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Deferred cost of sales account on item fulfilment
We are selling serialized inventory to customers and follow the process of Sales Order > Item Fulfillment > Invoice. My client requires that a control account be used during item fulfillment instead of the Cost of Sales account (Dr Deferred Cost of Sales, Cr Stock). When the invoice is created, the following entries should be passed: (Dr Accounts Receivable, Dr Cost of Sales, Cr Revenue, Cr Deferred Cost of Sales). The primary purpose of this requirement is to ensure that the Cost of Sales is recognized only when revenue is recorded.
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