The
cost of non inventory items is not posted to the General Ledger. The journal posting sales and costs is not created until all lines on the sales order are delivered. Where stock is allocated to a snapshot and there are still back orders, processing the sales order posts the value of stock to the account attached to Assigned Stock in the inventory record.
The
cost of non inventory items is not posted to the General Ledger.
EXAMPLE
Snapshot 1 - Delivered
| Ex GST Total | GST | Total Inc GST | Cost | |
|---|---|---|---|---|
| Part A - Physical | 300.00 | 30.00 | 330.00 | 175.00 |
| Part B - Non physical | 600.00 | 60.00 | 660.00 | 200.00 |
| Part C - Non Inventory | 400.00 | 40.00 | 440.00 | 100.00 |
| Courier | 50.00 | 5.00 | 55.00 | |
| Total | 1,350.00 | 135.00 | 1,485.00 | 375.00 |
Snapshot 2 - Delivered
| Ex GST Total | GST | Total Inc GST | Cost | |
|---|---|---|---|---|
| Part A - Physical | 700.00 | 70.00 | 770.00 | 325.00 |
| Total | 700.00 | 70.00 | 770.00 | 325.00 |
Totals of 1 & 2
| EX GST Total | GST | Total Inc GST | Cost | |
|---|---|---|---|---|
| Total | 2,050.00 | 205.00 | 2,250.00 | 800.00 |
Journals
Snapshot 1
| Ledger | Warehouse Mask |
Branch Mask |
BAS Code |
Debit | Credit |
|---|---|---|---|---|---|
| Inventory Value - Part A (Inventory - Inventory Value) |
|
175.00 | |||
| Assigned Value - Part A (Inventory - Assigned Value) |
|
|
175.00 | ||
| Inventory Value - Part B (Inventory - Inventory Value) - usually set up as a Cost Recovery account | 200.00 | ||||
| Assigned Value - Part B (Inventory - Assigned Value) | 200.00 |
Snapshot 2
| Ledger | Warehouse Mask |
Branch Mask |
BAS Code |
Debit | Credit |
|---|---|---|---|---|---|
| Assigned Value - Part A (Inventory - Assigned Value) - REVERSAL OF DO1 |
|
|
175.00 | ||
| Inventory Value - Part B (Inventory - Inventory Value) - REVERSAL OF DO1 | 200.00 | ||||
| Assigned Value - Part B (Inventory - Assigned Value) - REVERSAL OF DO1 | 200.00 | ||||
| Sales - Part A (Inventory - Sales) |
|
|
|
1000.00 | |
| Sales - Part B (Inventory - Sales) |
|
600.00 | |||
| Sales - Part C (Non Inventory - Sales) |
|
400.00 | |||
| Freight Charged - Courier (Debtor - Freight) |
|
50.00 | |||
| GST - Total (Tax - Supplies) |
|
205.00 | |||
| Debtor Control Account (Debtor - Debtor Value) | 2250.00 | ||||
| Inventory Value - Part A (Inventory - Inventory Value) |
|
500.00 | |||
| Cost of Goods Sold - Part A (Inventory - Cost of Goods Sold) |
|
|
500.00 | ||
| Inventory Value - Part B (Inventory - Inventory Value) - usually set up as a Cost Recovery account | 200.00 | ||||
| Cost of Goods Sold - Part B (Inventory - Inventory Value) | 200.00 |
Snapshot 1
| Ledger | Warehouse Mask |
Branch Mask |
BAS Code | Debit | Credit |
|---|---|---|---|---|---|
| Inventory Value - Part A (Inventory - Inventory Value) |
|
175.00 | |||
| Assigned Value - Part A (Inventory - Assigned Value) |
|
175.00 |
Snapshot 2
| Ledger | Warehouse Mask | Branch Mask | BAS Code | Debit | Credit |
|---|---|---|---|---|---|
| Inventory Value - Part A (Inventory - Inventory Value) - REVERSAL OF DO1 |
|
175.00 | |||
| Assigned Value - Part A (Inventory - Assigned Value) - REVERSAL OF DO1 |
|
175.00 | |||
| Sales - Part A (Debtor - Sales) |
|
|
|
1,000.00 | |
| Sales - Part B (Debtor - Sales) |
|
|
|
600.00 | |
| Sales - Part C (Debtor - Sales) |
|
400.00 | |||
| Freight Charged - Courier (Debtor - Freight) |
|
50.00 | |||
| GST - Total (Tax - Supplies) |
|
205.00 | |||
| Debtor Control Account (Debtor - Debtor Value) | 2,250.00 | ||||
| Inventory Value - Part A (Inventory - Inventory Value) |
|
500.00 | |||
| Cost of Goods Sold - Part A (Inventory - Cost of Goods Sold) |
|
|
500.00 |
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