Assigning default General Ledger accounts (BL/DST)

You can assign the default General Ledger accounts to each process level and sales class combination for inventory and non-stock items in Billing. For example, you can use default General Ledger accounts to track the cost of goods sold (COGS) in Billing.

Before you can assign the default General Ledger accounts at this level in the Billing application, you must define sales classes in the Inventory Control application and assign them to items.

See Inventory Control User Guide.

Procedure flow: Setting up default general ledger accounts

Access Sales Class Accounts (BL05.1).
Specify the header information.
Select the Sales account > COGS account > COGS offset account.
Select the COGS account.
Select the COGS offset account.

Note: When Order Entry cost and Purchase Order cost vary, you can use the COGS variance account for drop ship orders.
Select the COGS variance account.
To assign a target profit margin to the account, specify the profit percentage and hold code.
Click Add.