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COGS details in B1

In B1, how can I see how my cost of goods sold amount on my profit and loss statement is calculated?

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  • Best Answer
    Posted on Aug 01, 2020 at 10:49 AM

    Hello,

    If you look into the Journal Entry of the Delivery, it will show the figures that are posted into

    Stock Account Cr

    COGS Account Dr

    And to the respective A/R Invoice, the Journal Entry will as follows

    Customer Account Dr

    Revenue Account Cr

    If there are no Delivery and there is direct A/R Invoice, the Journal Entry will be:

    Customer Account Dr

    Stock Account Cr

    COGS Account Dr

    Revenue Account Cr

    And these will be reflecting in the Profit and Loss statement.

    Thanks.

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