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TC-00101 : FIN - ITEM New Item Setup - Service Item for Purchase - Validate GL Accounts

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Process Area : Design to Build

Steps To Execute

Role: Kimray Cost Accountant, Kimray Cost Supervisor

Query up the Item in the Global Search and review the Purchasing, Accounting, and Preferences tabs.

Expected Results

1. GL Accounts are correctly set for:

Price Variance Account 510100
Quantity Variance Account 510105
Expense Account 130191 (For OM Service Items)

2. Can Be Fulfilled/Received setup is correct (checked for OM Service Items)

3. Generate Accruals is correct (checked for OM Service Items)

4. Tax Schedule is set as "Default Tax Schedule"

5. Item-Level Purchase Price is correct

Additional notes:
The Item Subtype governs the need for GL Accounts. A Service for Purchase will require an expense account. A Service for Sale will require an Income Account. A Service for Resale requires both Accounts.