Delivery Note-Accounting Entry

Dear All,

I would like to raise the issue regarding the pending delivery notes for end of the year.

As i understood, when we issue the delivery note, the accounting entry will be done as “Dr. Cost of Goods Sold and Cr. Inventory”. if the entry is generated on 31-12-2019 the cost of the item will hit in Profit and Loss and if i make the sales invoice of this delivery note on 5-1-2020 the sales will be post on year 2020.

So my question is , how can i solve this issue.
My client has generated around cost of Rs.25000/- delivery note which has been hit in the cost of goods sold in year 2019, where the sales invoice for the same will be generate in 2020.

Should i cancel the all the pending delivery note of 2019 and regenerate in 2020 or there can be another option to assign different GL for delivery note process and same gl can close with sales invoice.

Appreciate your help.


Either cancel it and re-issue as you said, or issue a Journal Entry for 2020 to make the appropriate GL accounts.