Inventory evaluation information is recorded using the "New" option located in IFRS Inventory Evaluation Slip browser. Slip information is as below:
Slip Number | The tracking number of the slip. A mandatory field of 16 characters long. Alphanumeric characters can be used to enter the number. The slips are sorted by their numbers. |
Date | The record date of the transaction. The Slip Date field is mandatory. Slips are sorted by date. |
Time | Indicates the hour that the slip is recorded. |
Auxiliary Code | A secondary code field used to classify slips. Contains 10 characters. The Aux. Code allows the user to group the slips according to certain company specific criteria and to generate reports. The user can use this field to record any necessary information that is not included in the slip. |
Authorization Code | Used to define detailed authorizations. The string is 10 characters long. Each user may be authorized to use different records depending on job definitions. A planning process must be performed for detailed authorization definitions. First, slips to be accessed or processed by each user or user group should be specified. Then, separate authorization codes are assigned to slip types accessible by each authorization group. |
Organizational Unit | Indicates the organizational unit of the transaction. This field is used to associate the material transactions with one of the defined organizational units of the company. Defined organizational units are listed and the related unit is selected. |
Department | Activities or activity groups within an organization which are independent from each other in terms of organization and accounting. This field is used to associate the material transaction with one of the defined departments of the company. Recorded department definitions are listed and the related definition is selected. |
Warehouse Cost Group | The relevant cost group in which the Cost Inventory Evaluations will be performed is specified in this field. Different cost amounts incur for each warehouse cost group in input and output transactions. Therefore, warehouse cost group must be specified to perform evaluations and calculate the cost amount accurately. |
G/L Slip Type | All slips generated for the chart of accounts specified for the IFRS are listed, and the relevant slip type which is required to generate after the transaction is selected. The chart of accounts is specified in Administrator module for IFRS. G/L slip types are recorded using the System Settings module > Types > General Ledger > General Ledger Slip Types menu option. |
Material Line Details | Detailed information about the materials selected by Material filter options is entered in the following fields. |
Material Code | Indicates the code of the relevant material selected for the IFRS inventory evaluation transaction. This field opens the Materials browser to select the required record. |
Material Description | Indicates the description of the relevant material selected for the IFRS inventory evaluation transaction. This field opens the Materials browser to select the required record. |
Variant Code | Indicates the variant code in case that the material selected for the IFRS inventory evaluation transaction is configurable. After selecting the material, the required variants are selected. |
Variant Description | Indicates the variant description in case that the material selected for the IFRS inventory evaluation transaction is configurable. After selecting the material, the required variants are selected. |
Warehouse Cost Group | Indicates the Warehouse Cost Group which will apply for the transaction in line. |
Unit | Indicates the main unit of the material. |
Inventory Quantity | Indicates the inventory quantity on the last inventory date. |
Inventory Unit Price | Indicates the IFRS unit price in the local currency type of the material. |
Inventory Amount | Indicates the inventory amount calculated by multiplying the inventory quantity and the inventory unit price. |
User Defined Sales Price | Indicates the sales price information entered in the material record. It is recorded using the Sales Prices option located under the Attached Records menu of the Materials browser. If there are multiple sales prices defined for a material records, the main sales prices corresponding to the inventory date is transferred to this field. |
Last Sales Price | Indicates the sales price information specified in the sales slip (dispatch, invoice) generated for the last sales transaction of the material. |
FIFO Cost | Indicates the IFRS FIFO cost information on the inventory date. |
LIFO Cost | Indicates the IFRS LIFO cost information on the inventory date. |
User Defined Cost | Material's unit cost is entered manually in this field. |
Evaluation Amount | Indicates the evaluation amount calculated by multiplying the cost amount and inventory quantity which will be used in IFRS inventory evaluation transaction. |
Loss of Value | Indicates the negative difference between the inventory evaluation amount and the inventory amount. |
Value Increase | Indicates the positive difference between the inventory evaluation amount and the inventory amount. |
Select Cost Method | The cost method selected here is used to calculate inventory evaluation amount. |
User Defined Sales Price | Evaluation amount is calculated by multiplying the defined sales price with the inventory quantity. |
Last Sales Price | Evaluation amount is calculated by multiplying the last sales price with the inventory quantity. |
FIFO Cost | Evaluation amount is calculated by multiplying the FIFO cost with the inventory quantity. |
LIFO Cost | Evaluation amount is calculated by multiplying the LIFO ost with the inventory quantity. |
User Defined Cost | Evaluation amount is calculated by multiplying the User Defined Cost amount (entered in the material line) with the inventory quantity. |
Total (LC) | |
|---|---|
Loss of Value | Displays the total IFRS value decrease in the material line in local currency type. |
Value Increase | Displays the total IFRS value increase in the material line in local currency type. |
Material Filters
The Materials option is used to set the required criteria to select materials for the IFRS inventory evaluation slips. It is located at the bottom of the slip window. The filter options are:
Filter | Value |
|---|---|
Material Status | All / Active / Inactive |
Material Type | Commercial Good / Deposit Item / Asset / Raw Material / Semi Finished Good / Finished Good / Consumer Good |
Material Code | Group / Range |
Material Description | Group / Range |
Material Auxiliary Code | Group / Range |
Material Authorization Code | Group / Range |
Material Group Code | Group / Range |
Material AR/AP Code | Group / Range |
Material AR/AP Description | Group / Range |
Customer / Supplier Code | Group / Range |
Customer / Supplier Description | Group / Range |
Parent Material Class Code | Group / Range |
Parent Material Class Description | Group / Range |
Parent Material Class Aux. Code | Group / Range |
Parent Material Class Auth Code | Group / Range |
Parent Material Class Group Code | Group / Range |
Configurable | Yes / No |
Variant Code | Group / Range |
Variant Description | Group / Range |
Variant Aux. Code | Group / Range |
Variant Auth. Code | Group / Range |
Inventory Quantity | Group / Range |
After specifying the required criteria in filter lines, click the "Apply" button, and the relevant materials will be transferred to the slip lines.
Update Material Info
This option is used to refresh materials selected in IFRS inventory evaluation slip to calculate the current cost according to the inventory date. It is located under the Operations menu at the bottom of the slip window.