Page Comparison

GST treatment for CONSIGNMENT SALES

...

Image RemovedImage Added

Image RemovedImage Added

Image RemovedImage Added

...

2.1 Control Panel > System Admin > EMP Configurations > Trading

 Account Payable Not Due GL Short Hand: Select: accPayableInTransit

Image Removed 

2.2 Control Panel > System Admin > EMP Configurations > Procurement > 

Supplier Consignment GL Short Hand > Select: suppConsignmentStock

Supplier Consignment Variance GL Short Hand > Select: consignmentStockVariance

Image RemovedImage AddedImage Added

3. Received Consignment Stock from Supplier

   Procurement >  Supplier Consignment > Create

Image RemovedImage Added

• the UI for this function is similar to Direct Receiving Stock (GRN)
• however, the document that will be created is called Supplier Consignment In (SCI). The tables involved are :
  • inv_consignment_index
  • inv_consignment_item
  • inv_stock
  • inv_stock_delta
  • acc_journal_transaction
  • acc_journal_entry

...

• sample JTXN @ RM 1000 + 6% GST

  	Debit	Credit
  suppConsignmentStock	1000		This GL is taken from EMP Configuration > Procurement > Supplier Consignment GL
  accPayableInTransit		1000	This GL is taken from EMP Configuration > Trading > Account Payable Not Due GL

  To view the Journal Entry: Accounting > Journal and Ledger > Jtxn Listing

  Image RemovedImage Added

   

4. Sold out and send statement to Supplier, Received Supplier Tax Invoice

...

• however, the document that will be created is SINV +  Supplier Consignment Convert (SCC)
  Image RemovedImage Added
  

• Changes sample JTXN (Let’s say supplier bills cheaper @ RM 900 + 6% GST)

• Supplier Consignment Convert (SCC)

  	Debit	Credit
  inventory	1000		This will follow the consigned in price
  suppConsignmentStock		1000	This will follow the consigned in price
  consignmentStockVariance		100	Difference btw consigned in price and actual billing price
  accPayableInTransit	100		consignmentVariance * -1

...

• GST will only be recorded for the SINV
  -| gst_Input| XXX | | This GL is taken from Input Tax Default GL Code for filling

Image RemovedImage Added

Image RemovedImage Added

5. Un-sales items, return back to supplier 

...

• Changes sample JTXN @ RM 1000

  	Debit	Credit
  suppConsignmentStock		1000	This will follow the consigned in price
  accPayableInTransit	1000		This will follow the consigned in price

   

  Image RemovedImage Added

  Image RemovedImage Added

  Image RemovedImage Added

   

6. Supplier Consignment Listing 

    Procurement > Supplier Consignment > History 

Image RemovedImage Added

7. Supplier Consignment Stock Balance

    Procurement > Supplier Consignment > Stock Balance

Image RemovedImage Added

8.  Supplier Consignment Stock Movement Report

    Procurement > Supplier Consignment > Reports > Consignment Stock Card Report

    Image RemovedImage Added

 9. To view particular date report (e.g Balance as at 31 March 2015)

     Procurement > Supplier Consignment > Reports > Supplier Stock Balance Historical ReportImage Removed

Image Added

consignment workflow.xls

issue reference: 

1. WMSSD-192