 | Published Date: 15 Mar 2008
FAQ No: 0003
SIMS & SFM Interface Posting
The following table identifies the accounting entries posted in the Shireburn Financial Manager from transaction in the Shireburn Management Inventory System.
The link from the inventory to the accounting system is available from the stock group or where applicable from the location code. Further details will be available before implementation of both systems.
While the system will post sales invoices and purchase invoices individually, the entries for cost of sales, adjustments and WIP values the system will group together by the stock group (or location) on a daily basis.
| Transaction Type | Debit | Credit |
| Invoice and Credit Notes – Sales Value | Client Account | Sales Account |
| Invoice and Credit Notes – Cost of Sales | Cost of Sales Account | Stock Control |
| Cash Sales/Return | Cash Account | Sales Account |
| Cash Sales/Return – Cost of Sales | Cost of Sales Account | Stock Control |
| Purchases (Local/Foreign) | Stock Control | Supplier’s Account |
| Adjustment Add | Stock Control | Stock Adjustment Account |
| Adjustment Deduct | Stock Adjustment Deduct | Stock Control |
| Issues to WIP | WIP Account | Stock Control |
| Returns from WIP | Stock Control | WIP Account |
| Receipt of Finished Goods | Stock Control | Finished Goods Values |
| Returns of Finished Good to Production | Finished Goods Value | Stock Control |
The above interface will not require the opening stock, purchases and closings stock accounts, as the system will post of the cost of sales, adjustment and WIP cost accounting on a daily basis.
With the above interface the cost of sales and production costs, etc are available on the trail balance for analysis immediately.
Category: |
SFM interface |
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