Transferring items
To transfer an item, click Select Items for Transfer.
Primary transaction
When the document status changes to COMPLETE, a transaction of ISSUETYPE = TRANSFER is written to the MATRECTRANS table.
Example
Transfer 20 bearings at $0.50 (issue cost) from the central storeroom to the packaging storeroom.
Source GL account | Debit | Credit | Source of GL account |
---|---|---|---|
|
20 x $0.50 = $10.00 |
20 x $0.50 = $10.00 |
Inventory control account of source storeroom. If in response to an internal purchase order, comes from purchase order line general ledger credit account |
If you capitalize the item and it exists in the destination, the default for both the debit and credit accounts is the capital GL account, and the line cost is zero.
If you capitalize the item and your company is stocking it in the destination for the first time, the debit account for the transfer is the inventory control account of the destination. The credit account is the capital GL account.
Transferring a capitalized item to a new inventory location inserts the item as capitalized into the new inventory location. The control account for the item in that new inventory location is the inventory control account, not the capital GL account.
Example
You transfer 20 bearings into the central storeroom at $0.50 each (primary transaction), but the standard cost of the bearings in the central storeroom is $0.45 each. Your company uses the standard cost.
If the item is capitalized, the default credit account is the capital GL account. Also, because the standard cost of a capitalized item is zero, the line cost for the standard receipt adjustment transaction equals the receipt price of the item.
Source GL account | Debit | Credit | Source of GL account |
---|---|---|---|
Inventory control account of supplying storeroom |
($0.50 -$0.45) x 20 = $1.00 |
($0.50 -$0.45) x 20 = $1.00 |
Inventory control account for destination storeroom |
All cost entries and calculations are performed in the base currency.