Daniel,
I understand the point you're trying to make.
An accountant working for a user of OFBiz will want to verify OFBiz's output against manual
calculations. Our accountants do that all the time here where I work. So, if OFBiz is calculating
average cost one way, and the accountant is calcul
Hi
Adrian, I'm starting to wonder if the point I'm trying to make is being
missed.
Yes, I do understand that there are reasons accountants would want to
use another form of cost tracking, most commonly lifo and fifo.
The algorithm I'm suggesting only pertains to the "weighted average"
when the
David E Jones wrote:
With modern systems, especially highly integrated ones like OFBiz, we
can do crazy things to get actual inventory costs and so on, but for
COGS calculations companies often don't want that. Because goods
purchased for resale vary in price and such, and there is often a
I've found this baffling over the years, but Adrian has a strong point
here.
With modern systems, especially highly integrated ones like OFBiz, we
can do crazy things to get actual inventory costs and so on, but for
COGS calculations companies often don't want that. Because goods
purcha
Sorry I hijacked you thread Adrian.
I agree with you about averaging cost.
and there is process that allows for this to come out in the Accounting.
Adrian Crum sent the following on 1/10/2008 12:18 PM:
> Both of you are missing my point. If an accountant chooses to use the
> average cost method fo
Both of you are missing my point. If an accountant chooses to use the average cost method for
inventory, he/she is aware it is an AVERAGE, not a "penny accurate" figure. If an accountant chooses
to use lifo or fifo, then they will expect a more accurate result.
-Adrian
BJ Freeman wrote:
in a
in a double ledger system, both sides when summed must =0
not 0.0001 or greater
so the transactions must be calculated the same way. letting the math
package when to average up or done will not accomplish this.
Same with any calculation that will eventually end up in the accounting
system
.
Chris
> Subject: Re: Accounting Average Cost Algorithm
> From: [EMAIL PROTECTED]
> To: dev@ofbiz.apache.org
> Date: Thu, 10 Jan 2008 11:04:01 -0800
>
> Hi Adrian
>
> I really appreciate your due consideration of the idea, and taking the
> time do share your informa
Hi Adrian
I really appreciate your due consideration of the idea, and taking the
time do share your information. I too believe talking with an accountant
would be a good idea, and yet am fairly certain that penny accuracy is a
very worthwhile endeavor. I think those $800,000 oversights (from the
e
They didn't make it. Oh well. I put them on the Wiki:
http://docs.ofbiz.org/display/OFBIZ/Complete+the+implementation+of+the+Accounting+component+%28GL%29
Adrian Crum wrote:
I've attached some pages from an accounting textbook, let's see if they
get through...
Adrian Crum wrote:
I've found
I've attached some pages from an accounting textbook, let's see if they get
through...
Adrian Crum wrote:
I've found it's best to ask an accountant these types of questions. In
this example, an accountant might expect average cost to be calculated a
certain way, and not worry so much about "
I've found it's best to ask an accountant these types of questions. In this example, an accountant
might expect average cost to be calculated a certain way, and not worry so much about "penny accuracy."
-Adrian
Daniel Kunkel wrote:
Hi
It's so wonderful to see an integrated accounting system
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