Hello all
thanks for taking the time to try and help me out here.
First off, the business is involved in manufacturing, but to this point has never prepared or even considered a schedule of COGM. Basically, the accounting practices at this business are quite lax, and I am trying to straighten them out as much as possible, but I have no practical experience in accounting, and know only what I was taught in business school (where I specialized in management).
Anyway, what I am trying to do is streamline things by incorporating a schedule of COGM into our income statement, as seen in the image below that I had designed with Microsoft Excel, with our copy of simply accounting basic. I am finding that simply accounting does not like to go deeper than one sub-group when creating new accounts, but i am not 100% sure because I have just started using this program. I will most likely need to go as far as 6 sub-levels or more, as seen in the image...
If that is the case, and simply accounting will not be able go deep enough and do the "Add and Less" calculations, than I will most likely have to do the schedule of COGM seperately, and bring it into the income statement at the period end. If so, does anyone know of a managerial accounting program that I will be able to use that has the ability to connect to simply Accounting?
Any input and experiences would be more than welcome
Linear Mode
