material consumption in the Profit & Loss Account
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.
Somchitra Oun-anulom replied
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.