Accounting - Inventory Adjustments Export

Overview:

The Inventory Adjustments Export will export adjusting journal entries for the value of an ending inventory count, to your General Ledger, based on your Inventory Categories and their associated GL Accounts. We are posting a reversing adjustment to your prior ending inventory (a debit to the Cost of Goods accounts and a credit to the asset accounts), and then posting a debit for the most current inventory value to the asset accounts and a credit to the COGS accounts. 

Things to know!

• This feature will only be available and visible to Users that are given access to it. 
• COGS-Well will export ending inventory adjustments based on the Inventory Categories set up in COGS-Well and the chart of account it has been mapped to in your accounting system. 
• Adjustments will include inventory counts, transfers, and production. 
• If you want to see the credit and debit adjustments that will be included in the export and make sure they are in balance, then run the Journal Adjustment report in Inventory Reports. 
• An Integration to your accounting system must be set up before you run this function.  COGS-Well support sets up Accounting Integrations for you as part of the initial system setup.  If you are uncertain, please contact GOGS-Well support. 
• A GL (General Ledger) Account Map must be set up before you run this function.  COGS-Well support sets up GL Account Maps for you as part of the initial system setup.  If you are uncertain, please contact COGS-Well support. GL Account Maps can be accessed via Accounting>Setup>GL Account Maps.
• If you are using the transfer feature, adjustments for the Transfer activity can be posted as part of the adjustments. 

Inventory Adjustments Export:

To export Inventory Adjustments from GOGS-Well to your accounting system navigate to Accounting>Inventory Adjustments Export. The name of your Accounting system should show before the hyphen for Inventory Adjustments Export.  After selection, an Inventory Adjustments Export Criteria screen like the one below will be displayed. 

Criteria Tab: 

Count Date: Use the drop-down to select the Count Valuation date that you prefer. The default will be to your last Count date. If you see no counts then that means there are no counts in the system that are available to export (Valuation Counts already exported will not display). 

Next or Close: The next button will advance you to the Entry tab. The close button will close this transaction. 

Inventory Adjustments for Export Tab: 

After you have selected your criteria, click on the Next button or on the Inventory Adjustments for Export tab, and data for the Criteria you entered will display.

Export: If you are ready to export the inventory count adjustment, then select Export. Every transaction on the display will export. 

Close: Click close to end the transaction.