1. Creation of a item requirement from project for a SERVICE item.
2. posting a packing slip
3. voucher for packing slip (for service item) is
Project - cost - item (Deferred COGS) - DR
To Purchase expenditure for expense - CR
But when I post packing slip for the same service item with normal sales order created from Accounts receivables module, I can not see any voucher posted.
My question here is crediting 'Purchase expenditure for expense' on packing slip is correct accounting entry? If yes, why?
Crediting “Purchase expenditure for expense” is correct because the system is transferring cost out of the purchase expenditure clearing account and into the proper project cost/WIP account at the time the project consumes the item (even though it is a service item).
You can run the "Project statement", the cost will be reflected.
Example:
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