Mask
Code
Invoicing the shipment reverses the postings from the BookIn, posts to the inventory account and raises the liability to the creditors account. If the invoice is for an FX creditor, then there is no posting for GST/VAT. Where there is a price change for physical inventory items and some or all of the stock no longer exists, the difference is posted to the Cost of Goods Variance account for the inventory items.
Example
| Quantity | Ex GST Unit Price |
Landed Cost Unit Price |
Total Ex GST Value |
Total Landed Cost Value |
GST on Invoice | Total Inc GST | |
|---|---|---|---|---|---|---|---|
| Part A - Physical Item - Booked In details | 1,000 | 50.00 | 55.00 | 50,000.00 | 55,000.00 | ||
| Part A - 50 sold - Invoice Price details | 1,000 | 60.00 | 65.00 | 60,000.00 | 65,000.00 | 6,000.00 | 66,000.00 |
| Part B - Non Physical Item | 50 | 30.00 | 30.00 | 1,500.00 | 1,500.00 | 150.00 | 1,650.00 |
| Part C - Non Inventory Item | 10 | 100.00 | 100.00 | 1,000.00 | 1,000.00 | 100.00 | 1,100.00 |
| Creditor Total | 68,750.00 |
Journal
| Warehouse Mask |
BAS Code |
Debit | Credit | |
|---|---|---|---|---|
| Part A - Delivered Asset - reversal of BookIn (Qty * BookIn Landed Unit Cost) |
|
55,000.00 | ||
| Part A - Delivered Liability - reversal of BookIn (Qty * BookIn Ex GST Unit Cost) |
|
50,000.00 | ||
| Part A - Inventory Value (Qty * Current Landed Unit Cost) |
|
|
65,000.00 | |
| Part A - GST Inwards |
|
6,000.00 | ||
| Part B - Inventory Value |
|
1,500.00 | ||
| Part B - GST Inwards |
|
150.00 | ||
| Part C - Purchase Order Classification |
|
1,000.00 | ||
| Part C - GST Inwards |
|
100.00 | ||
| Creditors Value | 68,750.00 | |||
| Part A - Inventory Value ((Qty Sold * (Booked In Price - Current Landed Cost)) |
|
250.00 | ||
| Part A - Cost of Goods Variance | 250.00 |
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