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COST OF SALES, PO'S AND PURCHASE LEDGER

My question is mainly about Accounts Payable, the purchase ledger and how the PO affects the stock value in Xero.

1. WHEN A PO COMES IN FROM UNLEASHED, SHOULD I LEAVE IT CODED TO STOCK ACCOUNT CODE, ATTACH THE ACTUAL INVOICE AND POST IT TO PURCHASE LEDGER AS IT IS?

 2. IS COST OF SALES AND STOCK MOVEMENT ACCOUNTED FOR IN THE STOCK ADJUSTMENT JOURNAL?

 3. IF SO, WHY ARE THE PO AND STOCK ADJUSTMENT  JOURNAL VALUES NOT THE SAME?( I SEARCHED A STOCK ADJUSTMENT JOURNAL WITH A PO NUMBER 021, THE SAME PO NUMBER ON THE BILL)

 

For example, IF I have a PO 21 for a supplier in Xero from unleashed, the value of which is £1780 coded to Stock on hand ( SOH) account code 1001. I presume there will be a corresponding Stock adjustment journal for PO 21 of the same value (£1780). How do I find this journal? Also, I presume this is where the accounts COS (Cost of sales) is accounted for?

How are the accounts affected by this PO, now sitting in bills but coded to SOH.

OR

DO I manually change the bill to COS (Cost of Sales) or do i just leave the bill coded to SOH

Thank you

 

Accounts

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Hello There,

Thank you for your post here on our community forum. I can see my colleague Celine has replied to you via email.

Please let us know if you have any additional questions. Hope you have a great day!

Warm regards,

Sarah

Sarah Coulter 0 votes
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