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Inflation accounting (correction) is the correction of financial statements that cannot express the real situation due to changes in the purchasing power of money, in order to make them express the real situation. There are adjustments and definitions that need to be made before the Inflation Accounting business function can be used.

Chart of Accounts

Path: ERP > Finance Accounting > Accounting Definitions > Chart of Accounts

Before creating a new account, the account codes to be edited are entered in the "Inflation Adjusted Account Codes" field in the xml. The following account codes come as standard and can be updated or updated later. can be changed.
110,150,151,152,153,157,158,159,170,180,240,241,242,244,245,247,251,252,253,254,255,257,258,259,2 60,261,262,263,264,268,271,272,278,280,294,340,350,380,440,480,500,502,503,520,521,540,541,542,549
Account In the Type field, one of the options of Monetary, Non-Monetary (+), Non-Monetary (-) is selected for inflation adjustment transactions. The account type field depends on the account codes specified in the xml.
For example; When you type 110 in the account code field, the account type selection will appear, when you type 100, the account type field will not appear.

Account Type Transfer

Path: Control Panel > System > Utility > Account Type Transfer

For inflation adjustment transactions, accounting accounts must have account type (Monetary, Non-monetary (+), Non-monetary (-)). Depending on the account types selected here, the relevant account will be subject to inflation regulations. Instead of updating each accounting account one by one, account types are updated collectively on the account type transfer page. If there are accounts included here but not in the chart of accounts, these accounts must be defined first.

Attention! The calculations included here come as standard.

Index Definitions

Path:Control Panel > System > Parameters > Index Definitions

To enter inflation index correction coefficients First, "Index Definitions" should be made. Definitions to be used such as WPI, CPI, Inflation Rate are made. After these definitions are made, the Inflation Index Definitions screen will appear.

Inflation Index Definitions

Path: ERP > Finance Accounting > Accounting Transactions > Inflation Index Definitions

The values written in inflation index definitions are included in the formulas of stocks, fixed assets and accounting. Therefore, these definitions must be made first for inflation adjustments.
Inflation index definitions should be made according to each year and month. Definitions can be made individually or collectively via the + button. The file prepared with data transfer can also be imported. Years and months should be written in the file, and dots should be used as separator for amounts.

Product Accounting Codes

Path:ERP > Sales-Distribution > Product and Stocks > Products > Product Detail

Path: Control Panel > System > Parameters > Accounting Budget Code Groups

In the Accounting and Budget Codes field in the product detail, "Inflation Adjustment Account" is defined.
If the Accounting Budget Code Group is used in the products, definition can also be made from the Accounting Budget Code Group.
Inflation accounting code can be assigned to products collectively with the Select Bulk Accounting Code under the Utility.

Transaction Categories

Path: Control Panel > BPM > Transaction Categories

Transaction type of Inflation Adjustment transactions should be added. Process type "Process ID: 15". Authorizations must be given to users who will see the transaction type and perform the transaction.
For inflation accounting records, "accounting transaction" and for inflation stock records, "cost transaction" boxes must be checked.

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About Workcube Objects

Account Type Transfer

It is used for mass updating of account types (Monetary, Non-Monetary (+), Non-Monetary (-)) in the charts of accounts for inflation adjustment transactions.

Type: Utility Version: Lean v1 Licence: Standard Author: Workcube Core