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Showing results for tags 'COGS'.
Dear Admin, could you tell me please, that Express Accounts have perpetual Inventory System and how to record in journal. I am facing problem to calculate Cost of Goods Sold in Income statement. Right now I m calculating COGS on each invoice and then making manual journal entry. Thanks
Hello all, have you been able to automatically allocate the COGS as an expense in order to be balanced against the inventory? Within the 'Item' Express Accounts configuration, there is a Cost and Expense option. If EA does not support that, how are you managing to reduce the Inventory value overtime? Thank you for looking into this! Perikles