{"id":4068,"date":"2013-05-10T12:28:48","date_gmt":"2013-05-10T10:28:48","guid":{"rendered":"http:\/\/www.officetodo.com\/public\/?p=4068"},"modified":"2013-05-05T12:29:38","modified_gmt":"2013-05-05T10:29:38","slug":"a-sale-was-credited-what-happens-with-related-expenses-made-into-cost-of-sales","status":"publish","type":"post","link":"http:\/\/www.officetodo.com\/public\/a-sale-was-credited-what-happens-with-related-expenses-made-into-cost-of-sales\/","title":{"rendered":"A sale was credited, what happens with related expenses made into \u201ccost of sales\u201d?"},"content":{"rendered":"

It depends. Everything depends, I know, but in a situation like this, the answer depends on why the sale was credited:\u00a0<\/p>\n

    \n
  1. Details on the invoice were wrong (i.e. the selling price or the buyer\u2019s name) \u2013 nothing should be changed when it comes to expenses. In this case just the information or selling price (something that initiated the sale crediting presumably) is wrong and not the goods or their amount \u2013 expenses were accounted correctly.<\/li>\n
  2. The goods themself on the invoice were wrong (goods shipped were correct) \u2013 whether it\u2019s quantity or the actual item, it requires an amending entry into expenses (taking the original entry back and making the correct one).<\/li>\n
  3. Both the goods on the invoice and goods that were shipped were wrong \u2013 apart from the fact that you also need to reship the correct goods, you also need to treat this situation as the previous one (number 2 example).<\/li>\n
  4. Someone made a double invoice \u2013 unless your client actually wanted this similar sale (and the double goods), you should take back the expenses. No other entry is needed in this case.<\/li>\n<\/ol>\n

    Obviously there are other situations where sales could be credited, but keep in mind the main rule when it comes to treating the relating expenses \u2013 if the expenses already accounted remain the same regardless (i.e. the goods on the invoice were right, just their selling price was incorrect) nothing really should be amended when it comes to expenses).<\/p>\n","protected":false},"excerpt":{"rendered":"

    It depends. Everything depends, I know, but in a situation like this, the answer depends on why the sale was credited:\u00a0<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25,40],"tags":[],"class_list":["post-4068","post","type-post","status-publish","format-standard","hentry","category-1-basic-accounting","category-1-12-expenses"],"aioseo_notices":[],"_links":{"self":[{"href":"http:\/\/www.officetodo.com\/public\/wp-json\/wp\/v2\/posts\/4068","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.officetodo.com\/public\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.officetodo.com\/public\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.officetodo.com\/public\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.officetodo.com\/public\/wp-json\/wp\/v2\/comments?post=4068"}],"version-history":[{"count":2,"href":"http:\/\/www.officetodo.com\/public\/wp-json\/wp\/v2\/posts\/4068\/revisions"}],"predecessor-version":[{"id":4071,"href":"http:\/\/www.officetodo.com\/public\/wp-json\/wp\/v2\/posts\/4068\/revisions\/4071"}],"wp:attachment":[{"href":"http:\/\/www.officetodo.com\/public\/wp-json\/wp\/v2\/media?parent=4068"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.officetodo.com\/public\/wp-json\/wp\/v2\/categories?post=4068"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.officetodo.com\/public\/wp-json\/wp\/v2\/tags?post=4068"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}