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age

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  1. Additionally, get to post the all purchases for the period by simply (and of course after you must have created the cost of sales via the chart of account) raise journal by Debit Purchases amount and Credit Cost of goods sold. Then you should have your Gross profit. That will automatically reduce the inventory in the balance sheet Hope this help. It is important to note, the accounts are usual prepared at the end of 12 calender month but you track your progress daily/monthly.
  2. I'm having similar problem and then i remembered it is not be so easy. For instance quite a number of costs goes in to producing cost of sales, putting all those together may not be easy to automate. I think is best we hear from the forum admin or the support team. If you can get the cost of sales listed in the chart of account, it may be helpful to do a manual calculation then use journal to pass the entry say at the end of the year. You could keep an monthly excel sheet to keep track of the the cost of good sold.
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