Journal Entries — Shipments

Assigned source code IC-SH on the G/L Transactions report. Sales returns are assigned IC-SR.

Shipment transactions debit the item's cost of goods sold account, and credit the general ledger inventory control account.

If an item's costing method is the standard method or the most recent cost method, then the item's cost variance account is debited or credited with the difference between the standard or most recent cost, and the weighted average cost of the items shipped.

Sage ERP Accpac Accounts Receivable. When you enter the related customer invoices in Accounts Receivable, you must credit the sales accounts and the necessary tax accounts, and debit your customer accounts.