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".
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
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!!
Hi Trucn,
Thanks for your response. The expense code 5-XXXX serves a specific purpose unrelated to Cost of Goods Sold (COGS) reporting. Therefore, using this code for COGS may disrupt established processes or reporting structures within your organization.
The issue likely stems from how inventory items are configured in your Software. When an inventory item is associated with an expense code, it categorizes the cost as an expense rather than a part of COGS, which is typically linked to sales of inventory items. Utilizing an expense code for inventory items linked to 5-3301 could lead to discrepancies or inconsistencies in financial reporting, especially when analyzing COGS and expense data separately.
To resolve this issue, ensure that inventory items are correctly linked to the appropriate expense code for COGS tracking. This will help accurately report expenses related to inventory.
Feel free to post again, we're happy to help!
If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.
Regards,
Earl
