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Transfer Orders - Inventory in Transit - Accounts

edited Nov 22, 2013 1:03AM in Accounting / ERP 12 comments

Background: I've created a new Location to handle parts shipping from overseas.  When the item ships, we immediately receive into this 'TRANSIT' location and then create a Transfer Order to move the item to our 'MAIN' location.  Then we immediately Fulfill this Transfer order.  When the parts arrive, we Receive the transfer order.  It all works well except that the accounts postings are backwards, according to our accountant.

The fulfillment from the Transfer Order is posting like this:
COGS Account - Debit
Asset Account - Credit

He believes (and I think he's right) that it should post to the 'Inventory in Transit' account, like this:

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