Sales of Stock Items: Generated Transactions
To be able to process a sale of stock items, you create and process a sales order. The following sections describe the GL transactions generated during processing the documents for a sale of stock items.
Transactions Generated for an SO Invoice
When you create and release an SO invoice with one line with a stock item, the system generates the following general ledger transactions:
| Account | Source of Account | Debit | Credit |
|---|---|---|---|
| Accounts Receivable account | Customer | Amount | 0.00 |
| Sales account | Depends on the settings of the order type on the Order Types (SO201000) form. | 0.00 | Amount |
You can view the reference number of the GL batch in the Batch Nbr. box on the Financial tab of the Invoices (SO303000) form. You can click the link in this box to view the details of the batch on the Journal Transactions (GL301000) form.
Transactions Generated for Inventory Issue
On release of the SO invoice, the system generates an inventory issue transaction with the line that has the Invoice transaction type. When an inventory issue with one line of the Invoice type is released, the system generates the following general ledger transactions:
| Account | Source of Account | Debit | Credit |
|---|---|---|---|
| Inventory account | Depends on the settings of the posting class of the item specified on the Posting Classes (IN206000) form) | 0.00 | Amount |
| GOGS account | Depends on the settings of the posting class of the item specified on the Posting Classes (IN206000) form) | Amount | 0.00 |
You can view the reference number of the GL batch in the Batch Nbr. box on the Financial tab of the Issues (IN302000) form. You can click the link in this box to view the details of the batch on the Journal Transactions (GL301000) form.