Create / Edit Stock Item Types
Default (Trading Stock) Stock Type:
The entries for the Default (Trading Stock) stock type is as follows:
Trading Stock Items (Default Stock Type) |
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Purchases (Purchase Journal) |
Invoices (Sales Journal) |
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DR |
Stock Item (net cost price - Input Tax Excluded) |
DR |
Debtor (full amount - Output Tax Included) |
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DR |
Input Tax (% of purchase price) |
CR |
Sales (selling price - Output Tax Excluded) |
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CR |
Creditor (full amount - Input Tax Included) |
CR |
Output Tax (% of selling price) |
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Cost of Sales Journal |
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DR |
Cost of Sales (cost price) |
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CR |
Stock (cost price) |
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The transactions for Supplier Returns (Credit Notes received from creditors / suppliers) are exactly the opposite than those of purchase documents (Invoices received from creditors / suppliers).
The transactions for Credit Notes (issued to debtors / customers / clients) are exactly the opposite than those of Invoices.
Trading Stock Items (Default Stock Type) |
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Supplier Returns (Purchase Journal) |
Credit Notes (Sales Journal) |
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DR |
Creditor (full amount - Input Tax Included) |
DR |
Sales (selling price - Output Tax Excluded) |
||
CR |
Stock Item (net cost price - Input Tax Excluded) |
DR |
Output Tax (% of selling price) |
||
CR |
Input Tax (% of purchase price) |
CR |
Debtor (full amount - Output Tax Included) |
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Cost of Sales Journal |
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DR |
Stock (cost price) |
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CR |
Cost of Sales (cost price) |
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All other stock types (excluding the Bills of Materials (BOM) stock type), have no cost of sales transactions.
Other Stock Item Types:
The transactions are similar to those as entered in the various batches. It is as follows:
Other Stock Item Types |
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Purchases (Purchase Journal) |
Invoices (Sales Journal) |
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DR |
Pre-set / selected purchase (expense or asset) account. (purchase price - Input Tax Excluded) |
DR |
Debtor (full amount - Output Tax Included) |
||
DR |
Input Tax (% of purchase price) |
CR |
Sales / selected income account (selling price - Output Tax Excluded) |
||
CR |
Creditor (full amount - Input Tax Included) |
CR |
Output Tax (% of selling price) |
||
The transactions for Supplier Returns (Credit Notes received from creditors / suppliers) are exactly the opposite than those of purchase documents (Invoices received from creditors / suppliers).
The transactions for Credit Notes (issued to debtors / customers / clients) are exactly the opposite than those of Invoices.
Other Stock Item Types |
|||||
Supplier Returns (Purchase Journal) |
Credit Notes (Sales Journal) |
||||
DR |
Creditor (full amount - Input Tax Included) |
DR |
Sales / selected income account (selling price - Output Tax Excluded) |
||
CR |
Pre-set / selected purchase (expense or asset) account. (purchase price - Input Tax Excluded) |
DR |
Output Tax (% of selling price) |
||
CR |
Input Tax (% of purchase price) |
CR |
Debtor (full amount - Output Tax Included) |
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Created with the Personal Edition of HelpNDoc: Benefits of a Help Authoring Tool