Hi we use Business central and our costing is FIFO. we resell subscription based items to customers that gets billed annually and some are billed monthly. We buy these items from vendor and we get billed monthly. As I post the purchase invoices for items we purchase, I expect the cost of material GL account to reflect the cost of items, however, it doesn't seem. I see the COGS account is specified for the gen. product posting group correctly along with purchase account. what am I missing here?
How did you setup your posting group? If the COGS account does not reflect the expected cost, what does it reflect? Have you validate the posting accounts against the inventory valuation report?
Thanks Erik let me run the inventory valuation report. Also since it’s FIFO do I need to run inventory revaluation similar in the case with AX?
were you on ax before and moved to business central? or have you personally had experience with both products?
Hi jake, no. I personally have experience with both the products.
I used the default posting groups - just for your reference.