We have a situation where a company purchased items, made payment and received goods, however when it comes to the sales, they are making a delivery note, they have some specific customer whom they don’t immediately generate the sales invoice.
What can be a solution where the items (both qty and amount) will not be in “Stock in Hand” once Delivery Note will be generated.
Some suggestion given to create a Sales Invoice for future date, however not acceptable by the company.
Furthermore another idea is to generate Sales Invoice with qty but Zero unit price, it move stock (value) to Cost of Sales, is there even better option.
Apology for late response, the issue is as follows:
Company using Manager is not keeping stock or inventory, the items goes ditectly to their customers, even if we take the items in stock than despatch by Delivery Note, it only moves the qty whereas keep the items value in stock in hand, whereas it’s not the case as explained above. This is making an issue as the items need to deploy to the projects instead of keeping them into inventory. Is there any way to charge the items directly to Cost of sales instead the Sales Invoice generate the transactions.
Perhaps if the users allow to select the Custom GL A/C when creating a new item or need modifications later.
How can you charge an inventory item to Ciost of Sales without raising a Sales Invoice to record the income, or lack thereof if you are giving the item away free of charge?
I would have that that even a debutant accountant would be aware of this
If I understand well, you basically deliver goods from a company to their customers and want to track delivery. Assume you would do everything by paper rather than software how does this work in practice?
@danowagroup, based on what you have written, I do not see why this company would use inventory items for such purchases at all. It sounds like you are purchasing supplies on behalf of your customer. You should post the purchases to Billable expenses. They will not appear in your Inventory on hand account. When you are ready to create a sales invoice, do so from the Customers tab and select the expenses involved. Their cost will be transferred to the Billable expenses - cost account. If desired, that account could be moved to the Cost of Sales group.