We moved to quickbooks last year and concerned at the profit and loss not being correct . I completely understand about FIFO etc as well. Have a scenario where I have invoiced goods out BEFORE getting a BILL. For example.(all in ex GST for sake of excercise) Sell widgets at $10 x 100 = $1000 (assume $1000 profit as negative stock) Buy widgets at $7 x 100 = $700 (assume GP drops down to $300 as there is a cost) In some circumstances profit does not move and others it will adjust down but less than $700 cost meaning showing more profit than actually made. I have tried doing a BILL then a SALE , no issues. Only happens when selling BEFORE the bill, which is about 80% of our sales to get invoice to client to pay before goods come in. My concern is I now have 2 years of data with this concern Any help or anyone seen similar??
