cancel
Showing results for 
Search instead for 
Did you mean: 

How we will settle "Increase/Decrease of stock account

Former Member
0 Kudos

Dear Experts,

How we will settle "Increase/Decrease of stock account' while business transaction takes place in receiving materials from Production order to finished goods .

Finished goods a/c Dr

To incr/decrease of stock account.

Thanks

Ramakrishna

Accepted Solutions (0)

Answers (3)

Answers (3)

Former Member
0 Kudos

Hi Dear,

Inc dec account is not as such "settled". It has a credit balance whcih represents the Credit for goods produced.The Balance of this account should be equal to The variance of FG & process stock account, else a FI entry should be passed every month whcih should be reversed at the next month starting date.

Regards,

Saurabh

Former Member
0 Kudos

Hi,

It is fair for the guys reponding to Qs posted, to expect points to be awarded for their answers, in recognition of the time and the effort expended by everyone who responds, otherwise the whole spirit of responding is lost and people will not respond.

Request you to award points to all who have responded if you find their answers useful and close the Thread.

Please recognize the effort of others as you would expect the same from others.

Regards,

Former Member
0 Kudos

Hi,

Increase/Decrease of stock account is a P&L Account which will have a credit balance. This account should be grouped alongwith the Consumption Accounts (With Debit balances) in the Financial Statement version so that the correct Consumption value is shown in the P&L Account.

Regards,

Award points if useful.