Cost of Goods Sold

[Wiston Kee]

Hi all,

I have created my accounting element using the standard AccountingUS.csv.

My question is:

 1. My '5 - Cost of Goods Sold' account did not increase after I have (made payment to my vendor through invoice (Vendor) / my customer made payment to me via invoice (Customer)), did I miss out some important steps here?

 2. After I have made my payment through the bank account, only '11110 - Checking In-Transfer' account has change in value, how should I update the value to '11100 - Checking Account'?

All answers are greatly appreciated!

[Carlos Antonio Ruiz Gomez]

Hi Wiston

1 - COGS is posted only by the Sales Shipment document

2 - The posting from Checking In-Transfer to Checking Account is done by
the Bank Statement document

It's a bit technical but this document can be a helpful summary of the
logic inside iDempiere accounting:
http://wiki.idempiere.org/en/IDempiere_Accounting

Regards,

Carlos Ruiz

[Wiston Kee]

Thanks Carlos! I tried it on a new iDempiere account and it's working now. The old account doesn't seem to be updating the COGS even after I have posted the shipment.

[ricard...@venexchange.com]

 

Hey Carlos,

I'm a bit confused, we sell industrial parts, and mostly Dropship the parts from our vendor directly to the customer.

We never stock anything. When creating Vendor Invoices and Posting them, the invoice Posts either as " Product Inventory Clearing" which I guess does not apply to us, or if I kind of modify the product setting, unclicking "Stocked" etc. I can get the invoice to report the products as "Product Expense".

I believe the products should be reflected as "Cost of Goods Sold" but for the life of me I cannot tweek the product or product category setting to get the products to Post in the Cogs account.

Am I doing something terribly wrong on the Accounting or System part?

Thanks,

Ricardo Malla