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Cost of Goods Sold Table; It is an auxiliary financial statement that shows the stock movements of businesses during the period, production costs, costs of goods sold, costs of services sold.

Path: ERP > Finance-Accounting > Accounting Statements > Cost of Goods Sold Table

Recommendation:In order to get accurate results from the cost of goods sold table, table definitions (for information, you can read the article titled "Cost of Sales Table Definitions") should be made by cost accounting experts.

Cost of Goods Sold. The table is used as an auxiliary financial statement among the cost accounting tables and completes the income statement like an appendix to the income statement.

In short, the purposes of cost accounting can be listed as follows;

⦁ To determine the costs of produced goods or services,

⦁ To calculate the values of stocks,

⦁ Helping to prepare future budgets,

⦁ Keeping expenses under control,

⦁ Developing methods to reduce costs,

⦁ Regular, effective and reliable information about costs to managers to give.

Listing the Cost of Goods Sold Table

Let's examine the filtering options in the cost of goods sold table.

1. By choosing from the currencies defined on the system and entering date information, the relevant account definitions are listed in the table. A currency-based table can be created by selecting the currency from the currency section. Current exchange rate information is automatically displayed according to the selected currency. The user can optionally change the exchange rate information on the page manually and list the balance calculations in the table based on the defined exchange rate information.

TAdditional Layout /IFRS Based: It allows creating a table with the existing Chart of Accounts or IFRS Codes. Note: In order to use this feature, IFRS codes must be defined in the chart of accounts definitions in the relevant period. (To activate the use of IFRS, the "Use IFRS Code option from the Company Flow Parameters" must be selected as "Yes" and the system must be logged in again.)

Archive icon is saved on a separate page after the table is listed. Allows retrospective reporting. Archived tables can be accessed from the "Cost of Goods Sold Table - Archive" page.

2. Branch: Provides branch-based separation of the table received in businesses that carry out branch-based transactions, and balances are listed based on the transactions of the selected branch.

3. Opening Slip: Balances in the table are listed according to the slip types selected in the list. If no selection is made, all voucher types in the list are included.

If the "Only Those with Balance" Checkbox is checked, items with a balance of 0 (zero) will not be listed.

Note: The cost of goods sold table is also based on a periodic basis, just like the income statement. is prepared. This table shows the figures that will go to the cost of sales item on the income statement. The total cost of sales consists of four main components. These are:

Cost of Goods Sold
Cost of Commercial Goods Sold
Cost of Services Sold
Cost of Other Sales (For example, if scrap is sold, that is, costs that are not included in basic operations)

Archived goods sold cost tables are located in the archive section under Accounting Statements.

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About Workcube Objects

Cost of Good Sold Statement

It is an auxiliary financial statement that shows the stock movements of businesses during the period, production costs, costs of goods sold, costs of services sold.

Type: WBO Version: Catalsyt v6 Licence: Standard Author: Workcube Core