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ReportHi GP Consultants,
I would like to have an idea of the number of companies using GP in Australia by state.
Thanks.
Regards,
Richi KOKIL
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Hi GP Consultants,
I would like to have an idea of the number of companies using GP in Australia by state.
Thanks.
Regards,
Richi KOKIL
*This post is locked for comments
Dear Richi
In my openion you should analize your expenses into Operation Expenses (EX. Developers Salaries and any expense related to Item sold), Seling Expenses (Ex. Sales People Salaries) and Admin Expenses.
Then by the end of each period you should credit all the operation Expenses and debit C.O.G.S.
N.B. this method depends on your judjment on the expenses and which one or how much the amount you will considered as operation expenses.
B. RGRDS
Mohammad Moustafa
I really liked the question.
I think this question may have different answer depends on the financial rules of the country.
In lebanon we have in our chart of accounts the folowing :
| 94 | INVENTORY | ||||
| 940 | Goods | ||||
| 941 | Raw materials. | ||||
| 942 | Other materials and consumables. | ||||
| 943 | Investment in progress. | ||||
| 944 | Services in progress. | ||||
| 945 | Production (Semi-finished and finished). | ||||
So once you will sell Software license(specially if you are the license provider) , you will do the following :
Dr: A/c Receivables
Cr: Sales
-------------------
Dr: Cost of good sold - Salary.....
Cr: Services in Progress
-----------------
So the time of every employee considered as service will not be considered as salary at the end of the month. It will be considered in the service in progress acount. You got my point ?
I don't know if my answer helps you.
Good question.
Wouldn't the COGS be handled at a GL level by the transactions created during development of the software?
In other words, the sale would not have a COGS entry. Instead, all the software development costs such as salaries and other expenses would be debited to COGS accounts.
How would this work? Do you need an entry for sales margin analysis?
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