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GL Transactions

These transactions update to the GL when a kitset parent make-to-stock transaction is processed (based on one unit processed - transaction values will be multiplied by the transaction quantity required):

Components issued at cost

[Debit] Kitset Parent Inventory Account$ Sum of component costs + non-stock value if applicable *
[Credit] Component Inventory Accounts$ Component cost
[Credit] Non-Stock Sales Account *$ Value of non-stock item

* Only applicable if a non-stock line type is one of the kitset components.

Components issued at selling price

[Debit] Kitset Parent Inventory Account$ Selling price of component items, based on pricing method

         + non-stock value if applicable *

[Credit] Component Inventory Accounts$ Component cost
[Credit] Kitset Variance Account$ Difference between component sell price & cost
[Credit] Non-Stock Sales Account *$ Value of non-stock item

* Only applicable if a non-stock line type is one of the kitset components.

The Kitset Variance Account is specified in General Ledger Module Control/Integration/Distribution Modules.

Information

All transactions will be posted into the accounting period for the Posting Date entered in the Kitset Parent Make-to-Stock form.