How to set up Inventory Control posting accounts and product lines

All inventory items must be assigned to a product line in order to provide General Ledger posting account information. When Inventory data files are first created, Sage BusinessWorks automatically adds one product line, named Standard.

To create a new product line:

• Go to I/C, Utilities, Product Lines, Maintain
• Select New
• Enter a “Product line ID”
• Enter a "Description"
• Define the “Unit of measure”
• Select a “Sales account”
• Select the appropriate settings
• Define G/L posting accounts - this controls what General Ledger account a part is posted to
• Save

To simplify the reconciliation process for the IPR account, use the same IPR account for all product lines. If using Accounts Payable and now adding the Inventory Control module, be sure to change the G/L distribution account (in Maintain Vendors) for all inventory vendors to the Inventory Purchase Receiving account selected in Maintain Product Lines. This helps to prevent double-posting.

How do inventory and order entry transactions post to General Ledger