Just trying to get my head around the accounting system in ERPNext. I used Plaid to import my bank transactions and now I am trying to fill in the other bits.
I created a Purchase Invoice for a bank transaction - license for a software I use.
And within that Purchase Invoice I created an Item for the license
I then created a Payment entry attached to the purchase invoice
But when I look in Profit/Loss statement the Chart of Accounts it is associated with is Cost Of Goods Sold - where as it should be something more approrpiate. Where do I change that value?
I unticked the Manage Stock option in the Item field, as I believe I should do for all things that are not tangible, or things to be sold on etc?