General Ledger Transactions Overview

Materials Issued to an SRO

In this case, the SRO item must be in the Items form.

When the SRO Accumulate WIP check box is selected, and the partner is not reimbursed for materials:

Debit	Credit
	Items's inventory location material account
	Items's inventory location labor account
	Items's inventory fixed overhead account
	Items's inventory variable overhead account
	Items's inventory location outside account
SRO WIP Labor Acct
SRO WIP Fixed Overhead Acct
SRO WIP Variable Overhead Acct
SRO WIP Outside Acct
	Item's Product Code Fixed Overhead Acct
	Item's Product Code Variable Overhead Acct

When the SRO Accumulate WIP check box is cleared, and the partner is not reimbursed for material:

Debit	Credit
	Item's Inventory Location Material Acct
	Item's Inventory Location Labor Acct
	Item's Inventory Location Fixed Overhead Acct
	Item's Inventory Location Variable Overhead Acct
	Item's Inventory Location Outside Acct
SRO COGS Material Acct
SRO COGS Labor Acct
SRO COGS Fixed Overhead Acct
SRO COGS Variable Overhead Acct
SRO COGS Outside Acct
	Item's Product Code Fixed Overhead Acct
	Item's Product Code Variable Overhead Acct

When the SRO Accumulate WIP check box is selected, and the partner is reimbursed for materials:

Debit	Credit
	Partner Reimbursement Account (Vouchers Payable)
SRO WIP Material Acct
SRO WIP Labor Acct
SRO WIP Fixed Overhead Acct
SRO WIP Variable Overhead Acct
SRO WIP Outside Acct
	Item's Product Code Fixed Overhead Acct
	Item's Product Code Variable Overhead Acct

When the SRO Accumulate WIP check box is cleared, and the partner is reimbursed for materials:

Debit	Credit
	Partner Reimbursement Account (Vouchers Payable)
SRO COGS Material Acct
SRO COGS Labor Acct
SRO COGS Fixed Overhead Acct
SRO COGS Variable Overhead Acct
SRO COGS Outside Acct
	Item's Product Code Fixed Overhead Acct
	Item's Product Code Variable Overhead Acct

Labor Transactions Logged against an SRO

These transactions are performed by partners only.

When the SRO Accumulate WIP check box is selected:

Debit	Credit
SRO WIP Labor Acct
SRO WIP Fixed Overhead Acct
SRO WIP Variable Overhead Acct
	Partner Department Labor Expense
	Partner Department Fixed Overhead Labor Applied
	Partner Department Variable Overhead Labor Applied

When the SRO Accumulate WIP check box is cleared:

Debit	Credit
SRO COGS Labor Acct
SRO COGS Fixed Overhead Acct
SRO COGS Variable Overhead Acct
	Partner Department Labor Expense
	Partner Department Fixed Overhead Labor Applied
	Partner Department Variable Overhead Labor Applied

Miscellaneous Transactions Issued To A SRO

When the SRO Accumulate WIP check box is selected:

Debit	Credit
	Miscellaneous Code Account
SRO WIP Material Acct
SRO WIP Labor Acct
SRO WIP Fixed Overhead Acct
SRO WIP Variable Overhead Acct
SRO WIP Outside Acct

When the SRO Accumulate WIP check box is cleared:

Debit	Credit
	Miscellaneous Code Account
SRO COGS Material Acct
SRO COGS Labor Acct
SRO COGS Fixed Overhead Acct
SRO COGS Variable Overhead Acct
SRO COGS Outside Acct

SRO Invoice Printing

When the SRO Accumulate WIP check box is selected:

Debit	Credit
	SRO WIP Material Acct
	SRO WIP Labor Acct
	SRO WIP Fixed Overhead Acct
	SRO WIP Variable Overhead Acct
	SRO WIP Outside Acct
SRO COGS Material Acct
SRO COGS Labor Acct
SRO COGS Fixed Overhead Acct
SRO COGS Variable Overhead Acct
SRO COGS Outside Acct

When the SRO Accumulate WIP check box is cleared:

No Posting Required

SRO Invoice Posting (Posted From A/R)

Debit	Credit
	SRO Sales Account
A/R Account From A/R Parameters

SRO Invoice Posting (Posted From A/R)

Debit	Credit
	SRO Sales Account
A/R Account From A/R Parameters

Contract Invoice Posting (Posted From A/R)

Debit	Credit
	Contract Product Code Sales Account
A/R Account From A/R Parameters