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Valuation GL Process
Valuation GL Process  compares LinkPOS and Financial Valuation. GL Valuation also creates a Journal with the difference  that can be posted to the financials to balance the GL accounts.

Steps to run GL Valuation:

  1. Enable "POS013".Review POS Processes for the functionality of the processes.
  2. Create a "New Entry" on the GL Valuation Page
    1. "Batch ID"  is system generated.
    2. "User Created" is the user who has created the batch. This is system populated.
    3. "Date Created" is the date on which the batch was created. This is system populated.
    4. "Period End Date"  users need to select the Period for valuation. Period End date should be the last day of the month.
    5. "Status" will be automatically updated with the valuation process
      1. "New" status indicates that the entry is new.
      2.  "Invalid" status indicates that there are error with data validation. Click on the "Grey Triangle"  to expand into the details to view the notes.
      3. "Complete" status indicates that GL Valuation has been successfully completed.
    6. "Recalculate", users can recalculate the GL amounts after new transactions.
      1. To recalculate a batch, edit the batch, tick the "Recalculate" option and save.
    7. "Create Journal",  users are required to check "create journal"  which will post the journals into the Financial. It is recommended to post journals after all verifications. Once journal has been posted it can not be recalculated.
      1. To post a journal, edit the batch, tick the "Create Journal" option and save.
    8. "Count" displays the number of items in the valuation list.
    9. "Total Value" states the total difference in Financial and LINK valuation.
  3. Click on the "View" link to see GL valuation entries
    1. The details will show the difference in Financial  and LINK Valuations.
    2. Contain a journal with the difference.
    3. Valuation for each item with respect to its Cost of Golds sold accounts.

Notes:

  1. Users must pots transactions in the financial database before running the period valuation.
  2. Validation will check for any unposted adjustments, purchase received in LINKSOFT for the period.
  3. A user can choose to run the valuation for a period multiple times provided prior valuations are closed.
  4. A user can initiate a valuation by month as long as the period is open in the financial database.