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author's profile photo Former Member
Former Member

Sales Return and Journals

Hi,

If I create a Sales Return by copying from a Delivery, a journal is created counting the stock back in. and

If I create a standalone Return, no journal is created but the stock value is counted back. The stock G/L account is not changed.

Version 8.82 PL06

Perpeutal Inventory is on, FIFO valuation method and G/L accounts set by Item Group.

Thanks, Naomi

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  • author's profile photo Former Member
    Former Member
    Posted on Jun 01, 2013 at 12:59 PM

    hi Naomi,

    Yes i do face the same problem in my system, there is a reason behind that , if it is a delivery based return our stock account has debited and our COGS account has credited. but if it is a stand alone return there is no expense that is why system does not take any journal entry. this is my openion. May be some body can have the solution or reason.

    Regards,

    Shanmugam V.

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    • Former Member

      Hi Naomi,

      Based on the below reply the system has generated the JV if it is a old stock in the warehouse. if it is a new item we never purchase earlier then it will not generated the JV.

      Regards,

      Shanmugam V.

  • Posted on Jun 01, 2013 at 02:57 PM

    Hi Naomi,

    The following general entry is created automatically when you add a return:\

    When return is not based on delivery or AR invoice (standalone), the cost of the first open layer is used for calculating the amounts in the journal entry. The return opens new layer that functions as the last open layer on the first

    If the first transaction for an item as return, then the cost and transaction value Is zero.

    Hope helpful.

    Thanks & Regards,

    Nagarajan

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