Cost of Sales Overview
To manage the stock account, Focus requires that you operate three types of stock accounts.
- Stock (Balance Sheet item): this is generally a debit balance and is reported on the balance sheet. At the beginning of the financial period, this value is transferred to the debit of the Opening Stock account. At the end of the financial period, this value is transferred from the credit of the Closing Stock account.
- Opening stock (PL – Cost of Sales item): this is generally a debit balance and is reported on the Profit & Loss Statement. It holds the value of stock at the beginning of the financial period
- Closing stock (PL – Cost of Sales item): this is generally a credit balance and is reported on the Profit & Loss Statement. It holds the value of stock at the close of the financial period
The balance sheet Stock account represents the value of your closing stock.
You can
- Auto-post the stock valuation figures during the Sales Ledger Period End routines, or
- Manually post the stock valuation figures
Cost of sales
On the Profit and Loss account statement, Focus computes the cost of sales at run time on the basis of the formula:
Cost of sales = Opening Stock + Purchases – Closing Stock
Create a New Order
Edit an Order
Batch Release and Reprint
Dues invoicing (Backorders)
SOP Error Log
Returns System
Add New, Edit Title Records
Receive Stock (Goods-In) to a Location
Send Out Consignments or Transfer Stock
Process Sales Orders
Do Stocktake
Process Printer/Supplier Invoice
Calculate unit costs
Post Stock Value to Cost of Sales
Add, Classify Edit Accounts
Post Journals
Cash Book
Transfer Money
Post Budgets
Setup Control Accounts
Cost of Sales Overview
Post costs from Purchases
Post Direct Job Transactions
Calculate unit costs
Job Profile / Enquiry
Calculate Royalty
Print, Email Royalty Statements
Post Royalty Payments
Withholding Tax on Royalty
Add Author Records
Set Royalty Rates
Set Rights Royalty