Reporting - Calculate COGS for Untracked Inventory items: Opening Stock + Purchases - Closing Stock
To make the profit and loss report calculation is based on Cost of Goods Sold = Opening Stock + Purchases - Closing Stock.
Purpose: To get the figures easily in P&L report by deducting the closing stock from purchases.
14
votes
AdminXero Team
(Admin, Xero)
shared this idea
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Megan Mohr commented
Include COGS against Sales for non-tracked items. Eg: if bill is for particular item that is then on-sold, cost should be compared to sale so profit/margin can be easily understood.
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Miguel Ángel Sánchez commented
A pretty good answer is given here pending Xero's introduction:
https://central.xero.com/s/question/0D51N00004BXrgLSAT/yearend-manual-journal-entry-to-nontracked-inventory-asset-accounts -
Lili Huzejrovic commented
Please introduce this function.