SIMS and SFM Interface Posting

SIMS and SFM Interface Posting

The following table identifies the accounting entries posted in the Shireburn Financial Manager from transaction in the Shireburn Management Inventory System.

The link from the inventory to the accounting system is available from the stock group or where applicable from the location code. Further details will be available before implementation of both systems.

While the system will post sales invoices and purchase invoices individually, the entries for cost of sales, adjustments, and WIP values the system will group together by the stock group (or location) on a daily basis.

Transaction Type
Debit
Credit
Invoice and Credit Notes – Sales Value
Client Account
Sales Account
Invoice and Credit Notes – Cost of Sales
Cost of Sales Account
Stock Control
Cash Sales/Return
Cash Account
Sales Account
Cash Sales/Return – Cost of Sales
Cost of Sales Account
Stock Control
Purchases (Local/Foreign)
Stock Control
Supplier’s Account
Adjustment Add
Stock Control
Stock Adjustment Account
Adjustment Deduct
Stock Adjustment Deduct
Stock Control
Issues to WIP
WIP Account
Stock Control
Returns from WIP
Stock Control
WIP Account
Receipt of Finished Goods
Stock Control
Finished Goods Values
Returns of Finished Good to Production
Finished Goods Value
Stock Control


The above interface will not require the opening stock, purchases and closings stock accounts, as the system will post of the cost of sales, adjustment, and WIP cost accounting on a daily basis.

With the above interface the cost of sales and production costs, etc are available on the trail balance for analysis immediately.

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