Thank you for your reply to my post kvvaradha.
That is a good solution, except then I am keeping track of the weight units sold, as opposed to the gross unit.
Example: I sell 1 unit that is 5 kg 140 grams. To invoice and get the correct price, I would be selling 5.140 units @ $3.20 per kg, instead of 1 unit @ $16.45.
One solution would be to have an item for each of the weights that I would be selling, but then I have an issue with what location to receive the items and how to allocate them for sales locations.
1 02/21/2023 04:35:34 pm
Re: Items sold by weight (3 replies, posted in Items and Inventory)
2 02/19/2023 08:54:05 pm
Topic: Items sold by weight (3 replies, posted in Items and Inventory)
I sell most all of the items by weight. Is there a best practice for setting this up in FA? On my point of sale system I generated a master item, and then had sub-items for each variation of weight.
Thank you for considering my question.
3 02/08/2018 04:40:48 pm
Topic: Payment against Supplier Invoice for GL costs of goods sold (0 replies, posted in Accounts Payable)
In my business I purchase goods for resale from suppliers and sell to customers. Besides the cost of inventory, I allocate costs to the cost of goods sold account. On the purchase order, the supplier is Joe's Supplier. Below is an example of the GL items added:
Code Item # of items Cost per Item Total Cost:
5000 Cases 40 $50 $2,000 (using an inventory item)
(added GL items on the Purchases / Supplier invoice page):
Freight $500
Customs Broker $250
Fed Import Tax $96
Local Freight $100
When I allocate a $2000 payment on the Supplier invoice, it decreases the Payable amount but leaves a balance of the total of the GL amounts. These services and taxes should not be payable to the supplier of the inventory.
How do I account for paying these amounts?
Do I use the Payment link on the Banking and general ledger page?
If I do use the Payment link, do I debit the payment to accounts payable, or directly to the cost of goods sold account?