COGS and revenue recongnition at one time?
Hi,
Our all sales are on export.When we ship confirm the goods,Accounting entry
Dr DCOGS
Cr Inv
When auto-invoice run,accounting entry
Dr Receivables
Cr Unearned Revenue
When customer accept the goods and we get notification,accounting entry
Dr Unearned Revenue
Cr Revenue
The requirement is when we create invoice through autoinvoice,accounting should be
Dr Unbilled receivables
Cr Unearned Revenue
When the goods actually reached to the customer(transit time unidentified)
Dr Receivable
Dr Unearned Revenue
Cr Unbilled Receivables
Cr Revenue
0