The cost of goods sold (CGS) is posted to G/L after the sales transactions. The transaction is performed after goods sold are posted. In other words, the Cost Of Goods Sold cannot be posted to G/L before the sales invoice is posted to G/L. The Journal Slip generated as a result of this transaction contains the cost of the material.
Generating CGS G/L Slips
The cost of goods sold G/L slips are generated using two methods.
- Using the Generate CGS G/L Slips option located in the right click menu of the Sales Invoices browser,
- Using the Batch Generate CGS G/L Slips option located under the Operations menu of the General Ledger module.
Batch CGS G/L slip generation is performed using the Batch Generate CGS G/L Slips option located under the Operations menu of the General Ledger module.
Batch CGS generation conditions are specified on the filter lines. The filter options are:
Filter | Value |
Date Range | Start / End |
Organizational Unit | Group / Range |
Warehouse | Group / Range |
Invoice Number | Group / Range |
Invoice Aux. Code | Group / Range |
Invoice Authorization Code | Group / Range |
Invoice Type | Retail Sales Return Invoice / Wholesale Return Invoice / Retail Sales Invoice / Wholesale Invoice |
Run Cost Maintenance First | Yes / No |
Type of Journal Entry for CGS | Current Costs / Costs of Differences |
Account Plan | Main Chart of Accounts / Second Chart of Accounts / Third Chart of Accounts / Consolidated Main Chart of Accounts / Consolidated Second Chart of Accounts / Consolidated Third Chart of Accounts |
Costs are generated according to the selection made on the CGS Generation filter line.
When Current Costs is selected, a CGS is generated for the current costs of sales invoices posted to G/L.
When Cost of Differences is selected instead, a CGS is generated for any cost difference occurred due to any reason such as price differences in sales invoices for which CGS is already generated.