Accounting for Sales Orders & Shipping

Accounting data for sales (and in fact all orders) is posted automatically as various tasks are completed.

Sales orders

Accounting journals are created when the following events occur:

  • Invoicing
    A Sales Invoice journal (SI) to record the revenue and any taxes.
  • Shipping a Goods Out Note (when cost of sales accounting is on)
    A Goods Out journal (GO) to record cost of goods sold.
  • Taking payment
    A Sales Receipt (SR) journal to show money moving into a bank account to clear a customer's invoice balance.

These events can occur in any sequence.

Sales credits

Accounting journals are created when the following events occur:

  • Crediting
    A Sales Credit journal (SC) to record the negative revenue and any taxes.
  • Receiving inventory (when cost of sales accounting is on)
    A Goods In journal (GI) to record inverse cost of goods sold.
  • Refunding payment
    A Sales Receipt (SR) journal to show money moving out of a bank account.

Cost of Sales

Brightpearl uses FIFO valuation for Cost of Sales. The actual price paid for inventory is used when Goods Out Notes are shipped.

If cost of sales accounting is not used then cost of sales must be manually entered into accounting periodically, this is usually done by a stock take and asset valuation.

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