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Friday, July 14, 2017

Distributing Analytical Accounting Details on Sales Transaction Entry ( Cost of Goods Sold and Sales/Reveue )

One of the complex requirements is generate a profit and loss statement per sales channel, which requires distributing all revenue, cost and expenses account per Sales Channel, in order to be able to generate a profit and loss statement with Analytical Accounting Dimension details from the Management Reporter. 

Analytical Accounting - Expenses

Most expenses can be distributed directly, either from the payable, bank or general ledger. It seems to be a straight forward process as you just need to fill out the expenses on the distribution and fill out the associated sales channel directly. 

Analytical Accounting - Revenue and Cost

Distributing Analytical Accounting on the sales account seems to be straight forward process as well, once the Sales Invoice is created, you can easily go to the distribution and fill out the associated AA dimension (sales channel in this example). 

The bottle neck of this process is the cost accounts, since Inventory/ COGS journal is usually determined after posting the sales transaction and depending on the inventory valuation method (FIFO, LIFO or average). 

For this case specifically, the analytical accounting provides an essential feature which allows you to distribute the Inventory / COGS analytical details before posting the sales transaction entry. 

On the sales transaction entry window, Click on "AA" button on the ribbon of the window to open the Analytical Sales Transaction window

AA - Sales Transaction E

On the Analytical Sales Transaction entry window, there is a button to switch between the Inventory/COGS journal and the main Journal, illustrated below:

Now you can fill out the distribution related to the COGS, and switch back to the Sales/Revenue distribution to fill out the associated analytical accounting dimension as well. 

Best Regards, 
Mahmoud M. AlSaadi

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