We can make journal entries to correct in Accounting but we cannot correct the order for sales history.
by: Margaret J. | over a year ago | 1 - Financial Management
Votes
2
We need the ability to update COGS.
by: Margaret J. | over a year ago | 1 - Financial Management
Comments
The cost doesn't originate from the order for direct ship items, for example, so a feature like that solely based on modifying the sales cost would break the inventory and AR audit trail and violate GAAP rules. It's different logic for drop ship and non-inventory items but the rules are similar in that once a document is committed/posted, no further modifications can be made without introducing an audit trail of adjusting transactions or documents. It's one of the ways that data security is maintained.