Hi Abdullah Thanks for an easily understandable vidoe. In my company we are using standard price and then we adjust the price according to ourput of MRF1 at the end of the month. MRF1 is showing stock balances at standard price and stock balance at FIFO price all split into different G/L accounts according to valuation class. We post an FB50 posting for the FIFO correction. I have 2 questions: -Is it not possible to make MRF1 make the FIFO correction posting automatically (replacing FB50) ? - Is it possible to make MRF1 post FIFO correction by material number instead of by account? Looking forward for Your feedback here. Kim
Hi, thanks for your video. Only with the reference to the month end adjustment I was wondering whether it is supposed to be created an accounting document to increase the stock value by 20 and crediting.. which account? Also, is there any impact on cogs? I would assume so either adjusting directly cogs or a price difference account . Thanks In advance
Thanks a lot you are amazing, i need to understand if the first 5 pcs will issue at 10 usd and the remaining 1 pc will issue at 15 then the diff should be 15 usd not 20 and total value 75 not 80 , please clear it for me with many thanks
Hi Abdullah, excellent video, I tried creating a similar scenario. However, the change in material doc, after mrf1 execution, is not generated, obyc settings are all in place. Also, you used two different fifo methods in mrf1 and mrf3. Is there any particular reason?
Awesome, thanks for sharing this video Abdullah The document generated in this process can be found in transaction MR51 document type (PR: Price Change).
Hi Abdullah, great video. Thank you for explaining things so clearly. Please can you tell me how I can get access to a test/demo environment, similar to the one you are using? Do you need to have a license?
Hi Mearah, You can buy access online from multiple providers. I tried many of them. There's a good access available for a reasonable price: 3 months at $120, you can contact this skype account for details join.skype.com/invite/unlIfGXhuf9m The other one I'm using is very expensive at $100 per month for a public server too, very expensive but I must have a backup server to never delay the weekly video
Hi Abdullah, Very good explanation on FIFO costing, may I ask question here, what is the accounting posting? do you have plan to make video to show system configuration for FIFO costing. Thank you.
Very nice explanation abdallah, I tried to test same scenario in my system, however, system isn't generating the ML revalaution document which is shown in CKM3. I'm able to see differences only in MRF1. what could be the missing plz help?
@@AbdullahGalal Hi Abdallah, I have another question. Is LIFO method can be used in companies in Middle East?. As I know as per IFRS, LIFO is not acceptable.
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Hi Abdullah
Thanks for an easily understandable vidoe.
In my company we are using standard price and then we adjust the price according to ourput of MRF1 at the end of the month.
MRF1 is showing stock balances at standard price and stock balance at FIFO price all split into different G/L accounts according to valuation class.
We post an FB50 posting for the FIFO correction.
I have 2 questions:
-Is it not possible to make MRF1 make the FIFO correction posting automatically (replacing FB50) ?
- Is it possible to make MRF1 post FIFO correction by material number instead of by account?
Looking forward for Your feedback here.
Kim
Hi, thanks for your video. Only with the reference to the month end adjustment I was wondering whether it is supposed to be created an accounting document to increase the stock value by 20 and crediting.. which account? Also, is there any impact on cogs? I would assume so either adjusting directly cogs or a price difference account . Thanks In advance
You are awesome tutor Abdullah, thanks for sharing your knowledge.
My pleasure
Thanks a lot you are amazing, i need to understand if the first 5 pcs will issue at 10 usd and the remaining 1 pc will issue at 15 then the diff should be 15 usd not 20 and total value 75 not 80 , please clear it for me with many thanks
Hi Abdullah, excellent video, I tried creating a similar scenario. However, the change in material doc, after mrf1 execution, is not generated, obyc settings are all in place. Also, you used two different fifo methods in mrf1 and mrf3. Is there any particular reason?
Hello Abdul...Very nice explanation....do we have option to calculate or revaluate cogs with fifo prices?
Hi Abdullah,
In the MRF1 tcode, there is an input field as FIFO METHOD, can you explain it please?
Regards
*Helpful* @Abdullah
Looking forward for new knowledgeable video
As i have been following you in Linkedin
Thank you
Awesome, thanks for sharing this video Abdullah
The document generated in this process can be found in transaction MR51 document type (PR: Price Change).
Thank you Almiro for the note
@@AbdullahGalal you are welcome.
Hi Abdullah, great video. Thank you for explaining things so clearly. Please can you tell me how I can get access to a test/demo environment, similar to the one you are using? Do you need to have a license?
Hi Mearah, You can buy access online from multiple providers. I tried many of them.
There's a good access available for a reasonable price: 3 months at $120, you can contact this skype account for details join.skype.com/invite/unlIfGXhuf9m
The other one I'm using is very expensive at $100 per month for a public server too, very expensive but I must have a backup server to never delay the weekly video
Hi Abdullah, Very good explanation on FIFO costing, may I ask question here, what is the accounting posting? do you have plan to make video to show system configuration for FIFO costing. Thank you.
Hi Suri,
The financial entry will be to the inventory and price difference, these accounts are determined through the keys BSX and UMB
Hi, Very helpfull and clear information, May I ask what and when is the business case for carrying out this process? Thank you
Welcome.
When the accouting manager asks for it! some do and some don't
Hi . Very nice video. Can you please also share the configuration steps for balance sheet valuation method FIFO
Hi, will do my best
Awesome man ! you are doing great
Thanks a ton
Excellent 👍
Please can you make more video e.g on inventory and accounting impact. And reporting of inventory to FI
I did a full playlist on FI/MM integration that explained inventory impact on FI, check it!
you are just fantastic
thank you!
Great
thanks
Very nice explanation abdallah,
I tried to test same scenario in my system, however, system isn't generating the ML revalaution document which is shown in CKM3. I'm able to see differences only in MRF1. what could be the missing plz help?
Hi Mohamed, it's impossible to help like this, there can be many reasons
@@AbdullahGalal Hi Abdallah, I have another question. Is LIFO method can be used in companies in Middle East?. As I know as per IFRS, LIFO is not acceptable.
Amazing Demo.
Thank you for your comment
Why system showing both price in material master I.e moving average price and standard price can you please explain?
Standard system behavior, but only one of them will impact the accounting entries
Hi
Could you please show the FIFO configuration as well please
Will do my best :)
Hi Abdullah,
When I did adopt the PO But My Qnty is lock so that post has to be rejected so how can I rectify that.
Hi Balmukund, sorry I didn't get the question