To gain better understanding of your business’ financial health, you need to understand the figures in your financial statements through your company accounts. This serves as indicators on the overall performance of your business. We have added a new feature to bring the most accurate information based from the performance of each of your business branches, warehouses or stores, the Sales Analysis by Location. With this feature, you can now filter account codes based on the location.
In the Accounting module, the journals created and the account codes used are based on Inventory Location Accounts setup. These journal entries can now be used in many forms such as Sales Invoice, Credit Memo, Goods Received, Bill, Debit Memo and Inventory transactions.
Set Up Accounting Preferences
You need to enable Sales Analysis by Location in the Accounting module preferences. This option lets the system generate a journal entry that will adjust the values posted to the current Inventory account / COGS account and will be transferred to the account code assigned to the other locations. The system will detect if there are transactions created from other locations so values will be automatically adjusted and transferred.
Click Image to Enlarge
In order to fully utilize this feature, you need to set up different general ledger accounts to be used for the different locations.
Assign Account Codes to a Location
The Location form is now improved in which you can view what account codes are used from a specific location. For a newly created location, the default account code that will be used will come from the Accounting Default Account. The Account codes assigned will depend on the list of categories. For an existing location, you may modify and update the account codes used.
To assign account codes, you may navigate to Inventory module > Location > Find Location. Select the Location you want to update or modify the account code.
Click Image to Enlarge
You can also import account codes in the Accounting module so that you can assign it in various location accounts.
For more information on this feature, please refer to the online documentation about how to Configure Accounnting Module Preferences.