New option to setup multiple Cost of Goods account

This feature was added in vintrace version 7.4.3

Asset and Work In Progress accounts now have an optional linked Cost of Goods account.This allows you to track cost of goods for bulk and cased goods sales separately.

Bulk wine Cost of Goods account

For bulk wine, you can set a Cost of Goods account on your Work in Progress account.

The Work in Progress (asset) account for bulk wine is the account set on the wine’s Program if a Program is set on the wine. Otherwise, a bulk wine with no Program or a Program without an account default s to the Work In Progress account.

Setting bulk wine Cost of Goods account on the Program

To set the Cost of Goods account on your Work In Progress/Asset accounts:

  1. Select Winery Setup > Accounts.
  2. Click the Work in Progress account you want to use for your bulk wine.
  3. Select Linked Cost of Goods account.
  4. Click Save.
  5. Select Winery Setup > Work-flow > Programs
  6. Set the Account you set up in step 3 on the program you want to use for your bulk wine.
  7. Click Save.
  8. Go to the Product Overview of your bulk wine, and edit the batch details.
  9. Set the Program that you have setup on the batch of the bulk wine. You can also do this step during your initial batch creation.
  10. Click Save.

In the example below, the bulk wine is linked to the Domaine Pinot Noir program. The Work in Pogress account is from the program.The Cost of Goods account is the configured Linked Cost of Goods account set on the Work in progress account on the program.

Tip: Hover your mouse over the Work in progress account or Cost of goods account in the Product Overview to see where the accounts are set.

When you sell a bulk wine that is linked to the Work in Progress account, the asset cost of the goods is journaled to the Cost of Goods account selected here. If there is no Linked Cost of Goods account selected, the default Cost Of Goods account is used.

Setting the bulk wine Cost of Goods account on the default Work in Progress account

A bulk wine with no Program or a Program without an account defaults to the Work In Progress account.
To set the Cost of Goods account on the default Work in Progress account:

  1. Go to Winery Setup > Accounts.
  2. Click Defaults to check your default Work in Progress account.

  3. In the example below the default Work in Progress account is Work In Progress.
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  4. Go to Winery Setup > Accounts.
  5. Click the Work In Progress account.
  6. Select the Linked Cost of Goods account.

  7. In the example below, the bulk wine has no Program set on it so the Work in Progress account set is the default Work in Progress account and the Cost of Goods is from the Linked Cost of Goods account on the default Work in Progress account.
    Tip: Hover your mouse over the Work in progress account or Cost of goods account in the Product Overview to see where the accounts are set.

Setting the default bulk wine Cost of Goods account

A bulk wine with no Program or a Program without an account defaults to the Work In Progress account and if the default Work in Progress has no Linked Cost of Goods account set on it, it defaults to the Bulk Cost of Goods account.

To set the default Cost of Goods account:

  1. Go to Winery Setup > Accounts.
  2. Click Defaults.
  3. Select your default Bulk Cost of Goods account.

 

Stock item Cost of Goods account

For stock items, the Cost of Goods account linked on the Asset account of the stock item. Otherwise, it will use the Cost of Goods account linked to the Asset account on the Stock Category of the stock item.

If the stock item does not have an Asset account or a Stock Category set, or the Stock Category has no Asset account set, it uses the default Cost of Goods account.

Setting the Stock item Cost of Goods account on the Asset account

To set the Cost of Goods account on your stock item’s Asset accounts:

  1. Go to Winery Setup > Accounts.
  2. Click the Asset account you want to use for your stock item.
  3. Select the Linked Cost of Goods account.
  4. Click Save.
  5. From the Stock Item Overview, click edit.
  6. Set the Asset account on the stock item.


In the example below the stock item has an Asset account set and the Cost of Goods account is the Linked Cost of Goods account on the Asset account.

Tip:
Hover your mouse over the Asset account, Revenue account or Cost of goods account in the Product Overview to see where the accounts are set.

Setting the Stock item’s Cost of Goods account on the Stock Category

To set the Cost of Goods account on your stock item’s stock category:

  1. Go to Winery Setup > Accounts.
  2. Click the Asset account you want to use for the stock category.
  3. Select the Linked Cost of Goods account.
  4. Click Save.
  5. Go to Winery Setup > Manufacturing > Stock Category and click on the stock category you want to use on your stock item.
  6. Set the Default account as the Asset account that you have set up.

When you have a stock item where the stock category set is the stock category, it uses the Linked Cost of Goods account set on that Asset account of the stock category.

Tip:
Hover your mouse over the Asset account, Revenue account or Cost of goods account in the Product Overview to see where the accounts are set.

Setting Stock item default Cost of Goods account

To set the default Cost of Goods account:

  1. Go to Winery Setup > Accounts.
  2. Click Defaults.
  3. Select the default Cost of Goods account.

 

 

 

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