Hi! Gurus,
I created a material with moving average price and raised PO for 1 Qty @ 10 and Received Goods Receipt 1@10 and at the time of Invoice I posted 1 qty @ 12.
The difference amount 2 should have been debited to stock account instead difference amount 2 is going to Price Difference Account.
The correct entry should have been for Moving Average Price (V)
GR/IR 10 Dr
Stock 2 Dr
Vendor 12 Cr
The entry I got which is wrong.
GR/IR 10 Dr
Price Diff 2 Dr
Vendor 12 Cr
Could someone of you assist me in this regards.
Best Regards
Surya