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Wish there is an option to easily close inventory and automatically identify inventory valuation change when potentially changing (e.g. LIFO to FIFO e.g. during inflation).
Not featuring a ledger posting for inventory valuation method change at point of closing, user may not easily identify ledger posting accounts and potentially new generated voucher.
at point of valuation from (e.g. balance sheet and profits generated from profit and loss).
REMARK: For more information consult with audit, CFA and CFO and council board.
Not featuring a ledger posting for inventory valuation method change at point of closing, user may not easily identify ledger posting accounts and potentially new generated voucher.
at point of valuation from (e.g. balance sheet and profits generated from profit and loss).
REMARK: For more information consult with audit, CFA and CFO and council board.
STATUS DETAILS
Needs Votes
Comments
REMARK: Example:
DB LIFO Reserved Inventory ledger main account (Balance sheet)
CR LIFO Reserved tax rate ledger main account (Balance sheet)
CR LIFO Reserved retained earnings ledger main account (Balance sheet)
Category: Inventory
REMARK: Example: (e.g. CR cost of goods, CR sales tax and DB inventory) also see inventory valuation reservations offsets.
Category: Inventory