MYOBCommunity
Partner Zone
|
|
Partner Zone

Error in Cost of Sales account

Lisa-HT
3 Posts
User
Lisa-HT

3Posts

0Kudos

0Solutions

Error in Cost of Sales account

Hi there,

 

When we check the account cost of sales, we found one of our purchase bills sits on credit side. Also the amount is different to the bill amount.

 

This error affects the P&L loss report. 

 

Could anyone give any help?

3 REPLIES 3
Lisa-HT
3 Posts
User
Lisa-HT

3Posts

0Kudos

0Solutions

Recap Transactions

Hi,

 

I have attached a screeshot shown one recap transation for one of our purchases.

 

Why does it record to purchase-spare parts account which is cost of sales account?

 

Recap Transaction.png

MYOB Moderator Steven_M
29,901 Posts
MYOB Moderator
New Zealand
Steven_M
MYOB Moderator

29901Posts

3667Kudos

4386Solutions

Re: Error in Cost of Sales account

Hi @Lisa-HT 

 

So we can investigate further can you provide a screenshot of the actual purchase transaction that has been recorded and the set up of the item(s) i.e. the Profile tab involved in that transaction.


Also, knowing if that transaction was an order/receive item transaction before a bill would be appreciated as well.

Kind regards,
Steven

MYOB Community Support

Online Help| Forum Search| my.MYOB| Download Page

Did my answer help?

Mark it as a SolutionHelpful? Leave a to tell others

Aiden3
2 Posts
User
Aiden3

2Posts

0Kudos

0Solutions

Re: Error in Cost of Sales account

A merchandising company can prepare accurate income statements, statements of retained earnings, and balance sheets only if its inventory is correctly valued. On the income statement, the cost of inventory sold is recorded as cost of goods sold.
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