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Старый 16.07.2016, 09:40   #1  
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dynamicsax-fico: Parallel accounting according to the “Cost of Sales” and “Nature of Expense” accounting method (5)
Источник: https://dynamicsax-fico.com/2016/07/...ting-method-5/
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C.6. Sale of goods
Within the last part of this series on the COS & NOE accounting method, the item that has been produced before will be sold for 1000 EUR / pcs through a standard customer sales order shown in the next screen-print.


The first sales order related voucher is created when the sales order packing slip is posted. In the example used, Dynamics AX created the following voucher:

As only Balance Sheet accounts are addressed, no influence on the company’s Income Statements can be identified and as a result, no difference between the COS and NOE method arises.

The next and final posting step in my example is related to the sales order invoice. The voucher created when posting the invoice is shown in the next screen-print.



For reasons of clarity and traceability, the vouchers created when posting the sales order packing slip and sales order invoice, have been summarized in the next illustration.

  • Similar to the previous chapters, all transactions that offset each other have been highlighted in grey color. In the example used, the packing slip voucher is reversed with the posting of the sales order invoice.
  • All accounts highlighted in green color represent Balance Sheet accounts that debit a receivable account and credit the inventory account that traces the stock reduction due to the sale of the finished item.
  • The first yellow highlighted Income Statement account no. 40500 records the sales revenue of 1000 EUR. This transaction is self-explanatory. The posting on the second Income Statement account no. 50500 on the other hand requires some explanation, as it is used and interpreted differently from a COS and NOE accounting perspective. That is, from a COS perspective the amount recorded on ledger account no. 50500 is included in the cost of sales section and directly influences (reduces) a company’s profit. The reduction in a company’s profit does also occur when the NOE method is applied. Yet, for the NOE method this account represents a stock variation account and consequently needs to be included in the stock variation section of the company’s income statement.
The following financial statements summarize the sales order related transactions resulting from the sales order invoice posting.




D. Summary
Within this series on the COS and NOE accounting method I demonstrated that Dynamics AX can be setup in a way to generate financial statements that follow both accounting methods in parallel. This also holds for situations where other inventory valuation principles, such as standard costs, moving average costs, etc. are used.

Irrespective of those valuation principles and differences thereof, the key to a successful parallel implementation of both principles is a “correct” setup of your chart of accounts and related account structures.




Filed under: Accounts Payable, Accounts Receivable, Fixed Assets, General Ledger, Inventory Tagged: Cost of Sales Method, Nature of Expense Method, Posting setup, Profit & Loss Statement

Источник: https://dynamicsax-fico.com/2016/07/...ting-method-5/
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