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Selling items means I sell the items and post the COGS to the defined COGS account and the revenue (which is zero in your case - as you are consuming it yourself) to you sales account. When you are not selling the items you are posting the costs of the goods to your adjustment account as defined in the...
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Aehm, when you issue an invoice with a ZERO value, there is no "payment". So this would be the "most correct" way of doing it. Anyway when you want to go the negative adjustment way: Go to warehouse, Item Journal and create a new line with the entry type "Neg. Adjustment"...
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When you buy these things from external companies and immediately "consume" it - which means you do not keep them on stock as items - you could either buy this as "fixed assets" or just as G/L accounts. On the other hand if your client is usually selling this stuff and from time to...
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Hi I wud like to know the reconciliation of following accounts: 1.COGS 2.Direct cost applied 3.RM Consumption Dir.cost applied gives credit effect i.e. income in P&L a/c COGS has debit effect in P&L A/c Direct cost applied account = routing cost defined at each work centre Now If i want to skip...
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Selling items means I sell the items and post the COGS to the defined COGS account and the revenue (which is zero in your case - as you are consuming it yourself) to you sales account. When you are not selling the items you are posting the costs of the goods to your adjustment account as defined in the...
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Aehm, when you issue an invoice with a ZERO value, there is no "payment". So this would be the "most correct" way of doing it. Anyway when you want to go the negative adjustment way: Go to warehouse, Item Journal and create a new line with the entry type "Neg. Adjustment"...
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When you buy these things from external companies and immediately "consume" it - which means you do not keep them on stock as items - you could either buy this as "fixed assets" or just as G/L accounts. On the other hand if your client is usually selling this stuff and from time to...
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Hi I wud like to know the reconciliation of following accounts: 1.COGS 2.Direct cost applied 3.RM Consumption Dir.cost applied gives credit effect i.e. income in P&L a/c COGS has debit effect in P&L A/c Direct cost applied account = routing cost defined at each work centre Now If i want to skip...
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Dear Thomas, Thanks for your help Suppose if i am going to give Negative Adjustment then please tell me the process because i have a doubt how i will book Purchase & Consumption and making cash Payment. Regards Narayan
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Dear Thomas, Thanks for your help Suppose if i am going to give Negative Adjustment then please tell me the process because i have a doubt how i will book Purchase & Consumption and making cash Payment. Regards Narayan