Transaction Journal

Report Module Guide: Production Transaction Journal

Module Location

Production > Transaction Journal

Module Objective

The Transaction Journal module within the Production menu is the reporting center for viewing all accounting journal entries that specifically originate from activities related to production. This module allows accountants to review, trace, and verify all the financial impacts of every stage in the manufacturing process.

1. Main View (Production Transaction Report Center)

The main page of this module is an interactive report that displays all journal entries relevant to production.

Advanced Filter Functions

You can use various filters to search for specific transactions:

• Project: Filter journals for a specific production project.

• Date: Specify a date range to see journals in a particular period.

• Chart of Accounts: Filter to see transactions that only affect a specific account (e.g., the Work in Process/WIP account, or the Finished Goods account).

• Production & Inventory Tabs: When accessed from the Production menu, you can use these tabs to quickly filter journals originating from production activities (e.g., Work Order completion) and inventory movements (e.g., raw material usage).

2. Types of Production Transactions Displayed

This module will display all journal entries generated from production activities, such as:

• Raw Material Usage Journal: Records the movement of value from the raw material warehouse to the Work in Process (WIP) account.

• Production Output Journal: Records the movement of value from the WIP account to the Finished Goods account when a Work Order is completed.

• Rework or Conversion Journal: Records the movement of value between inventory accounts when a rework or transformation process occurs.

• COGM Journal: The journal entry that records the Cost of Goods Manufactured upon production completion.

3. Steps to Generate the Report

1. Set Filters: Use the available filters, especially the Date range and the Production or Inventory tabs, to screen for the journals you wish to see.

2. Display Results: Click the [Search] button. The results will appear in the table below.

3. Export or Print: Use the [Export to MS Excel] or [Print] buttons to generate a report output.

Tips & Important Notes

• This module is the most important audit and traceability tool for Cost Accountants and Controllers.

• Use this module to verify that all physical goods movements on the production floor (material usage, production output) have generated correct and accurate accounting journals.

• This is a read-only module that summarizes all the accounting impacts of all activities throughout the Production Module.