I’ve configured my product category inventory valuation as Automated and set up the following accounts in the product category:
- Stock Valuation Account
- Input Account
- Output Account
- Expense Account (set as my Cost of Goods Sold (COGS) account based on my Chart of Accounts).
Here’s the issue I’m facing:
When I change the cost in the product master, the amount is reflecting in the Profit and Loss Report under the COGS account, but no sales have been made
this is entry happening when change cost
- COGS Account (Credit)
- Inventory Account (Debit)
Why does the system post this journal entry when the cost changes?
Hi @Ray - this is a good way of changing the cost in v18 for products with FIFO and Average Cost. But it can't be used for products with Standard Cost.