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Fwd: Fwd: Accounting Entries For landed cost

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bhavik vyas
- 17/03/2017 04:46:31
Hello Community members!
I have situation where i am bit confused about landed cost system in the odoo.

Currently in odoo landed cost entries are created as
Expense - credit  -> inventory -debit

That means it will reduce the amount of expense and increase the amount of assets in  Profit & Loss statement and Balance sheet.

Now let say we will also create invoice for the landed cost such as for transportation and invoice will be issued to transportation company similar story with freight and insurance.This will be vendor bill and entries will same as any normal purchase.and on validating this entry it will credit in receivable account and debit in expense account.

If we check all entries for this single purchase order than expense entries will be nullified 
expense credited in landed cost entry
expense debited in invoice entry.

so ultimately 
inventory (i.e assets) are debited 
creditors (i.e also assets) are credited.

i don't really understand how this odoo created landed cost effect on the book keeping.

My client says that it should be like
credit in creditor (i.e actual vendor + vendor providing shipping and all)
debit in expense (product cost +  landed costs)
debit in assets (inventory account)

Bhavik Vyas
ERP-Consultant
9033986379
ITMusketeers Consultancy Services LLP




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