openerp-expert-accounting team mailing list archive

[mohammed gaafer <gaafer5@xxxxxxxxx>]

Hi Laurie,

Thank you for your response, I managed to configure , after your useful guidance, the income account and the expense account and it generates account moves correctly.

However, I am asking about how can I generate account move while doing internal moves between stocks in order to affect stocks valuation.

Another question, what stock input and stock output account used for, I did not need to configure them despite the fact transactions created correctly

cheers,


--- On Wed, 10/5/11, Laurie Chrostowski <lchrostowski@xxxxxxxxxxxxxxxxxx> wrote:

From: Laurie Chrostowski <lchrostowski@xxxxxxxxxxxxxxxxxx>
Subject: Re: [Openerp-expert-accounting] Stock valuation and related configuration
To: "mohammed gaafer" <gaafer5@xxxxxxxxx>
Date: Wednesday, October 5, 2011, 7:05 AM

Gaafer,
I'm working with a customer to get their confirguation correct.  The OERP documention as I expressed is not very clear.  I will help however I can.  What information would be helpful for you?

Laurie

On Wed, Sep 28, 2011 at 5:08 AM, mohammed gaafer <gaafer5@xxxxxxxxx> wrote:


Dear Laurie ,

first of all, I would like to thank you for this precious contribution. It is really hard to find any documentation about this topic in openerp books so that we are really in need to have the right configuration from the community.


Any assistance will be highly appreciated.

Thanks,

Gaafer


--- On Tue, 9/20/11, Laurie Chrostowski <lchrostowski@xxxxxxxxxxxxxxxxxx> wrote:


From: Laurie Chrostowski <lchrostowski@xxxxxxxxxxxxxxxxxx>

Subject: [Openerp-expert-accounting] Stock valuation and related configuration
To: "OpenERP Accounting Experts" <openerp-expert-accounting@xxxxxxxxxxxxxxxxxxx>

Date: Tuesday, September 20, 2011, 11:38 AM

I have
 spent a bit of time learning the double entry workflow related to
stock within OpenERP and would like to validate with the group the set
up for valuing stock in my existing database.  We are not using the
anglo-saxon module and are in version 6.0.3.


Stock Journal - in the database I am working in I have Accounting Stock
Accounts configured on the product category for use with the stock
journal.  The stock input account is Inventory Purchases (an asset
account) stock output account is Cost of Goods Sold (P&L account) and

stock variation account is Inventory (an asset account).  Journal is
Stock Journal.  When a purchase order is created and the products are
received I see entries in Inventory Purchases (CR) and Inventory (DR).


The Accounting Accounts set up in the product category is the Income
account = Revenue/Income and the Expense account is set to Inventory
Purchases.  I
 have found this is necessary to have the purchase journal
post the DR to offset the CR posted by the Stock Journal.

Purchase Journal - when the supplier invoice is created the entries are
Inventory Purchases (DR) and Accounts Payable (CR).


Finally with the Sales Journal - when a sale is made and the items are
picked there is a DR to Cost of Goods Sold and a CR to Inventory.

I would like to confirm that this is the best way to handle the
configuration.  The Inventory Purchases account is something I had not

experienced previously (it was already set up in the db I am working in)
and I am wondering if the group has seen the double entry stock
accounting accomplished in a different way.

Thank you in advance for your time.

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-- 
Laurie Chrostowski
Business Analyst
NovaPoint Group, LLC
(586) 330-9170
skype: lchrostowski