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ReportWhen processing a sales return the cost of the items came in at the sales price. Why did this happen and how can we fix it?
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When processing a sales return the cost of the items came in at the sales price. Why did this happen and how can we fix it?
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If you sell 10 pieces of Item (A). Unit cost = 10, and Sales Price = 12. Supposing the current cost is still (10)
When entering and posting a return for the 10 sold pieces of item (A), the expected Journal Entry is as follows;
Inventory Dr (100) - Cr( 0 )
COGS Dr (0 ) - Cr( 100)
If not, what's your case ?
Correct but it doesn't adjust the inventory cost it brings in total cost for all as the sales amount which is not correct for the inventory. I'm assuming not I have to do a cost adjustment to correct my inventory cost?
The item unit cost on sales return is supposed to be derived from the item current cost, although, there is an option in Sales Order Processing to "Override Item Unit Cost for returns", in case it is checked, you can edit the unit cost when entering a sales return.
In case the answer is not sufficient enough, further details would be appreciated
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