• From: UK
  • Registered: 10/11/2009
  • Posts: 50

Topic: Shipping Charged Account question

I have set the Shipping Charged Account in System and General GL Setup to 5202 (Carriage) in my setup using English - Great Britain - General chart of accounts.

This carriage account is under the Cost of Goods Sold category which is of the class Costs, Cost is of type expense.

I am just wondering if this is the correct account I should be using for the Shipping Charged Account?

  • joe
  • Administrator
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  • Registered: 03/15/2007
  • Posts: 5,107

Re: Shipping Charged Account question

You are right, it should be an income account (you charge your customer for this amount). I have created a new account, called 4910 Shipping. And put this on GL Setup for Freight.
The changes are uploaded to Website.

So please make this change locally. Thanks smile

/Joe

  • From: UK
  • Registered: 10/11/2009
  • Posts: 50

Re: Shipping Charged Account question

I have updated my setup with the new account.

Is there any way I can move the values currently stored in the carriage account to this new shipping account so everything is correct?

I think the Journal Entry page might be able to do it but am not quite sure what I need to add to keep everything correct?

Currently I have 11.50 credit in the carriage account but would like to move this to the new shipping account.

Do I just debit the carriage account with 11.50 and credit the shipping account with 11.50?

  • joe
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  • Registered: 03/15/2007
  • Posts: 5,107

Re: Shipping Charged Account question

Yes, kerrsmith,
You are on your way to be a pro Accountant smile. Yes, just debit the old account and credit the new account with the value 11.50. And maybe make a memo about it.

  • From: UK
  • Registered: 10/11/2009
  • Posts: 50

Re: Shipping Charged Account question

This worked, thanks!