Cost of Goods Sold Account Register

A Cost of Goods Sold (COGS) account register lists expenses incurred for purchasing or manufacturing the merchandise you sell. Cost of goods sold, or, inventory costing, is calculated by subtracting ending inventory from the sum of the beginning inventory and the purchases during a period of time.

You can use a cost of goods sold account register to track and manage transactions that affect your cost of goods sold account. You can also print selected transactions from the register page by checking the appropriate box in the Print column, and then clicking the Print button.

To view a cost of goods sold account register:

• Do one of the following:

  • Go to Lists > Accounting > Accounts, or Setup > Accounting > Chart of Accounts, and click the account name.

  • From a list of transactions affecting inventory calculations, click the account. (Many types of transactions may affect inventory costing, including invoices, cash sales, checks, bills, and inventory adjustments.)

  • On a transaction record, from the Actions list, select Go to Register.

For information about how inventory costing is recorded and managed in NetSuite, see Item Costing and LIFO/FIFO Inventory Costing and Advanced Receiving.

General Notices