote:
Dear Mehul,

Thanks for your suggestion.

The value of stock will be determined based on rate in Purchase Receipt. And all the entries mentioned in the document will be posted in the backend with submission of respective transaction.


Once launched, stock-account integration feature for work for all the customer, irrespective of its size and business. You will be allowed to make adjustment entry to correct the value of stock when required. For example, reducing the value of stock after certain shelf life can be taken care by Journal Entry posting.


Look forward to receive more such suggestions from you.


Thanks and Regards,

Umair Sayyed
um…@erpnext.com
www.erpnext.com




On Thu, Oct 25, 2012 at 5:05 PM, mehul mehta <b....@gmail.com> wrote:

I just went through the document. Is the whole process going to be automated or we need to pass entries separately? I have a doubt as to how we can change the value of stock. Once the goods are created the system would value the stock based on the costs. We manufacture goods that have a certain shelf life and once the goods reach a certain age the value of the stock has to be reduced. How do we do that and if we change the value of stock today does it effect the stock value for all the previous transactions. In my opinion stock-accounts integration is a tricky affair and needs to be thought out carefully. I agree keeping it separate might work for small organisations but for large organisations and companies with large number of stock items the feature would be a boon.


On Thursday, October 11, 2012 6:22:03 PM UTC+5:30, Anand Doshi wrote:
Hi everyone,

We have prepared a document on how we intend to implement Account Inventory Integration in ERPNext.


Please share your experience, comments and suggestions.

Thanks,
ERPNext Team.





I had a look at the document, but it doesn’t seem to deal with entries for manufacturing inventory. I am wondering how that would be handled.
(ex. consume raw materials to work in process, wip to finished good etc). 

On Thursday, October 11, 2012 8:52:03 AM UTC-4, Anand Doshi wrote:

Hi everyone,

We have prepared a document on how we intend to implement Account Inventory Integration in ERPNext.


Please share your experience, comments and suggestions.

Thanks,
ERPNext Team.

Hi,

While issuing raw material to WIP, Stock In Hand account will be credited and Stock Adjustment account will be debited as per raw material valuation rate.
And in backflush, reverse entry will be made as per incoming rate of finished goods.

Regards,
Nabin Hait

On 26 Oct 2012 21:44, "fblauer" <fb...@gmail.com> wrote:
I had a look at the document, but it doesn't seem to deal with entries for manufacturing inventory. I am wondering how that would be handled.
(ex. consume raw materials to work in process, wip to finished good etc).

On Thursday, October 11, 2012 8:52:03 AM UTC-4, Anand Doshi wrote:
Hi everyone,

We have prepared a document on how we intend to implement Account Inventory Integration in ERPNext.


Please share your experience, comments and suggestions.

Thanks,
ERPNext Team.

Will there be an option to have accounting integrated or not? If so, will it be for the whole company only, or will you be able to chose product categories or product to be integerated with accounting?


On Fri, Oct 26, 2012 at 1:34 PM, Nabin Hait <na…@iwebnotes.com> wrote:

Hi,

While issuing raw material to WIP, Stock In Hand account will be credited and Stock Adjustment account will be debited as per raw material valuation rate.
And in backflush, reverse entry will be made as per incoming rate of finished goods.

Regards,
Nabin Hait

On 26 Oct 2012 21:44, "fblauer" <fb...@gmail.com> wrote:

I had a look at the document, but it doesn't seem to deal with entries for manufacturing inventory. I am wondering how that would be handled.
(ex. consume raw materials to work in process, wip to finished good etc).


On Thursday, October 11, 2012 8:52:03 AM UTC-4, Anand Doshi wrote:

Hi everyone,


We have prepared a document on how we intend to implement Account Inventory Integration in ERPNext.


Please share your experience, comments and suggestions.

Thanks,
ERPNext Team.



--
Fred Blauer CA, CA.IT, CISA
http://openacct.ca
fr...@openacct.ca
514-667-1555

Hi,

There will be a global switch (setup > Global Defaults) to enable/disable account inventory integration. If enabled, it will be valid for all stock items for all companies in erpnext.

Thanks,
Anand.

On Oct 26, 2012 11:04 PM, "Nabin Hait" <na...@iwebnotes.com> wrote:

Hi,

While issuing raw material to WIP, Stock In Hand account will be credited and Stock Adjustment account will be debited as per raw material valuation rate.
And in backflush, reverse entry will be made as per incoming rate of finished goods.

Regards,
Nabin Hait

On 26 Oct 2012 21:44, "fblauer" <fb...@gmail.com> wrote:

I had a look at the document, but it doesn't seem to deal with entries for manufacturing inventory. I am wondering how that would be handled.
(ex. consume raw materials to work in process, wip to finished good etc).


On Thursday, October 11, 2012 8:52:03 AM UTC-4, Anand Doshi wrote:

Hi everyone,


We have prepared a document on how we intend to implement Account Inventory Integration in ERPNext.


Please share your experience, comments and suggestions.

Thanks,
ERPNext Team.

Its a good idea to have accounts inventory integration as an option. However it would be more helpful if the option is restricted to companies. User should be able to choose integrated accounts inventory for one company and have it otherwise for another company.

On Thursday, October 11, 2012 6:22:03 PM UTC+5:30, Anand Doshi wrote:

Hi everyone,

We have prepared a document on how we intend to implement Account Inventory Integration in ERPNext.


Please share your experience, comments and suggestions.

Thanks,
ERPNext Team.