I’m very new to manager, however I’m enjoying it so far…
I’ve a question about the automated journal entries that follows creating a “PO” also after creating “Good Receipt”… despite the fact that I select the supplier, I don’t find any balances reflected in supplier account or in inventory account !!!
Please let me know if yo have an idea about automated JV posting to Supplier account and inventory account following creating PO / GR.
Purchase orders have no financial impact. They are included as a shortcut to start the accounting workflow. They create no accounting obligation on anyone’s part, and record no expenses. So they do not show up anywhere in the chart of accounts. In other words, they generate no automatic journal entries. See https://www.manager.io/guides/7210.
Goods receipts only complete transactions begun by purchase invoice or indicate movement of quantities. See https://www.manager.io/guides/10704.
For a general overview of inventory management functions, see the three-part Guide beginning here: https://www.manager.io/guides/11111.
Thanks for your reply, I’m still suffering with inventory module as when I create goods receipt I don’t see the inventory received reflected in inventory !! also when I create a sales invoice for the item received, it doesn’t reflect in COGS account !!
appreciate if you can help solving this issue, for your reference I have done the following:
1- created Inventory item (including all information).
2- created PO.
3- Created purchase invoice (from supplier already created previously)
4- Created Goods Receipt through the application & selected the inventory item previously created in step (1).
5- made sales invoice for inventory item to one of my customers (already created as customer)
despite the above followed steps, inventory is not updated nor COGS.
only supplier account & customer account got updated.
Appreciate your help…
can you provide a screenshot of how you created the purchase invoice.
based on what you’re saying you did, it seems you’re not missing anything so you shouldn’t be having any problem.
The screen shot should be of the Edit screen for the purchase invoice. Also post screen shots of the Edit screens for the goods receipt and sales invoice.
Are you using the Delivery Notes tab? If so, step 6 in your process should be creation of a delivery note.