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Are these product categories set up correctly?

By
Jeremy Cloutier
on 1/15/15, 11:42 AM 1,296 views

Hello,

I am attempting to get Odoo set up for a small manufacturing startup and I am in need of some advice on the accounts pertaining to the products we both purchase and sell.

Below are the two product categories that I set up and the account that I setup for them. I am unsure however if I structured them correctly, and I don't have access to an accountant at the moment to ask. Any advice that you could offer would be much appreciated, trying to learn as we go is a daunting process.

Inventory - Components
Account Properties

  • Difference Account = Gross Profit
  • Income Account = Sales
  • Expense Account = Inventory Purchased

Account Stock Properties

  • Stock Input Account = Inventory Purchased
  • Stock Output Account = Cost of Goods Sold
  • Stock Valuation Account = Inventory on Hand - In Progress

Inventory - Finished Goods

Account Properties

  • Price Difference Account = Gross Profit
  • Income Account = Sales
  • Expense Account = Inventory Manufactured

Account Stock Properties

  • Stock Input Account = Inventory Manufactured
  • Stock Output Account = Cost of Goods Sold
  • Stock Valuation Account = Inventory on Hand - Finished Goods

Those all sound right to me.

Brett Lehrer
on 4/17/15, 12:09 AM
0
Ahmad Khan
On 7/7/15, 3:39 PM

Can any one Explain these account as  with its internal type and its parents type???

If any body did I shall very thankful to that....

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Asked: 1/15/15, 11:42 AM
Seen: 1296 times
Last updated: 7/30/15, 7:51 AM