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Trucn's avatar
Trucn
Contributing User
1 year ago

Expense Account for Tracking Costs - how to link

Hello all,   We have been encountered with a reporting issue where the account used to link to an inventory item for tracking does not appear to show correctly on the GL details reports.   For in...
Trucn's avatar
Trucn
Contributing User
1 year ago

Hello Shella,

 

We've checked and it was linked right, just on the GL report the item was reported in a different account.

 

Can you please instruct how we could make sure the GL details report is set up to show the linked accounts correctly?

 

Thanks Shella!

Shella_A's avatar
Shella_A
MYOB Moderator
1 year ago

Hi Trucn,

 

Thanks for the update. I get that you're facing some trouble with the General Ledger (GL) details report not displaying the linked accounts as it should. Here's an easy-to-follow guide to help you sort this out:

 

  • Start by confirming the linked accounts in your MYOB software. You can do this by going to the "Setup" menu and choosing "Linked Accounts".
  • Ensure that the accounts tied to your inventory items are correctly set up. They should be linked to the right "Consumable" accounts or any other accounts that are relevant to your business needs.
  • If you notice any inconsistencies, you have the option to change the linked account by picking the right one from the drop-down list.
  • After making the necessary adjustments, you can run the GL details report again to see if the items are now listed under the correct accounts.

You can also check which accounts are linked to features by visiting the Accounts List window. Here's a helpful article on how to manage linked accounts.

 

 

Feel free to post again anytime you require further assistance. 


If my response has answered your inquiry, please click "Accept as Solution" to help other users find this information. 

 

 

Kind regards,

Shella

  • Trucn's avatar
    Trucn
    Contributing User
    1 year ago

    Hi Shella,

     

    I've gone to Setup, then Linked Accounts. But does not give me the inventory items option. Four options I have Accounts & Banking, Sales, Purchases, Payroll.

     

    I went to each, and did not seem to have "intentory".

     

     

    • Princess_R's avatar
      Princess_R
      MYOB Moderator
      1 year ago

      Hi Trucn,

       

      Thank you for providing an update on your progress.

       

      I've noticed that the expense account for tracking costs is listed as (5-3301), which might be causing the issue. To troubleshoot further, try changing the expense account to an expense account. After making this adjustment, run a General Ledger Detail report again to see if it pulls up the account linked to the item. 

       

      Feel free to let me know how you get along and if if you need further assistance.

       

      Cheers,

      Princess

      • Trucn's avatar
        Trucn
        Contributing User
        1 year ago

        Hi Princess,

         

        5-XXXX code is our Cost of Good Sold code, and we've had no issue reporting the other 5-XXX code except for a few inventory item that is linked to 5-3301.

         

        Could you please give me some more explanation as to why it needs to be an expense code? Expense code is used for another purpose in our firm.

         

        It's the back of the setting up of the inventory that is the issue I believe.

         

        Thanks!!

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