Non inventoried products becoming inventory

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Contributing Cover User Debp
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Non inventoried products becoming inventory

We purchased some products that we werent going to put in inventory as they were shipping straight out, but things changed and now we want to have records of their sales and quantities available.   I have created new codes and did an inventory adjustment to put them in but when I have done the Inventory Value Reconcilliation Report.  These items are showing out of balance.. what am I missing?

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Ultimate Partner Mike_James
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Re: Non inventoried products becoming inventory

Hi @Debp , assuming that your item set-up is correct (asset, cogs and income account codes, that is) which account code did you use for the inventory adjustments? It should have been a cost of sales account code. For example, using the asset code will not change the GL asset code balance, and lead to an out of balance. 


Regards, Mike (mike@datawise.co.nz)
DataWise Limited (www.datawise.co.nz), developers of:
DataWise Report Writer - Custom Reporting from MYOB programs
(Including AccountRight Classic/Live, and exo Payroll)

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Contributing Cover User Debp
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Australia
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Re: Non inventoried products becoming inventory

Hi Mike,

 

Thanks for the feedback,  I did change the asset account for Inventory and not the Cost of Sales.  I have just amended it to the COS and its all resolved now. Thank you Smiley Happy

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