Hi,
the automatic inventory process don't work
I create a new Product Category, set as
Force Removal Strategy: FIFO
Costing Method: AVCO
Inventory Valuation: automated
Price Difference Account: empty
Income Account: my income account as chart of account: 70111001 Sales of goods
Expense Account: my Expense account as chart of account 60111001 Purchase of goods
Stock Valuation Account: my Stock Valuation account as chart of account37100001 Stock on hand
Stock Journal: Inventory Valuation
Stock Input Account: my Stock Input account as chart of account37100001 Stock on hand
Stock Output Account: my Stock Output account as chart of account 37111003 Stock Input Account
but it isn't work.
please help
Which process is not working? Is it valuation or Costing or Journal entry?
Dear Balagopal R
the journal entry it done as manual.
regards
The Journal Entries will be created at the moment you are Validating the Receipt (Incoming Shipment)
Dear Balagopal
when i make purchase invoice it makes the journal entry on expense account instead of Stock Input Account
hope you under my point. regards
Which Accounting method you are using? Anglo Saxon or Continental?
In continental, the expense will be registered at the time of Vendor Bill creation.
Dear Balagopal R
Actually I didn't click the Anglo Saxon, but I trying it demo as same configuration it run correct without Anglo Saxon. while in my company it run as manual.
Dear Cybrosys Techno Solutions Pvt.Ltd
Actually I didn't click the Anglo Saxon, but I trying it demo as same configuration it run correct without Anglo Saxon. while in my company it run as manual.
Does the demo different the real one?