Purchase value not getting tallied with COGS account and Sales Value

[Former Member]

Dear all !

In a trading company , stock value is not tallying with Purchase - Purchase return - COGS value.

Item Valuation method is Moving average.

Purchases during 10-11 -

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Rs.5,43,40,640.18

Less : Purchase Return----

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Rs. 22,22,197.93

-

---

-

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Rs. 5,21,18,442.25

Less:Cost of Goods Sold----

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Rs.4,78,70,113.70

-

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Closing Stock 31.03.11----

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Rs. 42,48,328.55

Stock showed in SAP----

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Rs. 46,86,369.28

=====================================

Difference----

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Rs. 4,38,040.73

There is no opening balance hence auditor ask query for the difference and please explain how the difference come.

Kindly let us know idea on this.

[Former Member]

Please check whether your account are properly mapped .and had u completed all the documents

[Former Member]

GL mapping are all correct.

could u plz let me know what are the accounts needed to be checked ?

[Former Member]

Hi,

You can check all variance accounts.

Thanks,

Gordon