Cost of goods sold

karen_9171700

Hi when transferring invoices from ConnectWise to Reckon, we have noticed it is not bringing the correct cost of the goods over to reckon, it is shows other prices.  How do we fix this?  Does this affect our accounts (P&L)  also, how can I change the cost in Reckon per invoice?

John G

Hello Karen,

Welcome to the Reckon Community.

Reckon Accounts uses your purchase transactions of Stock Items to determine the Average Cost.  When you sell the Stock Item the Average Cost at the time of sale is used as the Cost of Goods sold for Gross Profit and P&L determination.  

Average Cost calculation is a process within Reckon Accounts and cannot be altered directly by the user.  Only purchase transactions (Write Cheque, Bills, Supplier Adjustments) will impact on the Average Cost.

I hope this helps you to understand how your transferred invoices have been handled.  


regards,
John.