Costed Items Accrual Report

The Costed Items Accrual Report is used to identify items that have been costed outside of a period in which the transaction should have occurred. It highlights the invoices that costed when cost of goods was run in an accounting period that does not match the date range for the actual invoice date. For example, if the period beginning and ending dates for period 01 are 01/01/09 – 01/31/09 and an invoice with a date of 12/31/08 was costed in period 01, it will be included in the accrual report because the transaction date (12/31/08) is outside of the period dates (01/01/09 – 01/31/09) in which the cost of goods was run.

The report lists the details of all invoices that costed in a different period with a recommended journal entry summarizing the account distribution for a reversing journal entry to the inventory and cost of goods sold account defined in the sales category assigned to the items.

Security Required : Inventory - Cost of Goods Sold