- ERP
- Sales
- Sales Process
- Transactions Triggered by Sales Process Documents
Transactions Triggered by Sales Process Documents
Impact on the inventory, the transaction journal and other journals
The sales documents adjust the inventory quantities, update the transaction journal and affect the related journals as follows:
- A price list affects the Sales pricing journal where the prices defined in the price list are stored.
- A sales quotation does not have an inventory or accounting impact.
- A sales order makes stock reservation on specified goods and affects the inventory quantity available for sale affecting the Inventory journal. In postings triggered by sales orders, items are assigned the state Reserved and the status Without invoice, their quantities and cost are recorded as negative values.
- A delivery updates the Inventory journal by canceling the reservation of goods made by the preceding sales order and reducing the quantity of goods in stock. The document triggers two postings. In a posting that cancels stock reservation, items are assigned the state Reserved and the status Without invoice, their quantities and cost are recorded as positive values. In a posting that reduced the in-stock quantity, items are assigned the state In Stock and the status Without invoice, their quantities and cost are recorded as negative values. It also triggers an accounting transaction from the Inventory account (crediting it) to the Transit account (debiting it), the transaction being recorded in the Transaction journal.
- An invoice makes a number of accounting transactions recording revenues and cost of goods sold, expenses and taxes. It also changes customer accounts balances та decreases the Inventory or Transit accounts. Invoices created based on deliveries close debit transaction to the Transit account (crediting it) and debit the COGS account, the transactions being recorded in the Transaction journal and the Profitability journal. The transactions also impact the Inventory journal changing item status from the Without invoice status to the With invoice status. As a result, two journal entries are made to the Inventory journal. At first, items are assigned the state In Stock and the status Without invoice, their quantities and cost are recorded as positive values. After that, items are assigned the state In Stock and the status With invoice, their quantities and cost are recorded as negative values. Also, you can create invoices without reference to delivery documents. In this case, you do not have to create a delivery document to precede an invoice as invoices function as deliveries in Codejig ERP. Such invoices that are used as deliveries reduce the quantity of goods in stock and do not affect the Transit account. Regardless of whether invoices are based on deliveries or are used as deliveries, they affect the Transaction journal, the Sales journal (debiting receivables), the Profitability journal (crediting incomes received) and the VAT journal (crediting VAT liabilities).
- A credit note increases the in-stock quantity and decreases the receivables, income received and VAT liabilities. It reverses or corrects the original transactions made by an invoice and makes respective journal entries to the same journals as the invoice.