Non inventoried products becoming inventory

Contributing Cover User Debp
6 Posts
Contributing Cover User
Australia
Debp
Contributing Cover User

6Posts

0Kudos

0Solutions

Solved: Go to Solution

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?

2 REPLIES 2
Ultimate Partner Mike_James
1,783 Posts
Ultimate Partner
New Zealand
Mike_James
Ultimate Partner

4291Posts

1883Kudos

541Solutions

Accepted Solution Solved

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)

Contributing Cover User Debp
6 Posts
Contributing Cover User
Australia
Debp
Contributing Cover User

6Posts

0Kudos

0Solutions

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

Didn't find your answer here?
Try using advanced search to find a post more easily Advanced Search
or
Get the conversation started and make a new post Start a Post