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Updated Asset Account on inventory item doesn't get updated with value.
Hi, We updated the asset account on some of our items with a newly created account. For example the one that was there before was a 1200 Inventory Account and we created a sub-account 1210 under 1200 and assigned it to some of our inventory items. What we expected was to get the values of those inventory moved to the new…
Can we change COGS / Asset Account in Transaction record
I know we set default COGS / Asset account in Item record but is there a way to change it manually in transaction record like how we can change AP/AR account in invoice/bills.
Fixed Asset Disposal- Gain(Loss) on Sale Account
Hi There I have the following scenario of asset disposal via a sale: Asset original cost: $250,000 Accumulated depreciation: $12,361 Net Book Value: $237,639 (this being the $250k original cost less $12,361 accumulated depreciation till date) The asset is sold for $240,000. This means there should be a gain on sale of…

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