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Journal Entry for goods sales
Dear Professionals,
I made a sale of goods cost 13$ from my warehouse through sales order with a sales price of 18$, I made the delivery and transfer the goods to the customer, then i created the invoice.
The journals automatically made for this sale was:
Dr. Receivables 18$
Cr. Inventory 18$
The inventory decreased with the goods amount and value, and the customer account increased for the same amount
The entries i want it to appear is:
Dr. Receivables 18$
Dr. Cost of Goods Sold 13$
Cr. Inventory 13$
Cr. Sales revenue 18$
Can you guide me what am i missing through my setup
Thanks
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| Asked: 4/20/16, 11:08 AM |
| Seen: 418 times |
| Last updated: 4/20/16, 1:02 PM |