Inventory

Hello,
I have just started using inventory with Peachtree Complete 2002. Peachtree receives stock items but only posts the transaction to either the inventory account or the sales account. If all reports are to be correct, it has to post to both. What did I do wrong?
Reply to
William C. Smith
If I understand your question correctly....the receipt of a stock inventory item will "credit" the accounts payable and "debit" to inventory account. That is a balanced transaction.
If your problem is other than above, suggest you repost your question with more detail.
Reply to
D Drake
"D Drake" wrote in news:qhLZg.84915$ snipped-for-privacy@bgtnsc04-news.ops.worldnet.att.net:
Thank you D Drake,
I am not an accountant and misunderstood how inventory works. I was expecting postins at purchase time that actually happen at sale time. All is well.
Reply to
William C. Smith

BeanSmart website is not affiliated with any of the manufacturers or service providers discussed here. All logos and trade names are the property of their respective owners.