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Dear friends....What account to determine G/L Decrease /Increase Ac

partha_chowdhury
Explorer
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Dear Friends

While making the Material Revaluation of a particular item, we need to define first G/L Increase Account and G/L Decrease Account in the warehouse account.So which account to be defined is as

G/L Increase Account

G/L Decrease Account

Please reply me ASAP.

Thanks

Accepted Solutions (1)

Accepted Solutions (1)

Former Member
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hi,

The G/L decrease/increase account is used when you Revaluate your Inventory using

Inventory > Inventory Transactions > Inventory Revaluation. Here you are adjusting the cost price of the Item and not the Quantity.

The reason for this is purely to help analysis of how much of a Gain or Loss you have in a given period due to Stock changes or Price changes.

- G/L decrease / increase is an offset account to a price difference account in the inventory revaluation that the revaluation type must be inventory debit / credit, if using cost change, there is no journal and the G/L decrease / increase account balance will not change.

Other detail definition can be seen in the help file

This accounts are generally created as profit & Loss(Gain/loss material revaluation) accounts in Cost of Sales drawer in 8.8.

Hope it helps you.

Regards.

ShriX.

partha_chowdhury
Explorer
0 Kudos

Thanks a lot friend...............

Answers (2)

Answers (2)

partha_chowdhury
Explorer
0 Kudos

Thanks a lot friends

Former Member
0 Kudos

Hello

G/L Increase Account

G/L Decrease Account

these two account use at the time of inventory revaluation.

from Inventory-Inventory Transaction-Inventory Revaluation