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Read on for the latest updates including:
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• New NetSuite Prompt Studio Contest
• And more!
Check out this thread to learn more!
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Don’t miss your chance to meet our SuiteGurus—NetSuite Support professionals and subject matter experts with extensive experience in select product areas, including OneWorld, Advanced & Basic Accounting, Supply Chain Management, Receivables & Payables, CRM, Account Administration, and the SuiteCloud Platform. Full Conference attendees can prebook exclusive 30-minute one-on-one sessions for your product questions.
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COGS and exchange rate and income statement
I'm have a real bugger of a time with my income statement and COGS.
For example:
I purchased an item from a vendor at 100 EUR
I paid the bill at the exchange rate of 1.332 ( Sounds like a dream now)
My cogs account says the kit cost me 129.16
My question is how does that work? Shouldnt the COGS reflect $133.20?
Regardless, that's pretty close to the truth - so in the income statement we have the COGS roughly (but only roughly) reflecting the cost of the items in the expense side, but where is the difference? Or how do I get know/fine tune the cogs to be correct. This happened on an item where none of the items was part of an inventory adjustment or return, so it should really be straight forward, right?
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