Incorrect item cost of sales recorded when creating a sales credit

lcentral

I have a customer who wants to return an item and we also need to return this item to our supplier.  Our current stock is zero. When I created a sales credit, I can see from Item register that MYOB records an incorrect item cost.  Let's say the item purchase cost is $10 ex GST but MYOB recorded the item cost as $11 now.  How do we solve this?

Tracey_H

Hi @lcentral 

 

I'm sorry to see that no one has replied to you yet. Cost of sales is the average cost of the item, which is Current Value divided by Quantity on Hand at the of time of recording the invoice. 

 

If the average cost for an item is 0.00 when a negative sale is recorded the system will use the last purchase price, which is GST inclusive. This will cause the cost of sales to be overstated. Our teams are currently looking into this.

 

In the meantime, we recommend the following:

1. Enter in a service invoice for the customer return to refund/debit the customer.
2. Enter in an inventory adjustment to the cost of sales account to bring the item back into stock and reduce the cost of sales.

Please let me know if you need further help.

 

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