Activity
If you are new with this web log we request you to read preface first.
M) Procedure of delivery general goods of fixed Asset type to the requesting department or full filing the requests for Asset type of general goods
Trigger: When a request for general goods of fixed Asset type coming from a user is forwarded to a fixed asset location in main store.
Steps:
Steps to be done are same as steps for consumables described in procedure L. The only different point is as follows:
Note: When doing step 4 which is registering outgoing document, it is very necessary to enter the recipient of each good. Because fixed assets are not consumed during usage, but they are depreciated. Therefore, after delivery to user it is recorded as liability of user. Therefore account of the employee using it will be debited. It will remain as this by the time that fixed Asset is returned to store.
Note: In some of organizations, there are some roles (positions) for fixed Assets management in each department. It means when a fixed Asset is delivered to an employee in a department, from financial point of view, it is the fixed Asset manager of that department which has received the fixed Asset. In the other word, his account is debited and he is responsible to give it back or compensate.
N) Procedure of accounting entries generation for all inventory transactions.
Trigger: Whenever a transaction of any type happens in any warehouse
Steps:
There are no tasks to be done for any body over enterprise for running function of inventory accounting records generation because this function is automatically done once an inventory transaction of any type happens. The exact description of accounts, which will be affected as debit or credit, is coming in the next topic. We have to remember that correct generation of account entries needs some pre steps. These are described in the following as pre requirements and & necessities of procedure.
Procedures for running the function of process flow 4 which is concerned to finished goods warehouse.
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