On the ribbon, go to Tools > Setups > Accounting.
Every stock record in your Jim2 database is assigned to a stock GL group. Stock GL groups are the mechanism that Jim2 uses to record all transactions relating to each and every piece of stock.
For example, when you purchase stock on a PO, once the status of the PO is set to Finish, the value of the stock on that PO will automatically flow to the SOH (stock on hand) asset account assigned to the stock GL group the stock belongs to. Similarly, when you sell that stock, the SOH account will reduce by the amount of the stock sold, the COGS (cost of goods sold) account will increase by that amount, and the income account will record income received for that stock.
There are two main types of stock GL groups:
1.Depleting, Special
2.Non Depleting, Labour, Applies.
These directly relate to the types of stock that can use a particular stock GL group.
You can use the Depleting and Special stock GL groups for all stock types, but the Non Depleting, Labour and Applies stock GL groups can only be used for those types of stock (not for depleting or special). This stops a user setting up a GL group for non depleting stock with no purchase account, then attaching it to a depleting and/or special type stock. It also negates the need to set up twice if required for depleting and non depleting stock types. You can set up a depleting/special stock GL group and attach that to depleting, special, non-depleting, labour and/or applies types of stock.
Examples
1.Depleting and Special stock GL groups
Stock GL Group Name |
Stock Group Type |
Purchase GL Acc |
Cost of Goods GL Acc |
Income GL Acc |
|---|---|---|---|---|
Hardware |
Depleting &/or Special |
11310 |
51110 |
41110 |
Software |
Depleting &/or Special |
11320 |
51120 |
41120 |
Depleting and Special stock GL groups use all three fields. |
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2.Non Depleting, Labour and Applies stock GL groups
Stock GL Group Name |
Stock Group Type |
Purchase GL Acc |
Cost of Goods GL Acc |
Income GL Acc |
|---|---|---|---|---|
Cleaning Fluid |
Non Depleting |
|
51130 |
41130 |
Onsite Labour |
Labour |
41140 |
||
Virus Checks |
Applies |
41150 |
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Non Depleting stock GL groups use only the COGS and Income fields. Labour and Applies use only Income fields. |
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Add or edit a stock GL group by clicking Add or Edit.
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You will not be able to edit a stock GL group once it is added to stock which has any transactions. Nor will you be able to delete a stock GL group once it is attached to a stock record. |
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When adding a new stock GL group, you cannot select a COGS account that has been set up as an Expense PO account. You must select a COGS account that is either a Control account or a Detail account. You can add a new COGS GL account if a suitable one is not available to choose from. |
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Most details of the stock GL group assigned to a stock code cannot be changed once there are transactions recorded against that stock. The exception is the group name itself, which can be changed. |
Further information: