Accounting Reports - Trading Account

ERPNext Reports
1

Hi,

I am looking for this kind of Report for our Company. Can Anyone please tell me where I can find the same in our accounting package. This is for reporting Gross Profit, after Which the PnL Statement calculates the Net profit.

Thanks
Nitin

1 Like
2

How to get this? Please share…

3

Did you get a solution to this?

4

Any update on this?

5

I realized that if you use perpetual accounting then you have to allocate separate purchase account and nit hit the stock account directly. Not sure how it can be achieved easily.

6

Making the Trading Account from ERPNext

Trading account is:

  1. Opening balance (From c. Trial Balance - all Stock accounts)
  2. Add Purchase Receipts (e. Purchase Register)
  3. Minus Purchase Returns (e. Purchase Register)
  4. Apply adjustments (-ve or +ve) (a. COGS and b. Stock In Hand not hit by SINVs/DNs/PRs/PINVs)
  5. Less Closing balance (From c. Trial Balance - all Stock accounts)
    = COGS

a. General Ledger - COGS - Pivot by Voucher Type (Shows you what extra has hit the account apart from SINVs)
b. General Ledger - Stock In Hand - Pivot by Voucher Type
c. Stock Ledger -
d. Sales Register - Filter for COGS and get the total (Verify if any other expense account has been affected apart from COGS)
e. Purchase Register - Find out Total purchases to match the Stock in Hand (Verify if any other asset/stock account has been affected apart from Stock In Hand)
f. Trial Balance - To verify balances

Use this for learning about Pivot Table to use during these transactions