Revenue recognition and COGS generation
Hello,
What is the difference between COGS recognition and Revenue recognition?are these two programs run at one time?
Actually i am checking the accounting entries in O2C flow
When the ship confirm the sales order:
Dr Deffered cogs
Cr Invntory valuation
When autoinvoice run
Dr Receiveble
Cr Revenue
In the above entries revenue is recognized immediately but COgs is not recognized
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