Inventory

Posted by William C. Smith on October 18, 2006, 5:39 pm

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Hello,

I have just started using inventory with Peachtree Complete 2002. Peachtree
receives stock items but only posts the transaction to either the inventory
account or the sales account. If all reports are to be correct, it has to
post to both. What did I do wrong?

--
Bill

Posted by D Drake on October 19, 2006, 9:42 am

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If I understand your question correctly....the receipt of a stock inventory
item will "credit" the accounts payable and "debit" to inventory account.
That is a balanced transaction.

If your problem is other than above, suggest you repost your question with
more detail.

"William C. Smith" <wcsmithx*xieee.org> wrote in message

> Hello,

> I have just started using inventory with Peachtree Complete 2002.

> Peachtree

> receives stock items but only posts the transaction to either the

> inventory

> account or the sales account. If all reports are to be correct, it has to

> post to both. What did I do wrong?

> --

> Bill

Posted by William C. Smith on October 19, 2006, 6:35 pm

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Thank you D Drake,

I am not an accountant and misunderstood how inventory works. I
was expecting postins at purchase time that actually happen at sale time.
All is well.

> If I understand your question correctly....the receipt of a stock

> inventory item will "credit" the accounts payable and "debit" to

> inventory account. That is a balanced transaction.

> If your problem is other than above, suggest you repost your question

> with more detail.

> "William C. Smith" <wcsmithx*xieee.org> wrote in message

>> Hello,

>> I have just started using inventory with Peachtree Complete 2002.

>> Peachtree

>> receives stock items but only posts the transaction to either the

>> inventory

>> account or the sales account. If all reports are to be correct, it

>> has to post to both. What did I do wrong?

>> --

>> Bill

--
Bill