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COGS Values Changed After Item Reclassification (Transfer)
Jonathan2708
Member Posts: 552
Hi,
I needed to move all the stock in one location to another, so I used an item reclassifcation journal. As expected I got Transfer entries in the Value Entry table showing the Cost Amount coming out then back in again. The net inventory valuation movement is zero as expected. However I have also now got additional cost amount entries that relate to old posted invoices (they carry the document no for the delivery note/invoice). These entries have also posted to the stock and COGS GL accounts meaning I now have discrepancies on both these accounts.
I used the item re-classification journal thinking that a transfer would simply move the quantities and leave the values alone. Can anybody explain this one for me?
Thanks,
Jonathan
I needed to move all the stock in one location to another, so I used an item reclassifcation journal. As expected I got Transfer entries in the Value Entry table showing the Cost Amount coming out then back in again. The net inventory valuation movement is zero as expected. However I have also now got additional cost amount entries that relate to old posted invoices (they carry the document no for the delivery note/invoice). These entries have also posted to the stock and COGS GL accounts meaning I now have discrepancies on both these accounts.
I used the item re-classification journal thinking that a transfer would simply move the quantities and leave the values alone. Can anybody explain this one for me?
Thanks,
Jonathan
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