Setting up the percentage of Cost of Goods Sold to calculate inventory variance adjustment

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Important reminder!

Licenses for Payroll CS, Trial Balance CS, and Write-Up CS (but not Engagement CS) permanently expired on March 1, 2017. CSA will not include 2017 tax rates or payroll forms, so, for 2017 and beyond, you will need to process payroll in another application. We recommend Accounting CS Payroll and myPay Solutions. For more information, see the following topics.

  1. Choose Setup > Automatic Journal Entries.
  2. Enter a reference and description and then select a journal from the drop-down list.
  3. Click the Percentage tab.
  4. In the Calculate from grid, enter the beginning and ending account numbers for the range of accounts that make up your client's sales accounts. Select Current In the YTD/Current column.
  5. Click the Credit option since sales accounts usually carry a credit balance.
  6. On the first line of the Distribute to grid, enter the client's cost of sales account(s) and the percentage, and choose Debit.
  7. On the next line, enter the client's inventory account number(s) and the percentage, and choose Credit.
  8. Press ENTER to save the record.

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