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Inventory Asset Account Maps

Distributor steps for creating Inventory Asset Account Maps in Encompass to set which GL accounts record inventory, freight, tax, other cost accruals and deposits on purchases and sales. Requires v22.01+.

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Written by Bailey Naas-Thornton

Minimum Version Required: 22.01

Pre-Conditions

  • Accounts must already be created on the Accounts table.

Steps

The purpose of Inventory Asset Account Maps in Encompass is to define the general ledger accounts that will be used when inventory is received and when inventory is sold.
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​How to create an Inventory Asset Account Map
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  1. Navigate to the Inventory Asset Account Maps table using the universal search bar.
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  2. Select the 'Add Inventory Asset Account Map' button.
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  3. Select the Company, Location, Inventory Asset Account, Freight Accrual Account, Tax Accrual Account, Other Cost Accrual Account, and Deposit Asset Account.
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  4. To narrow the impact of the mapping, select a Product Type, Supplier or Product.
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  5. Click Add Record when all required fields are filled in.

Fields And Definitions

  • *Company - Company associated with the products that will be received using the map.
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  • Location - Location of the mapping associated with a single warehouse Location. This field is typically populated but not required.
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  • Inventory Asset Account - This is where the laid-in cost of the beer is recorded
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  • Freight Accrual Account - Allows users to set an estimated freight for products or vendors, this will increase the laid-in cost and accrue in this account
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  • Tax Accrual Account - Once the tax has been set up, it will accrue in this account to be reduced when paying the state
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  • Other Cost Accrual Account - Any other additional costs in a purchase will be recorded in this account
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  • Deposit Asset Account - This is where the laid-in cost of the keg or container holding the beer is recorded

Transaction Source: Invoices and Purchases
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​Determining Factors:
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  • Company
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  • Location

  • Product Type

  • Supplier

  • Product

Best Practices

  • When creating an Inventory Asset Account Map, you can only set one of the following filters: Product, Supplier, Supplier & Product Type combination, or Product Type.
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  • If the Product, Supplier, and Product Type fields are left blank, the mapping serves as a catch-all for the selected Company and Location.
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Tip: When troubleshooting why an invoice or purchase hit a certain Inventory Asset Account Map, check to see if a new Product Type was added recently.

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