Introduction to NCAS Inventory Module

The NCAS generates inventory accounting entries from the inventory transactions processed in the NCAS. This section provides an overview of the integration of the Purchasing, Accounts Payable, Inventory and General Ledger modules in the NCAS. This section also provides an overview of the NCAS inventory policies and introduces the basic inventory accounting entries generated by the NCAS.

Group Account Processing

A group account is a group or a series of accounting distributions defined for a particular set of items. When a transaction for that item occurs, the NCAS debits/credits the appropriate accounts within the group account. This section will demonstrate how to establish group accounts in the NCAS. This section will also explain how the system uses group accounts to generate inventory accounting entries from inventory transactions processed in the NCAS.

Accounting for Inventory Transactions

As inventory items are processed through the various modules of the NCAS (Purchasing, Accounts Payable and Inventory), accounting entries are generated to update the GL. This section provides a detailed explanation of the group accounting entries generated from inventory transactions.

Posting to General Ledger

The NCAS automatically generates accounting entries for inventory transactions which are posted to the General Ledger in batch at night. This section explains how the Financial Controller (FC) summarizes transaction information and uses accounting rules to post inventory accounting entries to the GL.

Analyzing Inventory Activity

This section provides an overview of the reports available in the NCAS to analyze inventory activity.

System Overview

This subsection explains how the NCAS Inventory module is integrated with other modules in the NCAS and how system policy affects inventory transactions.

NCAS Inventory Accounting Overview

This subsection explains the inventory allocation, valuation and budgeting policies that form the basis of inventory accounting in the NCAS. In addition, this subsection introduces the basic inventory accounting entries generated by the system.