RE: [SL] COGS

[Paul T. <pt...@ho...>]

I would be VERY carefull here.=20
You MAY already have filed your income tax 2003 INCLUDING this cost.
If you 'charge' it to COGS without 'parking' it on the balance sheet (at
least at year-end) that is exactly what happened.

If you charge it AGAIN to result 2004, you effectively deduct COGS two =
times
for one sale. Taxman has strong opinions on that..

Cheers
Paul Tammes

-----Oorspronkelijk bericht-----
Van: sql...@sq...
[mailto:sql...@sq...] Namens Danny Brow
Verzonden: Saturday, September 18, 2004 2:38 PM
Aan: SL
Onderwerp: [SL] COGS

Here's my issue, when I do a income statement I don't get the full
amount of my COGS, I'm missing most importantly any cost of an item I
sold in the prior year.  i.e. I sold 2 computers to a client just before
the end of last December and I just noticed now that the parts I bought
for his computers in January don't show up in this years income
statement, but if I do a trial balance and click on account 1540
(Inventory/Computer parts) I get the full amount of purchases I made for
inventory this year.  As you may be able to see if I did not catch this
I would have filed my income tax for 2004 with out including this cost.

Also is there a way to include cost of purchase for the entire year in
the income statement vs. having just cost of goods sold?


Thanks,
--=20
Dan Brow CEO
Full Motion Solutions
- Solutions That Work -=20
Phone: 519.641.7193
E-Mail: da...@fu...
Web: www.fullmotions.com



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