Profit and Loss report

Question

Hi all - first time user of this Community

I an using Reckons Account Plus and operate all accounts/reports on a cash basis

Currently, the P and L report I generate,  uses Cost of Goods Sold on the second line (under Sales). This obviously uses average costs of purchases etc to generate this figure

I want to simplify the report so that rather than Cost of Goods sold on the second line, I just need price of actual purchases made during that month.

I figure I could go into each stock item and designate it as STOCK rather than COST OF GOODS SOLD (so it appears as an Expense further down the report) but as I have hundreds of stock items, this would be very time consuming.

Can't work out in the filters how I can achieve this?

Any help appreciated

Regards

Phil

Acctd4 · Answer

Yes @PhilWright, that's correct 😊

PhilWright · Answer

Thanks for that - so for the moment if I substitute the total figure from the Purchases report for the figure in the Cost of Goods Sold line in the P and L report, I should be be close to the mark?

Acctd4 · Answer

Welcome to the Community Phil! 👋🏻

COGS is re-calculated automatically by the system, based on the cost of your inventory purchases v the quantity held.

Yes, if you want to just see the actual expenditure in your P&L, you would need to link all inventory Items to an Expense account(s) (rather than COGS)

Alternatively, you can view actual costs from a variety of the Supplier, Purchases & Inventory reports ☺️