COGS details in B1

[former_member1156052]

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

[msundararaja_perumal · Accepted solution]

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.