Creating account groups

Use the inventory location account group page to define account groups by company location.

Before you can set up inventory location account groups, you must define general ledger accounts in Global Ledger. You must also set up an item location in Item Location or Item Master and Location. Assign an account group to each item location record that you set up.

Inventory location account groups specify the inventory and offset global ledger accounts to post inventory transactions such as issues, receipts, and adjustments. If multiple company locations exist, a unique account group can be set up for each location.

  1. Select Supply Management > Supply Management Setup > Inventory Control > Inventory Location Information > Account Groups.
  2. Click Create.
  3. Specify Company, Location, and General Ledger Category.
  4. In the Accounts section, specify this information:
    Inventory
    Select the Inventory account string.
    Receipts
    Select the offset inventory receipts account string.
    Issues
    Select the offset inventory issues acount string.
    Adjustment
    Select the offset inventory adjustment account string.
    Cost Variance
    Select the offset inventory cost variance account string.
    Intransit
    Select the offset inventory intransit account string.
    Phys Inv Variance
    Select the offset physical inventory variance account string.
    Add On Cost
    Select the offset inventory add on cost account string.
    Shrinkage
    Select the offset inventory shrinkage general ledger account string.
  5. Click Save.