Delivery Later must refer to SO and the sales invoice to be issued before delivery note.
When booking invoice of delivery later, a double entry of Inventory Transactions entries to be generate for off-set the transaction.
The inventory entry will be generated when the delivery note is posted.
Sample entries for delivery later as below:
Transaction | Dr. | Cr. | |
---|---|---|---|
Sales Invoice | Entry 1 | COGS | Inventory |
Entry 2 | Inventory | GOGS | |
Entry 3 | Sales | Account Receivable | |
Shipment | Entry 4 | COGS (Interim) | Inventory (Interim) |