Posted in Accounting, OpenERP, Product, Stock

How to work with real-time Stock valuation in OpenERP ?


In OpenERP, stock management is completely integrated with the accounts, to give strong coherence between the two systems. The double-entry structure of locations enables a very precise correspondence between stocks and accounts.

Each stock movement also generates a corresponding accounting entry in an accounting journal to ensure that the two systems can stay in permanent synchronization.

How to Configure Accounting Valuation?

We are taking an example of one product as shown in below screen with different sale price and cost price.

Now go to the Accounting tab and select the Real Time (automated) option for Inventory Valuation,

You have to define Stock Input Account, Stock Output Accounts here as shown in below screen.

Now we are creating a sales order having 2 products to sale.

After confirming the sales order, we have to do rest of the process for delivery from warehouse.

Once we complete product delivery process, we will check Journal Entry.

Go to the Journal Entries from Accounting menu and we can see the unposted entry created here in which we can see partner is the same we have selected in our Sales Order.

Here we can see that, the amount considered is the cost price of product Basic PC. As we have selected 2 products in our sales order so journal entries are accordingly in screen.

Now from here, we can post the entries and can perform rest of the stuff which are required for accounting.

 

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Specialised in OpenERP/CRM Solutions, software development, Web development, E commerce solutions & other open source solutions.

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