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COGS and Inventory Configuration

By
Artata Zaman
on 2/4/14, 12:35 AM 1,779 views

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

What is the cost price of the product?

Bista Solutions US, Ray Carnes
on 2/7/14, 11:52 PM
0
Ghulam Yahya Omid
On 2/7/14, 3:23 AM

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,

0

Mustufa Rangwala (mra)

--Mustufa Rangwala (mra)--
Tiny ERP Pvt Ltd
http://www.odoo.com
853
| 2 1 4
Ahmedabad, India
--Mustufa Rangwala (mra)--

- Around 7+ years of strong experience in Odoo (Formerly OpenERP) which is world's largest Open Source Business Applications driven by CEO Fabien Pinckaers. - Played key role in developing and maintaining various Odoo Product modules and integrating them on Open Source ERP Environment. - Experience on Scrum methodology for project management - Experience in Team Building - Quick Start Implementations. - Worked on almost all versions (4.0, 5.0, 6.0, 6.1, 7.0, SAAS, Trunk(8.0)...) of Odoo (Formerly OpenERP) . Specialities: Odoo Business Process And OpenERP Implementation. Odoo Application Support and Maintenance. Odoo Technical & Functional Training. Business Process Mapping & Gap Analysis (Functional and Technical Analysis)

Mustufa Rangwala (mra)
On 2/7/14, 3:27 AM

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,

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?

Artata Zaman
on 3/10/14, 6:08 AM

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Asked: 2/4/14, 12:35 AM
Seen: 1779 times
Last updated: 3/16/15, 8:10 AM