Hitpoint China GAAP COGS APP

Due to the principle of accounting matching, some companies only confirm the cost of goods sold when issuing invoices, and before that, the financial personnel will debit the goods that have been sent out to the item of goods sent. After the invoice is issued, the issued goods will be transferred to the main business cost. Hitpoint China GAAP COGS APP for NetSuite has also made corresponding localization supplements, so that enterprises can conveniently realize the delivery of goods, billing and carry-forward costs. 

Product Features

•Set the main business cost of the goods as the delivered goods, keeping the original process and the impact on the general ledger unchanged;
•Search the detailed data of invoices/red tickets, and obtain the cost sources that affect the cost of goods sold;
•Through the unique identification of the line in the system, combined with the billing details filtered out in the user's new page, calculate the cost that needs to be confirmed;
• The calculation logic of the carry-forward cost is row-to-row. By obtaining the shipped quantity of the line, the historical invoiced quantity, the invoiced quantity of this month, and the amount of goods issued, the total cost to be confirmed by the line this month is calculated. Finally, the confirmation amount of each order is calculated according to the proportion of each order quantity of the bank this month;
•Users can choose to download and export excel on the page to check the carryover data;
• After the user submits the execution, the system will generate a carry-forward voucher. One debit and one loan can be carried forward, and the invoices and source documents can be linked to achieve retrospective effect;

Benefits

• Plug-in carry-forward vouchers and affect the general ledger without changing the NetSuite business general ledger and affecting the main business process at all;
• The invoice/red ticket can be traced to the source through the carry-forward voucher, which is clear ;
• The system automatically traces the source of costs line by line to calculate more accurate costs;
•Support the two business processes of sales and customer returns to ensure calculation accuracy;
•Support financial personnel to export calculation results and check pre-confirmed cost by excel;
•Support multiple processing carry-forward confirmations;
More features are in development...