Material Transfer is an add-on to the General Ledger module. The Material Transfer system is designed to move inventory material from the inventory account to a lease; from lease to lease; or from a lease back to inventory. Additionally, the system allows you to make miscellaneous charges to leases for items such as trucking, roustabout, set up time, etc. These items are charged to the lease and also to a company income or expense account.
Company level options must be setup in General Ledger > Master Files Maintenance > Company > Material Transfer System once the add-on module is obtained.
Each inventory item is set up in Sub-Account maintenance.
Material Transfer:
To make a Material Transfer, go to General Ledger > Automatic Entries > Material Transfer. Enter the top part of the form specifying the from and to information.
The next screen (Detail screen- located by clicking on the Detail button at the bottom of the Material transfer screen), allows you to enter the part and cost transaction information. Enter the part # and the quantity to transfer as well as applicable account number. Account numbers need to be entered to proceed with the material transfer.
Once you have entered all the parts to transfer, click on the menu button to go back to screen 1. Note that the parts to transfer are now on the bottom part of the screen.
TECH TIP: The Viewing Only Current User/ Viewing All Users button will allow for all material transfers to be seen regardless of who entered them or restrict the view to material transfers entered under the User ID currently logged in.
Once you have verified that the information is correct, click on the Update button to record the entry in Pak Accounting. The entries will be in #10-Manual Entries to be reviewed and posted.
Material Transfer Example
Accounts Payable Interaction
The following will provide an example of how to enter inventory that is ordered into Pak Accounting and subsequently perform a material transfer.
Inventory was received from Lone Star Gas. The invoice is entered into accounts payable and coded to the Inventory Transfer account (Account 1410). Notice that quantities are entered by clicking on the “Show Qty” button located in the bottom right-hand corner of the screen.
Update the invoice as normal. The entries made are below:
The material transfer can now be made as normal. For example, eight units of F100 were transferred to lease LA01.
Update the transfer and then update the entries from the General Ledger module, #10-Entries. After the entries are posted, they can be viewed through View Trend (F4).
