Can any one tell how to configure COGS and show in Chart of accounts
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good answer by @Anjana.
after creating this Cost of Goods Sold head you need to configure it,
go to product category------>and in expense account change expense to cost of good sold head.
and import thing is put cost price of product before it.
Yes for trading buisness need to configure this way.
Hi,
Just click on chart of accounts, create a unique code->put name as cost of goods sold->and type as cost of revenue and the currency should be INR.
Click on save and its done.
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