Re: Expensing an item in inventory

["Chris Travers" <..hidden..>]

On 10/30/07, Robert Fraser <..hidden..> wrote:
> On 10/31/07, Chris Travers <..hidden..> wrote:

> > Ok.  So one also needs to do a GL entry/adjustment against the COGS
> > and the other expense account.
>
> Aha. Thanks for the help.  Luckily these items are almost always low enough
> in cost that they don't have to be depreciated.

John's point is that if you just invoice yourself, the expense will go
into the wrong account (COGS instead of whatever account you have for
used up computer supplied).  This leads to low figures in terms of
gross profit margin and also low figures relating to operating
expenses.

Hece after you invoice yourself, you need to do a GL transaction to
move the money from one expense account to the other.

Hope this helps,
Chris Travers

>
> I had noticed in the Inventory Activity report there is an Expense column -
> and I wondered if there was some functionality for this that I had missed.
>
> Thanks again
> Rob
>
>
>
>
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