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Newbi issue
01-03-2013, 09:52 PM
Post: #1
Newbi issue
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?
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01-04-2013, 06:03 AM (This post was last modified: 01-04-2013 06:06 AM by phil.)
Post: #2
RE: Newbi issue
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.

Phil Daintree
webERP Admin
Logic Works Ltd
http://www.logicworks.co.nz
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