Hi,
I am confused with some fields here in general posting set up.
Our consultant made this set-up in our system.
If i run a Purchase Order entry this is the entry made
INVTPCOST Merchandise Inventory 900.00
INVTPCOST Merchandise Inventory (900.00)
Invoice Merchandise Inventory 900.00
Invoice Input Tax - Imported 108.00
Invoice Accounts Payable - Trade (1,008.00)
I am confused with the first 2 entries in INVTPCOST. Can we eliminate this entry since they are just offsetting each other? What is the effect of this entry in our Inventory and GL?
In the inventory tab, can we just fill out COGS Account? what's the use of the other fields in this tab?
Appreciate your reply. Thanks so much...