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Re: How to cancel inventory gen entry?

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Hello,

Lets take an example:

Item A:

Good Receipt 1 qty @ 100 USD

JE:

Inventory A/c-- Dr 100

Expense A/c----- Cr 100

 

Current Item Cost based on multiple transactions- 115 and if you create Goods Issue, it would be based on 115 and not 100.

 

Option1: Create inventory revaluation and change item cost from 115 to 100

15 Dr to Expense A/C

15 Cr from Inventory A/c

 

Post Goods Issue based on new item cost. (not sure if this is a practical solution)

 

Option 2:

Create Goods issue based on new item cost.

Revaluate inventory with a dummy item to adjust the inventory figures.

 

Check these in Test db first before applying changes in Prod environment.

 

Thanks,

Joseph


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