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How to properly configure Valuation Real-Time

By
Alessandro Domanico
on 3/1/15, 5:56 PM 664 views

There's a lack of documentation about Valuation Real-Time. Personally I've tried:

this: Financial Inventory Management

and

this: Integrating OpeneRP stock management with your financial accounts | miketelahun

But still I cannot get it working properly. I need to configure following accounts:
- Income Account [income]
- Expense Account [?]
- Stock Input Account [?]
- Stock Output Account [?]
- Stock Valuation Account[asset]

If I set the Stock Input and Stock Output as assets and the Expense Account as expense, after purchases and sales, I got the total asset balance equal to zero, thus the Stock Valuation account actually reports the real value of the stock. What next then?

If I set the Stock Input and the Expense Account with the same asset and the Stock Output as COGS (expense), after purchases I got the Stock Valuation with the real value of the stock (BS report) but there's no evidence of purchases in PL report, thus after the sales I got the Stock Output with the real value of COGS. Is it an empty PL report correct after a purchase?

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Asked: 3/1/15, 5:56 PM
Seen: 664 times
Last updated: 3/24/15, 8:32 AM