Skip to Content
0

Shipped Not Invoiced Account Mapping?

Apr 28, 2017 at 09:41 PM

57

avatar image

Currently our goods shipped not invoiced transactions credit an inventory account and debit a cost of goods sold account. This forces accounting to manually reverse the cost of goods sold entry back to an inventory accrual account on the balance sheet until the goods are invoiced at which time the entry is reversed allowing the costs to flow to the cost of goods sold account.

I want to systematically drive the shipped not invoiced cost of goods sold to an Inventory Intransit account and when the goods are invoiced systematically credit the Inventory Intransit account and debit a cost of goods sold account.

10 |10000 characters needed characters left characters exceeded
* Please Login or Register to Answer, Follow or Comment.

0 Answers