Sales with Payments and Prepayments: Generated Transactions
To be able to process a sale of items, you create and process a sales order. The following
sections describe the GL transactions generated during the processing of the documents for a
sale of an item.
Note: Sales orders and shipment documents do not produce any GL
transactions.
Transaction Generated for an SO invoice
When you create and release an SO invoice, the system generates the following general ledger transaction.
| Account | Source of Account | Debit | Credit |
|---|---|---|---|
| Accounts Receivable account | Customer | Amount | 0.00 |
| Sales account | Specified in 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 Details 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.
Transaction Generated on Release of Inventory Issue
When an inventory issue is created and released, the system generates the following general ledger transaction.
| Account | Source of Account | Quantity | Debit | Credit |
|---|---|---|---|---|
| Inventory asset account for line 1 of the sales order | Stock item | Quantity with the minus sign | 0.00 | 0.00 |
| COGS account for line 1 of the sales order | Stock item | Quantity | 0.00 | 0.00 |
| Inventory asset account for line 2 of the sales order | Stock item | Quantity with the minus sign | 0.00 | 0.00 |
| COGS account for line 2 of the sales order | Stock item | Quantity | 0.00 | 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.