I would like to ask regarding cost of goods from inventory. Suddenly my cost of goods become bigger than the revenue. the cost of goods appear as follow.
I am not sure why there are items appear without edit and view.
i have noticed that as follow: Item A, purchase price of $20. we buy 4pcs which is amounted to $80. we sell it 1pc per month.
the cost of goods only appear selling 1. with cost of goods $20. then the cost of goods appear again showing the item with total $80 (bigger cost of goods).
i share the same problem as this…records that are not part of my september records suddenly showed up out of nowhere…they’re the ones without an “edit” or “view” button on the above image…
is this just a glitch?
tagging master @Tut if he can shed some light on this…
@lubos hi, when you get a minute, do you mind looking into this please?
transactions suddenly showed up affecting COGS out of nowhere which throws our balance off…this affects ALL of the business in our account…we’re on cloud version
When you click on the amount for cost of goods sold, you will see several inventory items. You will also notice that there’s no “edit” or “view" button on the first 2 columns so we’re unable to locate where and how to delete or edit these. They have been messing up our report total and our clients are getting impatient and would like to see their updated numbers. This has a big impact in all of our businesses because it directly affects our P&L.
@Ealfardan I’m not sure if this has something to do with it BUT after I restarted the cloud server, it also changed the date on these phantom transactions that appeared on all our businesses
Just to give an update on this issue: The automatic accounting entries are correct. If you see automatic debit amounts in your cost of goods account, it means your inventory item had zero or negative Qty owned at the end of the reporting period, but the Value owned was more than zero. Manager will automatically move the value from the balance sheet to cost of goods sold.
The unfortunate part is that when drilling down into cost of goods sold accounts, transactions are shown as regular ledger entries, which doesn’t make it obvious why they are there.
