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Profit loss

Hi ALL,

We created purchase order for the item in which the G/L account is managed by Item Group.

In Item Group -->>Inventory Account is one of the Asset drawer Account.(material and Consumable),then created Invoice.

but when we are generating profit/Loss Statement ,it is not showing how much expenditure we did.against particular item or group ..

why and how to get those values`.

Thanks,

Neetu

Former Member
Former Member replied

If the items are used to produce their product for sales, then they are not normal expenditure but are part of sales cost. Those items should not be an assets.

In other words, they must put them in to COGS account to be reflect on the P&L report.

Thanks,

Gordon

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