The General Ledger (GL) and Stock Implications of using Works Orders/BOM’s in MYOB Exo

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(BOM’s) as a part of your business’ daily processes but the transactions don’t appear to be going to the general ledger and the stock information correctly? There are a number of places where things can breakdown if each step isn’t done correctly such as incorrect stock costings for the items which go into a BOM.

Once you know the steps and the sequence which they need to be completed in it can ensure that your businesses MYOB Exo gives you the right information every time. But it’s crucial to understand the way the system “thinks” and what you need to do each time to get it right.

In this video, we will review:

  • What happens to the general ledger at each stage in the BOM processes and when the transactions go through to the general ledger;
  • How each stage of the BOM process impacts on the stock details including movements in quantities and stock costings;
  • How the incorrect information goes to the general ledger and/or the stock details and how to avoid this happening every time; and
  • What should happen with BOM Kits from a general ledger and stock perspective and BOM Builds from a general ledger and stock perspective.

Through this video you don’t need to be an accountant to know the significance of the impact of the general ledger and stock movements but it is the only metric for you to know what you are doing is correct. When you go through the steps which give you the correct outcome you can ensure you are executing these steps every single time so you can get the most from the system.

By |2017-05-19T09:22:32+00:00May 19th, 2017|Videos|0 Comments

About the Author:

Brendan founded CFO Dynamics in 2010 with a vision for helping businesses maximise their financial performance by optimising their financial processes. This allows them make fully informed and superior business decisions. Better knowledge, information and processes can help businesses achieve their profit, cash flow and growth goals but also help them get through the tough times in business. Brendan’s great passion is to help people understand financial information and use it to their advantage (as you can see from all the videos on the website!) regardless of how much (or little) financial experience they have.

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