These values include the inventory value, cost of goods sold, inventory in transit, and all kinds of variance. Currency – Select the costing currency that inventory-related values are maintained in.Global Inventory Accounting supports inventory accounting in multiple currencies and in multiple valuations. In Global Inventory Accounting, users can define as many costing ledgers as they require. The currency that you select can differ from the currency that the legal entity uses. For each ledger, set the following fields:ĭescription – Enter a description of the ledger.įiscal calendar – Specify the fiscal calendar for the ledger.Ĭurrency and exchange rate type – Use the fields on this FastTab to select the accounting currency that the ledger uses, and the exchange rate type. To set up your Global Inventory Accounting ledgers, go to Global inventory accounting > Setup > Global inventory accounting ledgers. A Global Inventory Accounting ledger is defined by its combination of a currency, a calendar, a convention, and an association with a legal entity. These measures are classified by using cost elements and subledger accounts. Each time an inventory-related transaction is processed for a relevant legal entity, the system can account for that transaction in any number of Global Inventory Accounting ledgers, as required.Ī ledger is a register of debit and credit measures. Global Inventory Accounting has its own set of ledgers. For more information about preview releases, see One version service updates FAQ. The content and the functionality are subject to change. Some or all of the functionality noted in this article is available as part of a preview release.

Multiledger accoounting