on 09-21-2008 8:35 AM
How do we present/track the value of material consumption, in PROFIT & LOSS ACCOUNT of SAP Business One 2005 B PL-41?
Material Consumption = Opening Stock + Purchase (Material) - Closing Stock
(all above values in currency INR)
As of now in our setup, the material cost is debited to COST OF GOODS account of finished goods
What we want is, details of material wise consumption in PROFIT & LOSS ACCOUNT.
Its very necessary in manufacturing industry and also as per Indian accounting standards.
Abhijit,
Your COGS accounts should be present under the 'Cost of Sales' drawer in your CoA. Here in Thailand, we use the 2007A version of SBO, so im not sure what is this drawer called in your version (should be the same).
The Cost of Sales accounts shoudl in any case appear in your P&L reports. The accounts under this would be generally defined as 5XXXXXX.
Lest this is not in your case, you shoudl probably consult an accounts practitioner regarding your CoA design.
Cheers.
You must be a registered user to add a comment. If you've already registered, sign in. Otherwise, register and sign in.
Hi Experts
I thing that item group like
1.Raw Materials
2. consumables
3.Consumable Oil
4.Consumable Tools it that item group has one accounting tap in that accounting tap we have to give relavent COGS account right.
Ex: if it is a raw material, itemgroup>accounting tap>Raw material - cost of goods sold account.
so that it will come to profit & loss account expenditure side right.
Pls let me know
regards
Hi Abhijit,
Were you able to resolve your original question regarding setting up the chart of account for P&L purposes (using the COGS account for displaying the RM expenses).
In India the accounts departments use the (Opening Stock + Purchase-Closing Stock) to find out the Consumption in a period.
Regards
Manish
Edited by: Paulo Calado on Jun 18, 2009 5:19 PM
User | Count |
---|---|
108 | |
12 | |
11 | |
6 | |
5 | |
4 | |
3 | |
3 | |
3 | |
3 |
You must be a registered user to add a comment. If you've already registered, sign in. Otherwise, register and sign in.