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account entry issue

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Posted on by LearnBC

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Dear Experts

In our stock entrim account some transactions are showing there but for those entries all the flows(complete sales and purchse already completed). but it is still showing in the intrim account.

how can we clear the entries /solve this issue.

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Inge M. Bruvik 1,111 Moderator on at

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Are you sure that you have runned cost adjustment for your company?

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LearnBC 224 on at

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Yes, for those entries all the items are already invoiced and delivered. these entries are more than 3 months before. now only we came to know this.

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Inge M. Bruvik 1,111 Moderator on at

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Yes, i understand that.

But what i really asked you about is cost adjustment, and you can read more about that here.

bc365.co/.../

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LearnBC 224 on at

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we didn't do any cost adjustment manually; it is already set as "automatic cost adjustment -always"

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Inge M. Bruvik 1,111 Moderator on at

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Is your issue that the transactions are showing or is it that you have a discrepancy in the interim account?

The transactions will not be removed from the interim account but they should be balanced out when the sales / purchase transactions are completed and cost are adjusted.

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LearnBC 224 on at

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as per understanding the transactions will gone from interim account once sales/Purchase transactions are completed. (pls correct me if am wrong)

but after completing sales/Purchase transactions also this is still showing interim account -only for this old entries.

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Dallefeld 211 User Group Leader on at

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The entries will never leave the account but there should be an offset once the documents are invoiced.

Receipt of $100

Invoice gives -$100

The entries are not deleted as that would be against audit but the offset entries are automatically handled for you.

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Amit 2,559 on at

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Hi,

Run Item Cost Adjustment of One Item and see the effect in the Chart of Accounts,

Regards

Amit Sharma

www.erpconsultors.com

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LearnBC 224 on at

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how can we clear our books. right now we have the total differences of 1.65k. actually these are the entries of initial time of our implementation now everything is going correct.

so for this what we need to do? could you pls explain step by step process for this

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Dallefeld 211 User Group Leader on at

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Book a general ledger entry to your interim inventory account and expense.

Please make sure after your entry is posted and that your inventory and interim inventory accounts have direct posting setup set to false.

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