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March 2022
March 2022
Hi - I have just noticed that for some reason the COS was recorded as an amount inclusive of GST when a credit note was done. Prior to doing the credit note, the inventory item had zero in stock and a zero value and the last purchase price was $2.717 including GST (i.e. $2.47 ex GST), so I would have expected that when I returned 12 of this item to stock, the new inventory value would be $29.64, but MYOB has recorded it at $32.60 which is the GST inclusive value. This is therefore causing the stock to be over-valued by the amount of GST. Anyone else notice this?
March 2022
March 2022
Hi @sascaro , this is a long-standing issue (I first noted it in 2014), which occurs only when there is no stock on hand at the time of the credit, and the last cost includes GST (I think). If necessary, you will have to make a manual inventory adjustment.
Regards, Mike (mike@datawise.co.nz)
DataWise Limited (www.datawise.co.nz), developers of:
DataWise ProActive - Custom Reporting from MYOB programs
(MYOB Business, including AccountRight Live, AccountRight v19.x and exo Payroll)
Bulk download of attachments (more details...)
March 2022
March 2022
Ineresting. Thanks for the information. If this is a known issue for 8 years, why aren't MYOB doing anything about it?
March 2022
March 2022
Hi @sascaro
This is just one of over a hundred known issues MYOB isn't doing anything about
Regards
Gavin
April 2022
April 2022
August 2022
August 2022
We also have this issue. Have you found a solution?
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