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author's profile photo Former Member
Former Member

Issue within Purchase Credit Account & Price Difference Account

Dear All,

I just wanted to know when this Purchase Credit Account and Price Difference Accounts within the Accounting Tab in Item Group or Within the Accounting Tab within Warehouse are Posted within the Transaction.

Kindly someone explain me with a proper example.

Regards

HP

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    author's profile photo Former Member
    Former Member
    Posted on May 09, 2011 at 08:27 AM

    Hello,

    Price Difference Account :-

    When we are using with Standard(Valuation Method) in Inventory Data Tab.

    Suppose we have put cost 100 rupee for RM001 (Raw Materials) but if we make document for 120 then it will affect with difference amount it may be increase or dcrease.

    Purchase Credit Account :-

    when a credit transaction for purchasing is created, for example, an A/P credit memo

    Suppose if we have made Purchase Invoice (A/P invoice ) and after we make Credit note then this account will be affect

    Thanks

    Manvendra SIngh Niranjan

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