00:00Hello friends, welcome to my channel, I am Financial Madhvi, and as you can see on the
00:11screen, the item journal page is open and normally you all know the use of item journal.
00:19So the purpose of today's video is that when you create an item journal and when you create
00:28a line on the document, when you choose a posting date, when you choose an entry type,
00:38when you choose a document number, item number and locations and quantity, if you create
00:44all these things on the system and before posting the document, you want to know how
00:53the entries are being created, after posting on which ledgers it will be posted, we can
00:59see the entry before posting it, so what you should do is, click on the small drop down
01:07box on the side of the post button, see related actions for post, and you have to click on
01:14preview posting instead of post, review the different types of entries that will be created
01:20when you post the document or journal, shortcut is ctrl-alt-f9 and it is not posting the document,
01:27it will first preview the entries that are going on these tables, related entries will
01:33be created, jail entry will go on the table, two entries will go, means you will get two
01:39lines, one debit and one credit, item ledger entries will be single line and value ledger
01:46entries will be single line, value ledger entries will represent the value of the item
01:53ledger entries, item ledger entries and value ledger entries, if you have a positive adjustment,
02:00then like a receiving document, physical entry, item ledger entry quantity and value entry
02:10will represent the value of the item ledger entry, but the jail entry will hit the item
02:17hit in the ledger, so let's check the jail first, now like item adjustment, the laser
02:26that is made, you can see it because it is coming on the highlighted screen, once you
02:32click above, you will see the laser on the first line, positive adjustment means that
02:38we are not using sales order, purchase order, we are just updating the stock on our system
02:47using the item journal and if my stock is updated, then which laser will it hit, so
02:55the stock inventory item will have a value, what will be those values, how much quantity
03:02will be there and quantity into rate equal to value will be generated, so seeing all these
03:07prospects, a client will create a jail entry and the laser number of the jail entry, see
03:14through the system setup, it will be installed on the inventory posting setup, it is going
03:19to the group of finished goods in your balance sheet and laser number is 2110, you can go
03:26from here by clicking and it is generating its cost, its debit amount and its credit
03:33amount, the line that is being made for the credit amount system, the credit amount is
03:39going to the inventory adjustment ledger, that is, the finished goods are getting debited
03:45and what is getting credited, inventory adjustment journal, so the positive adjustment that we
03:53use is to update any stock on the system without using any received document, which
04:01you create an order by creating a purchase order, so if you note the goods received,
04:08then data comes on your system, the correct process is that you raise a purchase order,
04:13you make a purchase receipt document, the stock is updated on the system, but if you
04:20had any stock closing and you are bringing freshness in your system, then by using the
04:27item journal, you are updating the closing stock in the system as an opening stock or
04:34if you are updating a stock on a particular location, then what you can do is by using
04:41positive adjustment, you can post this entry, it will hit your two lasers, like I chose
04:47the finished goods, so it is going to the group of finished goods and the second laser
04:52is the credit laser, that is of inventory adjustment, so positive adjustment means increase
04:59inventory item in your stock, so in this way you can increase the stock item in your system
05:11with the quantity and the value, so to check the quantity, you have to check the item laser
05:17entry, the status of the physical quantity update is carried by ILE, it is 10 quantity,
05:25invoice will also be the same quantity, okay, and after that actual value, actual value
05:34because it is directly hitting the GL entries, it will actually update your stock value, so
05:41you always have to check the cost amount actual, that is, its value will be posted in GL entry
05:48and it is carrying this value, quantity comes in ILE and is carried and in the value entry
05:56based on the quantity of ILE, the value that is made by multiplying with its rate, that
06:03value is updated on value entries, see item laser entry type positive adjustment, that
06:11is, value laser entry is connected to your item laser entry and carrying the reference
06:18value, taking the quantity of that item, multiplying it with its direct unit cost,
06:25it creates an actual cost amount, due to which it is called value entry, so value entry is
06:33done, its name is perfect and this value entry is running with the value of 10 quantity,
06:40plus one quantity, which is per unit cost, that is, the value represented here is 1448
06:48and whatever you have taken in decimal prices, you can take it on general laser setup and
06:54in this way, while carrying it, this value will update, ILE base will be of value entry
07:03and value entry base will be made for GL entry, so in GL entry you will get those values,
07:10which you see in the actual amount while carrying the value entry, in this way it creates these
07:17values, plus in which laser it will go, it depends on your setup and item card, which
07:25item card you have taken, how you have designed the setup and posting preview, which
07:32is going to hit on this table, after checking this, what we will do, after checking this,
07:37we can post this entry, as soon as you post, you can also post and print, you will get
07:44print, as soon as you post, these entries will be posted at those places, whose preview
07:50we have just checked, so I am not posting, I am just showing you the preview, that after
07:55posting on these tables, values will be hit, so you post and check,
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