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I would like to have the cost price update after receipt of goods. Average price works but Real Price (preferred) only updates after sale of the goods. This leads to an accounting discrepency and also means the sales pricelists dont function as expected. Full example below:
Anglo Saxxon Accounting
Product set to Real Price + Real Time (Automated)
Purchase product A for $100.
Purchase an additional Product A for $200.
Now if you look at the cost price for the product it will still be $100.
You sell the first product A, the cost is accounted as $100. After the sale the product cost remains $100. (Balanced)
You sell the second product A. The cost will be accounted as $100 leaving a $100 discrepency. Now when you check the product cost it will have updated to $200.
How can I get the product cost to update BEFORE sale of the goods?
We are actually facing a similar situation.
Anglo Saxxon Accounting
Product set to Average price + Real Time (Automated)
Product Category is set FIFO
First buy a one unit of a product for $1000. cost get update to $1000. Next you get another unit for free, cost remains $1000 (Which is totally wrong of course).
Next try to sell 1 unit, cost of the product remains $1000. accounting entry passed for COGS @ $1000 (which is correct).
Try to sell the other unit and the product cost remains $1000 and accounting entry is passed @ $1000 for COGS? How come?????
this is a serious bug in the system and when dealing with hundreds of products and many daily transaction it is easy to have totally wrong accounting entries in the system and wrong financials as well.
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|Asked: 2/9/15, 8:14 AM|
|Seen: 950 times|
|Last updated: 8/2/16, 3:30 AM|