Skip to Content
Former Member
Jul 26, 2007 at 05:10 AM

SEM-BCS Journal Posting for Elim.inventory



I have setting for Elim.inventory as below :

In menu "posting item", I set "Finished Good" as an inventory item. And in the folder "Offsetting Item", I set "Net Sales" for debit side and "COGS unrealised profit on inventory" for credit side.

After that,

I input AFD for inventory managing unit (cons unit AA) => book value = 300 USD

for Supplying managing Unit (cons unit BB) => Gross Margin=25%.

Then I execute tas for Elim.inventory.

It create journal as follow :

Dr Net Sales 75

Cr Finished Good 75

Dr B/S current Year Profit 75

Cr P/L current Year Profit 75

<b>Is that journal correct?</b> because my accounting user said that it should be as follow :

Dr Net Sales 300

Cr COGS unrealised profit 225

Cr Finished Good 75

<b>The other question is :</b>

How to set the "freight cost" ? and what are the journal like ?

Thanks in advance