Job Costing discrepancy

Help please for a novice. When I am running a"transaction detail by account" report it is showing all items invoiced to the customer, however it is also showing a debit for one of the items which doesn't make any sens to me.

The job is entered as an estimate, then a purchase order. When products arrive they are entered as a bill against the purchase order which is done numerous times a month however on this job it is showing this discrepancy. I hope I am explaining myself ok as I don't really understand what is going on. Hopefully someone can shed some light for me please.

Comments

Michelle_9656470

Drill down into that invoice (18595) and perhaps when you open the invoice and look at it properly you will see what is going on.

Mandy_9965513

Thanks Michelle, that is what I thought too, however it is not shedding any light on the problem, looks the same as all of my other invoices

Michelle_9656470

But there must be a description next to the line with the "debit"? Was it perhaps a discount given? Or an error when the invoice was prepared which created the "debit"? Do you have a quote of something to refer back to from your sales team/the installer of the job?

Mandy_9965513

You would think so. I am attaching the estimate, purchase order, invoice and bill, maybe you can see something that I can't? I haven't experienced this before so I am at a loss.

Michelle_9656470

They aren't coming through clear enough for me to read when I enlarge. You can send as attachments to my email if you like finance@rcsaustralia.com.au

Mandy_9965513

Will do , thanks for your help

Mandy_9965513

email has been sent from baysunrise2014@gmail.com just in case it goes to trash.

Adrian_6974554

When you are in the invoice, click on Journal. To see where Reckon is posting the components of the invoice to.

It appears it could be something to do with the Profit Item, as all other figures equal what is on the invoice.

Adrian

Graham Boast

Hi Mandy

I think Dorian Crete is set up as an Inventory Item, and in the Item setup the COGS/Purchase Account has been set up as "Sales" rather than "COGS". When you sell the carpet, the Debit that should be going to the COGS Account of $644 is incorrectly going to Sales.

If you correct the COGS account in the item setup, upon saving it will ask you if you wish to update existing transactions. Say Yes, and the transaction should repost to the correct account.

Graham 0409317366
graham@reckonhelp.com.au

Kwikbooks (Professional Partner)

Hi Mandy

I would check out how your items are set up, if they are set up properly for buy and sell all in the one item, and if a sale is going to an expense acct. Also the Profit is not on your transaction report $672.40, unless you have this going to something other than sales.

Kwikbooks (Professional Partner)

Sorry Graham, we were typing at the same time, your post wasn't up when I opened the reply.

Mandy_9965513

Thanks everyone, will check it out when I am back in the office tomorrow.

Mandy_9965513

Thanks guys, problem solved, you were spot on Graham & Kwikbooks. Silly typo that I didn't notice. Thanks for all of the help.

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