When a product is SOLD, the accounting journal entry will use the INCOME ACCOUNT to record the transaction based on the sale price.
When a product is PURCHASED, the accounting journal entry will use the EXPENSE ACCOUNT to record the transaction based on the purchase price.
You can benefit from reviewing "OpenERP For Accounting & Financial Management" at http://ursainfosystems.com/homesite/wp-content/uploads/2013/07/openerp_for_accounting_and_financial_management_-_1.0.pdf
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|Asked: 6/24/14, 3:55 PM|
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|Last updated: 3/16/15, 8:10 AM|