First, great job Rishab and folks!
I’m trying to configure ERPNext Manufacturing, but have little knowledge about accounting. I see there are “Default Expense Account” and “Default Income Account” for each Item. Which accounts should I select for these fields. I presume these should be different for Raw materials and Manufactured goods (I intend to set this in Item Group). Any pointers regarding this is very much appreciated.
thanks in anticipation,
For “Raw material” you can select any “Default Expense Account” which is provided by ERP next or you can create your own account from “chart of account”(path-> Account module- chart of account -Expenses)
For “Manufacturing” you can select any "Default Income Account"which is provided by ERP next or you can create your own account from “chart of account”
New Indictrans Technologies Pvt. Ltd. - Pune
great, sraddha… thanks!
but could you name the account ledgers, please…? I see a lot of income and expense accounts…
Raw materials should go in “Cost of Goods Sold”
For income, you can create different accounts based on your product lines.