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Artata Zaman

Please guide me about COGS and Inventory configuration in OpenERP. My sales and purchases only show effect on Sales, Acc. Receivable, Purchases and Acc. Payables. Cogs and Inventory account doesn't show any entries. I have configured my accounts in the following pattern:

  1. In Accounting tab of product configuration, Inventory valuation method is Real Time (Automated)
  2. Stock input and output account is Stock Account.
  3. In Warehouse>Configuration>Products>Product Category, Income account is Sales Account, Expense account is
  4. Purchases Account, Stock input,output and valuation account is Stock Account.
  5. What is meant by Price Difference Account here? Also guide me that these settings are correct or not?

Regards

Artata Zaman

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Ray Carnes

What is the cost price of the product?

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Ghulam Yahya Omid
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Hello Artata,

It seems your configuration is correct on product and product category level.

If we have same kind of configuration then OpenERP should create Accounting entries in Stock journal under Accounting/Journal Entries/Journal Entries once you Confirm/Process your pickings (Incoming Shipments and Delivery Orders).

Note: OpenERP generate the appropriate accounting moves if the product being moves is subject to real_time valuation tracking, and the source or destination location is a transit location or is outside of the company.

Regards,

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Mustufa Rangwala (mra)
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Hello Artata,

It seems your configuration is correct on product and product category level.

If we have same kind of configuration then OpenERP should create Accounting entries in Stock journal under Accounting/Journal Entries/Journal Entries once you Confirm/Process your pickings (Incoming Shipments and Delivery Orders).

Note: OpenERP generate the appropriate accounting moves if the product being moves is subject to real_time valuation tracking, and the source or destination location is a transit location or is outside of the company.

Regards,

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Artata Zaman
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Thanks for reply. My this issue is resolved now. Now i just want to ask about the entry which OpenERP created at the time of Sale and Purchase for stock input and output. We have to manually post that entries. Is there any way taht these entries will post automatically?