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Material Accounting under New ERP systems

Please find the status template for costing attached to this email. As per this template documented by KPMG, the following are completed end to end:



Ø PO/L/C: Opened; what is the position of in-transit/Liability A/c in GL?

Ø Materials Arrived & Received; what is the position of Inventory/GL/Liability A/c

Ø Materials Tested & Un/Released; What is position of inventory?

Ø Untested Materials Issued to Production; What is position of material inventory/WIP?

Ø Tested Materials Issued to Production; What is position of material inventory/WIP?

Ø Untested Materials Rec/Issued to Toll companies

Ø Tested Materials Rec/Issued to to Toll companies

Ø Untested Materials Received by/from Other plants-IDTM

Ø Tested Materials Received by/from Other plants-IDTM

Ø Materials In-transit Status after/before L/C Opened

Ø Materials are returned from production floor: Materials Stock position? WIP position?

Ø Materials procured by means of Advance; position of Prepaid A/c in GL/SLA?

The following are attempted:

Ø  Untested Materials Issued to Other plants/subsidiaries/External companies; What is position of material inventory/WIP/Party A/c?
Ø  Tested Materials Issued to Other plants/subsidiaries/External companies; What is position of material inventory/WIP/Party A/c?
Ø  Materials Intransit Status after/before Release of Materials
Ø  Position of Stock balances after/before Release Materials
Ø  Materials procured on credit; position of Liability A/c in GL/SLA?

Please confirm the same so that I can update the consolidated status list for Finance by end of day today. If you have any observation/ query, please call me.
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