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Memo Cost of Sales Adjustment on Item Receipt

edited Dec 5, 2023 12:56PM in Ask A Guru 7 comments

Hi all

Maybe this question has been asked by several of our colleagues, but I need a simulation for this, because this affects the cost center

on 01/12/2023

Transaction Cash sales -5 from department sales, but on 01/12/2023 qty on hand its 0

on 02/12/2023

transaction item receipt either transfer order or receipt item on PO for 10 item with rate $100 fromd epartment inventory

i want know what journal entries occur, and how is the stock recognized?

is journal when receipt on 02/12/2023

db inventory $1000 department inventory

cr accrued purchase $1000 department inventory

and system will automatic journal for adjusment to make item will be -5

db COGS 50

Regards,

R. Dieka Pribadi G. E.,

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