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TOPIC: Set up sales journal

Set up sales journal 6 months 1 week ago #36175

  • Fmuraya
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What are the steps required to set up Sales Journal such that stocks, accounts receivables, cost of goods and revenue accounts are automatically journalized by the system? Speciffically where does one set up the Cost of goods sold/Inventory accounts?

E.g. on selling an item bought at 1500 customer x at 2000 the following entries are passed.

Debit Account Receivables 2000
Cost of goods sold 1500
Credit Sales/Revenues 2000
Stocks/Inventory 1500
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