Please your advise how to apply the following steps in ERPNEXT
- My factory receive many quantities of raw material during the month from the supplier without getting purchase invoices ( only delivery note received from that supplier) .
- I have to record these received quantities ( with zero rate) in my system in order to create the production order and material transfer.
- By end of month i will receive the main purchase invoice ( qty & rate ) which should be recorded in my system .
-Now the question is " how to make ERPNEXT recalculate the cost of all stock movement transaction ( production order & material transfer & sales invoices ) and also update the cost of the remaining quantities in my stock book".
The conventional way to do this, I think, would just be to cancel the transactions and resubmit. I’m certainly not an expert, but doing it any other way seems like a bad accounting practice.
With your case there would be two statement:
- If rates are fix:- If the rates are pre-define then the MRN can be done based on Purchase Order and all these MRNs can be merge with single Purchase Invoice on month end.
- If rates vary: If rates vary every month then it is really difficult as I am also looking for this solution.
I have the same issue, We need to have the option to update prices or should be able have the option when we create Purchase Invoice to update all related costs for eg: Landed Cost, BOM reconciled stock , Gross profit etc. of the same Batch. Cancel and Submit will not work when we maintain Batch Inventory.
Also better remove Save/Submit/Cancel, its a tedious process, we should have simple option to Edit and if we are concern about anybody making changes, they should assign the permissions to responsible people and track changes. So that we know if anyone makes any mistakes.
Please let us know if any one has understanding and can work on this , we are ready to sponsor.
There is a Landed cost Voucher which is used to add any additional cost to the value of the item.
So the work flow for this use case should be:
- Make Purchase Receipt with items, correct quantity and zero rate.
- Make Landed cost voucher select the Purchase Receipt and it will pull all the items, qty and price (which is zero)
- Add cost to it Description of the new cost that needs to be added to this items value. Add the cost.
- Select Distribution of the Cost on QTY or Amount base.
- Save and Submit
This will increase the valuation of the stock which was received in that Purchase Receipt.
Once the Actual invoice is received from the supplier just make a purchase invoice, select all the items and put the correct cost and dont update stock.
So in the first landed cost voucher document your cost of stock value have increased while in purchase invoice way your accounts payable have been entered in the system.
You can close the purchase receipt which will show to bill.
hope this is helpful
Please help how can I maintain my stock which is not purchased but we produced.
We have cow milk and vegetables .
But it is asking valuation.
I need only sale don’t need stock .
But I need inventory.
Profit and loss shows cost of goods sold. I don’t need this shows in p/l account.
Can I maintain inventory only in sale items. We don’t purchase but sale cow milk and vegetables.
We produce ourselves in farm.
How I can maintain inventory . I don’t not need cost of goods sold in pl account.
Enter valuation rate as 0.01 and make stock entry material receipt instead of purchase receipt.
Cost of goods sold will always be there but it will only show a minimal value if we use 0.01 as valuation rate
Thanks doing that way.
How can I buy asset.
I make a asset item and going to purchase but the below message is coming. Try and try but not solved the issue.
Please check message attachment.