Accounting Document at PGI

[former_member185462]

Hi,

The below will be the accounting document created at the time of PGI

COGS Dr

Inventory A/c Cr

My doubt is how this COGS a/c will offset.

Kindly help me out.

Pradeep.M

[phanikumar_v3]

My doubt is how this COGS a/c will offset.
Kindly help me out.

As suggested you cannot offset--but can tell you how this will be determined..

Ans:Through your Movement type--needless to mention that will be retrieved from Your schedule line..

You can see COGS in sales order itself..See the screen shot..

For better understanding--follow the thread

Phanikumar

[former_member187610]

Hi Pradeep,

Cost of Goods Sold A/c Dr. (Will be shown under P&L A/c Debit)

             To Stock A/c Cr. (Will be shown under the Assets of Balance sheet)

Regards,

Sharan

[Lakshmipathi]

My doubt is how this COGS a/c will offset

You mean credit entry?   To sell a product, you incur some expenses which would be your COGS and how come, this would be credited?  Unless you create a return delivery, there won't be any credit entry. Ideally, this should have been posted in FI forum.

G. Lakshmipathi

[moazzam_ali]

Hi

COGS never gets offset. It is profit n loss GL and when you do PGI systems posts cost of good sold expene. When you invoice customer you book revenue. With this cost is booked at the time of PGI and revenue is booked at the time of invoice so what do you mean by offset?

Thank$