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Hi.

Would like to know how to reconcile stock Recieved control account or stock interim account.

When I make a purchase order, receive stock, register payment and reconcile everything goes smoothly.. But there journal entries also created based of cost of products and also appear on unreconcilled items.. So the dashboard number of products bought as unreconcilled entries pending. 

Using perpetual inventory valuation what's the correct account to post these entries.


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@Chris 

This information was very helpful.. Thank you very much... 

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As you say, purchases and sales should automatically clear these interim accounts, but there can be balances because of inventory adjustments and price difference.

As far as I know (and I am not an accountant), any balances should be cleared by posting to an Expense account on P&L.

To make this easier in future you can create separate accounts for inventory adjustments so that they don't go in the Stock Interim Account, and also setup a different account for Price Differences.

1. Accounts for inventory adjustments

Start by navigating to Inventory / Configuration / Locations

Remove the filter (“Internal”) and all locations will be displayed:

As shown above, the Accounting Information is left blank as standard, which means that the stock input and output accounts in the Product Category are used.

Instead, you can:

  1. Create another “current asset” account, specifically for stock adjustments.
    • You then need to manually clear this account by posting a journal that will transfer the gain or loss to Profit & Loss (P&L).
  2. OR select an Expense account so P&L is updated immediately.

In both cases only one account is required and Odoo will post Credits or Debits depending upon whether the inventory balance is increased or reduced.

https://odootricks.tips/inventory-postings-valuation/#adjustments

2. Price Difference Accounts can be setup on Product Categories


My understanding is that this should be an Expense Account on the P&L.

Price Differences

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