Re: Supplier vs Item GL Accounts

2013-02-01T20:04:03Z

The GL accounts for suppliers sets the Accounts Payable, Purchase Discounts (eg. for prompt payment of their invoices) and Expense/COGS accounts. You want to set the Expense/COGS account to "Use Item Inventory/COGS Account" so that when you purchase items from that supplier the expense is coded properly. Then it will work as it should.

Hope that helps...

Regards,

Chris

Supplier vs Item GL Accounts

2013-02-01T17:39:42Z

I noticed that you have to define both GL accounts for items and suppliers. And I was wondering which one of these "wins" when purchasing items. For example I have a supplier I buy both "expensed" items from as well as "for sale items". So if I create and item for that supplier they need to go into COGS/inventory accounts, but if use GL accounts for the supplier I need them to go into the expense account. So if I set the GL accounts in the supplier screen to expense accounts, but then use different GL accounts for items created for that supplier will everything work properly?

I guess I'm just a little confused about the reason for having the GL accounts defined in both the supplier and the item.

Thanks for all the help!

FrontAccounting forum — Supplier vs Item GL Accounts

Re: Supplier vs Item GL Accounts

Supplier vs Item GL Accounts