RE: [SL] COGS

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

I tend to agree here; if these are the facts it would future income (you
invoice something not yet delivered)=20
Delivery would be practically impossible since you did not buy the =
computers
till January, so all you COULD have sold was air, titled 'computers yet =
to
be delivered somewhere next year'.=20

Unless of cause you sold OLD stock, in which case the COGS and revenue =
are
both in 2003 and should be. The new computers that replace the sold =
stock in
2004 are not to be taken into account in 2003 then I would suggest.

You DO take inventory (physical count) and take actual stock into =
account I
take it?

-----Oorspronkelijk bericht-----
Van: sql...@sq...
[mailto:sql...@sq...] Namens Mike Mylonas
Verzonden: Sunday, September 19, 2004 3:48 PM
Aan: sql...@sq...
Onderwerp: Re: [SL] COGS

Hi Danny,

On Mon, 2004-09-20 at 01:20, Danny Brow wrote:
> To better explain this I will give you all the details.
>=20
<snip>
> All I wanted was to see if any one else was having the same issues as =
I.
> If you got a minute and you've sold stuff in a prior year and bought =
the
> product in the year after it was sold, do an income statement and then =
a
> trial balance and see if your COG shows up the same on both. And let =
me
> know.=20

Unfortunately I cannot comment as to the requirements of your local tax
laws, in New Zealand, we would treat the above senario as "Income in
Advance", as you have not actually earnt the income until the goods are
supplied (being in the next financial year).

>From my perpective the issue seems to be one of an accounting
methodology rather than an issue with SQL-Ledger.

I hope that helps shed some light

Regards
Mike



-------------------------------------------------------
This SF.Net email is sponsored by: YOU BE THE JUDGE. Be one of 170
Project Admins to receive an Apple iPod Mini FREE for your judgement on
who ports your project to Linux PPC the best. Sponsored by IBM.
Deadline: Sept. 24. Go here: http://sf.net/ppc_contest.php
_______________________________________________
sql-ledger-users mailing list
sql...@sq...
https://lists.sourceforge.net/lists/listinfo/sql-ledger-users