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Newbi issue - Printable Version

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Newbi issue - avocado - 01-03-2013

Can anyone help me , or point to me how and when "cost of goods sold" is used?

I have a restaurant business, so items purchased are not the same as items sold, yet I find cost-of-goods-sold with some data in it in trial balance.

is that normal or a mis-configuration?


RE: Newbi issue - phil - 01-04-2013

Every time any item is sold - and the stock is integrated to the GL - there is a GL journal between COGS and stock. THe COGS - cost of goods sold - GL account is determined from the COGS GL Postings setup table.

In a restaurant, if items are defined as normal stock items, these postings will be created unless you defne your food as service or dummy items.