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Re: Inventory, COGS, getting it right





On 9/27/07, Charley Tiggs <..hidden..> wrote:
I have several questions regarding LSMB and handling of COGS and inventory.

I now know that, in order for COGS to be handled correctly, when I
initially set up the application, I must create AP invoices to insert
the AP invoices and pay them to make sure to handle COGS correctly.
Unfortunately, I came to that realization too late to easily correct the
problem.

Just for the record, a number of COGS-related bugs in corner cases were fixed in 1.2.8.  In particular short sales and transaction reversal had a number of issues corrected in it.

So, my questions:

Is there a way (easy or not) to "zero out" inventory and re-insert it
without starting all over from scratch?

I would issue a sales invoice for the balance.  I.e. if you have 5 items erroneously on-hand, I would sisue a sales invoice for 5.  Same with a negative number.  I would further do this at a 100% discount.
 

Is there a way to adjust COGS so that it starts behaving correctly
without needing to start from scratch?


After the above process, you can use a GL transaction to adjust the COGS and inventory accounts as needed.

Best Wishes,
Chris Travers

Any suggestions on approach would be greatly appreciated.

Charley

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