Invoice

Question

I did an invoice and the GL account is set at #40600. When I post the invoice it is showing up under total revenues which would be correct, but then the same transaction is showing up under account #50500 total cost of sales. Any idea why this is showing up under both accounts? GL 50500 has never been used. Any help would be appreciated.

bottomline · Answer

If you are using an Item ID then the GL accounts are pulling from that item file. You can edit the sales account on the invoice but not the COGS, so you would need to drill into item screen to adjust that and then re-save the invoice to reclass it. john@bottomline-acctg.com

Best Business Strategies · Answer

Elkm 
 If you sold an Inventory item, that may be correct. When entering inventory in the system, the cost is entered into an asset account. When you sell the item, it is now moved to the cost of the goods sold account. On the invoice at the top of the page click on JOURNAL. It will show you what accounts were used in the posting. 
 Kind regards, 
 Shirley Byard, Sage 50 Certified Consultant.

Sage 50 US

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