HOW TO SETUP STOCK ACCOUNT PRESET



Stock Account Preset Module allows the user to set Account Posting (Sales / Purchase) based on Stocks Items.


Step 1:  

Go to Stock Module > Select Account Preset > Click New




Step 2: Key in relevant information in below fields 


1. Enter the new stock posting account preset code. 


2. Enter the description about this stock posting account preset. 


3. Click and select the account type for sales account, sales return account, cash sales account, purchase account and purchase return account. 


4. Finally, click Save to save the record 

5. Click Close to close the window.




How does it work? 


Example: In Stock Maintenance, set item NAV’s(Norton Antivirus) preset code to SW





If you issue a Sales Invoice with the stock - NAV, system will post the amount to 600-0400 Sales - Software since it is the account that has been assigned under Sales Account in Stock Posting Account Preset for SW Preset Code




Go to Info Tab > Click GL Journals to check the posting account of the stock item used in the transacti





While if you issue a Purchase Invoice with the stock - NAV, system will post the amount to 700-0200 Purchases since it is the account that has been assigned under Purchase Account in Stock Posting Account Preset for SW Preset Code




Go to Info Tab > Click GL Journals to check the posting account of the stock item used in the transaction


 



NOTE:



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