Purchase Invoice added but not reflected in profit and loss statement after adding purchase reciept

ERPNext
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1

Consider the scenario

  • An item worth 50 has been purchased with 10 qty - which is 500
  • Then we sold 2 qty of same item for 70 rupees - which is 140 of profit margin 40 20 per each
  • So Closing stock value is 400 which is 8*50
    Hence the profit and loss statement should be as below

image

2

Hi,

In ERPNEXT entry will be as follows:

Sales - 140
Cost of Goods Sold - 100 (2* 50)
Profit - 40

Closing stock of 400 will reflect in Balance Sheet.

Thanks,

Divyesh Mangroliya

3

Hy @mangroliya Thanks for your reply,
As per your message i should get 40 as my profit.
firstly i created an item and added item price for both selling as 70 and buying as 50
then i created a purchase order with 10 items which cost 500 in total
then i created a purchase invoice against the purchase order also,
after that i created a purchase reciept against the same purchase invoice
then i made a sales invoice with the item of qty 2 which cost of total 140.
but in my profit and loss statement showing 140 as profit
here are the screenshots to refer

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4

@jaassim in sales invoice you might not check option UPDATE STOCK. That’s why your cost of sales is not updated. now you should create delivery note from sales invoice to update cost of sales and stock.

Thanks

5

@Naveed1 thanks for your reply.

6

@Naveed1 is there any settiongs or option to make this checkbox selected always?

7

done through customisation thank you

8

kindly ask to @NCP. He may help you for code.

Thanks