Cost Accounting
This setting offers some options for controlling the costing method used by FirstOffice when generating Nominal Ledger cost accounting transactions from the Sales Support module.
- Update GP at Invoicing
- When you create Invoices from Orders, the Cost Price of each Item on the Invoice (and therefore its gross profit) can be taken from the Order or from the sum of the Cost Price and the Extra Cost from the Item record. If you wish to use the latter alternative, switch this check box on. This can be more accurate if you are routinely updating Items' Cost Prices from Goods Receipts since these are likely to occur after the entry of the Sales Order.
- Use Item Groups for Cost Accounts
- If you select this option, FirstOffice will give priority to the Accounts entered for each Item Group when Nominal Ledger Transactions are generated from Deliveries and Goods Receipts.
- If you are using this option, it is recommended that all Stocked Items belong to Item Groups and that all Item Groups have Cost and Stock Accounts specified.
- Use Item Groups for Cost Model
- If you select this option, FirstOffice will give priority to the Cost Model entered for each Item Group when outgoing cost accounting transactions are generated from Deliveries and Invoices.
- If you are using this option, it is recommended that all Stocked Items belong to Item Groups and that all Item Groups have Cost Models specified.
Please click
here for details about the FIFO per Location option added to this card by the Stock Locations Value Pack.
