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Cost of Sales it's income view ???

By
walid
on 1/5/14, 3:41 AM 1,172 views

while i handle default chart of account in openerp i found Cost of Sales it's income view in Account Type that's right or wrong because i know Cost of Sales must be expenses only so why openerp make it as a income

0
Ravish Murari (rmu)
On 1/6/14, 3:13 AM

Hello,

after sale order confirm and validation , the account entries will be like

partner account : debit =100 company revenue (product sale account) : credit =100.
so this should be type income. ,deduct from partner account against income account of company

hope this will clear.

Many Thanks.

hello, sir i appreciate you answer but if we go to Profit and Loss report in accounting Reports you will find Cost of Sales in income section but this is wrong here according to accounting principals

walid
on 1/9/14, 2:44 AM

Hello, when you do sale entries . in OE receivable account (partner account) will debit and sales account will (product sale) credit.so it should be income. how can Cost of Sales must be expenses ...??

Ravish Murari (rmu)
on 1/10/14, 5:50 AM

sir I talk about cost of sale account not product sale account

walid
on 2/10/14, 2:13 AM

Cost of sales is definetely not an income! This is an expense representing the costs of the service/product sold.

AD LIBITOM, michel Guénard
on 5/28/14, 6:30 PM

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Asked: 1/5/14, 3:41 AM
Seen: 1172 times
Last updated: 3/16/15, 8:10 AM