Overview
At the end of the month certain critical information must be passed onto the accounting system that's used by the companies. The purpose of this document is to explain how this information can be pulled from Komet Sales and entered into the accounting system. Please note that the general ledger accounts used here should serve only as a guide since the number of accounts will vary based on how you setup your chart of accounts.
Sales and Credits
Sales
Run the "Sales Summary" in order to get the total flower sales . Credit the SALES for the period. Once you have this figure you can credit the sales account and debit A/R account accounts receivables account.
Customer Credits
Export to Excelthe credit details from the Order Entry > Credit Summary for the period. Post a debit to the sales credits account and account and a credit to A/R accounts receivables account.
Sample Chart of Accounts for Sales
| Income | Description | |
|---|---|---|
| Sales | ||
| Sales Total | This account contains the total flower sales for the company. Entry goes in as credit. | |
Sales - Credits and Returns | All customer credits are posted as a negative value under this account. Entry goes in as debit. | |
| Sales - Customer Discounts | All customer customer discounts are posted as a negative value under this account. Entry goes in as debit. |
...
Inventory Valuation
Run the "Inventory Valuation
...
Runs from the inventory valuation report. Use the landed cost. This is posted to an asset account. You simply adjust the total using the inventory at the last day of the month.
COGS
This is posted by entering the vendor billsReport" using the last date of the period. Post the total inventory value to the inventory account (this account should be an asset account). Please note that it is recommended to post the landed cost from this report.
Cost of Goods Sold
There is no need to post to the COGS account since this information is entered with the vendor invoices.