Post Reply 
 
Thread Rating:
  • 0 Votes - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
Trial Balance: Difference between "Sales" and "Revenue"
08-03-2013, 12:21 AM
Post: #1
Trial Balance: Difference between "Sales" and "Revenue"
Hi,

could somebody please help me to understand the difference between "Sales" and "Revenue" in the Trial Balance?

I have an amount appearing in "Sales, Account 1 Default Sales/Discounts", and I don't quite understand why. To me it seems that the same amount is also included in "Revenue, 4100 Product/ Service Sales".

I might have made mistake when posting, and I want to double check that I did not do some double posting, or that I missed something.

Also, the amount in "Sales" is shown as a positive amount, while amounts in "Revenue" are shown negative.

As always, any help would be greatly appreciated.

MacPhotoBiker
Just Core Business Inc.
[url]http://www.justcorebusiness.com[/url]
Find all posts by this user
Quote this message in a reply
08-06-2013, 08:44 AM
Post: #2
RE: Trial Balance: Difference between "Sales" and "Revenue"
Hi,
This default account is created when the data in SalesGLPosting.php is not set up correctly. You need to define how sales are posted to the general ledger for each sales area, inventory category, sales type combination or set up up some defaults in this script.
Also the cogs gl postings need to be set up too in the COGSGLPosting.php form.

Phil Daintree
webERP Admin
Logic Works Ltd
http://www.logicworks.co.nz
Visit this user's website Find all posts by this user
Quote this message in a reply
Post Reply 


Forum Jump:


User(s) browsing this thread: 1 Guest(s)