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Learoy's avatar
Learoy
Trusted Cover User
9 months ago

Inventory Account

I have a problem with some items in our inventory where the item has been allocated to the wrong account when it was first brought into stock. Does anyone know what will happen if I edit the invento...
Princess_R's avatar
Princess_R
MYOB Moderator
9 months ago

Hi Learoy,

 

Changing an inventory item's sales category will only jazz up your new sales transactions, not past ones. Historical sales will remain recorded against the original sales category. To rectify this for financial reporting purposes, a journal entry is recommended. You can check out this post which is related with changing inventory category.

 

Cheers,

Princess

  • Learoy's avatar
    Learoy
    Trusted Cover User
    9 months ago

    Hi Princess,

    Thank you for your help & the links which I will follow for the journal entries.

    Regards,

    Learoy

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