Asking about accounting method
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Hello, i have been using FIFO accounting method since the last time i have this problem. And today i still have this minus profit. I noticied that there "Average Cost Method" on the list but i never use it. If i use FIFO how they calculate the profit ? I see a "sma_warehouses_product" table and there is "avg_cost" column inside it. Is this happend only to me or there is some of your customer too ?
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Hello,
Please refer to documentation.pdf for the inventory accounting methods, they are already explain there.
FIFO, first in first out, has nothing to do with avg_cost but the purchased cost from sma_purcahse_items table. avg_cost is only used if you have selected the AVCO method.
You can check the docs and if anything not clear let me know.
Thank you
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I bought 2 licenses, one for shop A and one for shop B. Both of them have the latest version, the one with minus product was shop B. I tried purchase a product 2 times with a diff purchase price and it show the correct calculation. So im assuming the "avg_cost" doesnt have anything to do with this problem.
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Hi, if you still have troubles in tat matter let me know i can help you in that thing as i did a long investigation and know exactly 100% how AVCO and FIFO works.
just let me know you still need help.
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If i purchases an item qty 50 in $10 and sale in $15, then again purchases qty 50 in $15 and sale in $20. Then sale qty 100, i want to sell qty 50 in $15 and remaining 50 in $20. How can i do that ?
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I am using FIFO method
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