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  13. (Accounting) Receive fictitious items,...

(Accounting) Receive fictitious items, and items with no stock update, no landed costs and with cost type Standard cost

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The following describes the accounting transactions the system creates when the cost price is Standard cost and:

  • you receive fictitious items to stock. Fictitious items are items with the Fictitious item field set to YES in the Item file.
  • you receive items to stock with no stock update. These are items on a purchase order belonging to an order type with the Update stock on hand field set to NO in the Purchase order type table.

Prerequisites

Quantity received 125
Purchase price 25.35
Standard purchase price 25.00
Standard cost 25.00

Created transactions

Transaction type Description Amount
Debit		 Amount
Credit		 Calculation/Result/Additional info
903/917 “Stock value” fictitious items/”Stock value”, no stock update 3125.00  
Item standard cost * Received quantity

25.00 * 125 = 3125.00

This transaction increases the “Stock value” by multiplying the item standard cost by the received quantity.

Note: Normally you should account transaction types 903 and 917 on their own accounts and also on different accounts from transaction types 901, 902 and 904 in DC1 Financials as the stock value in DC1 Distribution is not updated for fictitious items and items on purchase orders with no stock update.
930 Reception from supplier   3168.75
Net purchase price * Received quantity

25.35 * 125 = 3168.75

This transaction is the purchase value that is normally accounted on a purchase account in DC1 Financials.
934 Purchase price difference/stored 43.75  
3168.79 – 3125 = 43.75

This transaction is the difference between the standard purchase price and the actual purchase value.
If no Standard purchase price exists (only valid for fictitious items that are purchased), the following transactions will be created. Note: If fictitious items are received on a purchase order with no stock update, then transaction type 917 is used.
903/917 “Stock value” fictitious items/”Stock value”, no stock update 0.00    
930 Reception from supplier   3168.75  
934 Purchase price difference/stored 3168.75   Tip: The 934 transaction for fictitious items could be accounted on the same account as transaction types 903 and 917 Fictitious/No stock update “stock values” in DC1 Financials. The Fictitious/No stock update “stock value” accounts can never be reconciled with the stock valuation list in DC1 Distribution, since DC1 Distribution does not consider fictitious items, or items received on purchase order with no stock update, as an ordinary stock. Therefore you can account transaction type 934 on the same account as the Fictitious/No stock update “stock value” in DC1 Financials.

Note: The 934 transaction type for normal items should be accounted on a separate account to that for fictitious items in DC1 Financials, to be able to reconcile this account with the stock valuation list in DC1 Distribution. See (Accounting) Receive goods without quality control, no landed costs and with cost type Standard cost.

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