The Update Stock on Hand routine provides a means of generating cost of sales for the items that have been sold. This routine should be run on a monthly basis, after entry of all supplier invoices for the selected date range.
After you have completed the Stock Take
Go to: Stock menu > Update Stock on Hand > Create COS Journals.
The dates should be displayed as the month you performed the stock take. The dates can be overtyped if necessary.
If you are using departments, ensure the Calculate cost of sales for each department check box is selected.
Select the Create G/L entries for any purchase price variations or rounding adjustments check box.
The Create G/L entries for any purchase price variations or rounding adjustments check box should be selected each month to ensure adjustments are processed in the correct accounting period.