Forum Discussion

katz's avatar
katz
Contributing Cover User
8 days ago

Inventory doesnt equal COGS -recap transactions (sales invoice)

How do I go about getting actual help from MYOB.

 

I have called, had multiple phone calls and discussions, only to be given a generalised message from someone who clearly doesn't have an accounting background.

 

When we post a sale for 2 particular product lines, the Inventory amount is correct in "recap transactions", however the COGS does not align with the inventory amount ( it is understated), so by default the balancing amount Sales therefore is incorrect. That means the sales doesnt gross up to align with what you might have manually calculated if you added up the amounts on the invoice.

The so called support people who have emailed me and translated what someone else has told them, tell me that MYOB COGS can be based on average cost.

 

Great, I dont have an issue with Fifo or average cost, however COGS cant be based on some other random number. If the recap transaction shows $2400 of underlying inventory (and I can prove it in the backend), then COGS cant be $400, it has to be equal to MYOB inventory

 

Is there any way I can speak to someone.

9 Replies

  • katz's avatar
    katz
    Contributing Cover User

    Dear Shella,

     

    I have rung 6 times and spoken to several people only to be given the royal runaround. I have scanned images, they have looked at my file only to be told that the file is ok and that I need to go back and find the error.

     

    Any chance you might put me on to the correct person. Someone who knows stock?

     

    Thanks

    Katarina

  • Shella_A's avatar
    Shella_A
    MYOB Moderator

    Hi Katz

     

    I completely get how the inventory and COGS discrepancy in MYOB has been causing you frustration, and I'm really sorry for the experience you've had calling our customer service. So, let's try something different. You can make a support request through myaccount.myob.com. As soon as you do that, a ticket gets created, and your request will be routed to the right team. Or, you can have a chat with our virtual assistant, MOCA, on our website. You can also ask for help via 'My Account' at myob.com. And don't worry; if MOCA can't sort it out, you'll be automatically bumped up to our live chat team.

     

     

    Kind regards,

    Shella

    • katz's avatar
      katz
      Contributing Cover User

      Hi Shella

       

      Is there anyone I can speak to or contact you offline.

       

      I have done what Mike has suggested to all the invoices and no change.

       

      I was wondering if I should go back to all affected invoices and allocate the item to a "cogs not inventoried account" and then do an adjust inventory to move stock in order to fix my COGS. Then I was wondering if I should shut that product down and start new ones?

       

      Any and all advice would be appreciated. Could you please contact me offline or have someone else contact me off line.

      Thanks

      Katarina

      • gavin12345's avatar
        gavin12345
        Ultimate User

        Hi Katarina,

         

        There are a number of causes behind COGS issues in MYOB, some caused by bugs, some by user error when setting up items or when doing Inventory Adjustment journals incorrectly. To avoid the continuous run around I suggest you try MYOX Services - they have fixed a number of files with these issues. They can analyse your file, find the issue and advise solution/cost. There would be a cost, however less run around and less stress.

         

        Regards

        Gavin

        gavinw222@gmail.com

         

  • Mike_James's avatar
    Mike_James
    Ultimate Partner

    Hi Katz, if only one invoice is involved,  try editing it, zero the qty for the problem product, then save the invoice. Then edit again and reinstate the qty. Then save again, and look for the journal transaction to see if the recorded COGS is correct. 

     

    The recap shows the COGS that would be recorded, not the actual cogs.

    • katz's avatar
      katz
      Contributing Cover User

      Hi Mike,

       

      Is there anyone I can speak to or can I contact you offline.

       

      I have done what you suggested to all the invoices and no change.

       

      I was wondering if I should go back to all affected invoices and allocate the item to a "cogs not inventoried account" and then do an adjust inventory to move stock in order to fix my COGS. Then I was wondering if I should shut that product down and start new ones?

       

      Any and all advice would be appreciated. Could you please contact me offline or have someone else contact me off line.

      Thanks

      Katarina

    • katz's avatar
      katz
      Contributing Cover User

      HI Mike James,

       

      I have multiple invoices.

       

      I will work on all of them and let you know.

       

      Thanks

      Katarina