{"id":8635,"date":"2014-09-03T06:09:46","date_gmt":"2014-09-03T06:09:46","guid":{"rendered":"http:\/\/www.greytrix.com\/blogs\/sageaccpacerp\/?p=8635"},"modified":"2014-09-03T06:09:46","modified_gmt":"2014-09-03T06:09:46","slug":"gl-handling-of-expensed-additional-cost-ii","status":"publish","type":"post","link":"https:\/\/www.greytrix.com\/blogs\/sageaccpacerp\/2014\/09\/03\/gl-handling-of-expensed-additional-cost-ii\/","title":{"rendered":"GL Handling of Expensed Additional Cost \u2013 II"},"content":{"rendered":"

In the last blog, “GL Handling of Expensed Additional Cost \u2013 I<\/a>”\u00a0we saw the GL impact of the Expensed Additional cost when the setup option Create GL Entries for Expensed Additional cost was checked. In this blog let us check in detail the effects when the same option is un-checked.<\/p>\n

New Stuff<\/em><\/strong><\/span>:\u00a0Tax Setting \u2013 Allow Tax In Price<\/a><\/p>\n

To un-check the option, navigate to PO -> PO Setup -> PO GL Integration<\/p>\n

\"Untitled\"<\/a><\/p>\n

\u00a0When this option is un-checked, the system does not create a separate GL entry for the expensed additional cost. Consider the same example as in the last blog and let\u2019s compare the difference where we have received an item at a cost of USD 433 from the vendor \u2018Chloride System\u2019 and there is an additional cost of SAD of USD 30 on the purchase against vendor \u2018Exide Industrial Batteries\u2019. In this scenario, this additional cost is not required to be loaded on Inventory but instead expense out to particular GL account as shown below:<\/p>\n

\"Untitled\"<\/a><\/p>\n

\u00a0When the receipt is posted, a GL entry would be created which will not have the impact of the expensed additional cost at the time of GRN but only the Inventory account would be debited and the payable clearing account will be credited.<\/p>\n

\"Untitled\"<\/a><\/p>\n

When the additional cost Invoice is raised against vendor \u2018Exide Industrial Batteries\u2019, there is no impact on the additional cost clearing account. The ultimate effect is that the vendor control account gets credited and the expensed additional cost account gets debited. The GL effect for the Additional Cost Invoice is as shown below:<\/p>\n

\"Untitled\"<\/p>\n

In this scenario, there is no impact on the additional cost clearing account. This setting option i.e. Create GL Entries for Expensed Additional cost<\/strong> lets you select when entries should be created for expensed additional cost either during GRN or at the time the Invoices are posted in Accounts Payable. You can select the best option out of the two that suits your business.<\/p>\n

Hope this helps!!<\/p>\n

Also Read:<\/strong>
\n1.<\/strong>\u00a0GL Account History Inquiry in Sage 300 ERP<\/a>
\n2.<\/strong>\u00a0Handling Additional Costs and its Variations in Sage 300 ERP<\/a>
\n3.<\/strong>\u00a0Handling Additional Costs and its Variations in Sage 300 ERP \u2013 II<\/a>
\n4<\/strong>.\u00a0Adding Additional Costs to Inventory When They Are Not Know At Time of Receipt in Accpac<\/a>
\n5.<\/strong>\u00a0Link General Ledger Entry to the Original Transaction<\/a>
\n <\/p>\n","protected":false},"excerpt":{"rendered":"

In the last blog, “GL Handling of Expensed Additional Cost \u2013 I”\u00a0we saw the GL impact of the Expensed Additional cost when the setup option Create GL Entries for Expensed Additional cost was checked. In this blog let us check in detail the effects when the same option is un-checked. New Stuff:\u00a0Tax Setting \u2013 Allow\u2026 Read More »<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[79,114,930,1078,2311,2357],"class_list":["post-8635","post","type-post","status-publish","format-standard","hentry","category-sage-accpac","tag-accpac","tag-additional-cost","tag-expense","tag-gl-impact-on-expense-additional-cost","tag-sage","tag-sage-300-erp"],"yoast_head":"\nGL Handling of Expensed Additional Cost \u2013 II - Sage 300 ERP \u2013 Tips, Tricks and Components<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.greytrix.com\/blogs\/sageaccpacerp\/2014\/09\/03\/gl-handling-of-expensed-additional-cost-ii\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GL Handling of Expensed Additional Cost \u2013 II - Sage 300 ERP \u2013 Tips, Tricks and Components\" \/>\n<meta property=\"og:description\" content=\"In the last blog, “GL Handling of Expensed Additional Cost \u2013 I”\u00a0we saw the GL impact of the Expensed Additional cost when the setup option Create GL Entries for Expensed Additional cost was checked. 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