Dear All,
We are confused about some entries happening when we post Purchase Return Invoices.
Suppose we Purchase an item at $100 and later on add a miscellaneous charges adjustment of $5 on it. Thus, the total cost amount of this item is $105.
Now we return this item to its vendor and post purchase return invoice. Here, the cost price of Item is $105, but, return price is $100.
Thus, the voucher goes:
Vendor Balance: - $100
Purchase, Expenditure for Product:= $100
Purchase, Inventory Receipt:= $105
Purchase, Expenditure for Product:= $105
Further, its inventory transaction shows Profit and Loss, Posted Amount:= $5.
Thus,
a) Purchase Expenditure for Product shows a balance of $5.
b) We are unable to find any GL entry for [Profit and Loss, Posted Amount]
We want to understand whether GL account for [Purchase, Expenditure for Product ] should balance as Zero. Whether GL entry for [Profit and Loss, Posted Amount] be posted and if yes, what setup should be done to make this posting happen.
Currently, we are in a dilemma that the Main Account for [Purchase Expenditure for Product] is showing balance. Whereas, some Inventory Transactions show some value for [Profit and Loss, Posted Amount] in updates tab, but, can't find its corresponding GL entry.
Can anyone help me with this?
Best Regards,
B. Gurjar