Perpetual inventory (COGS)- Sage 50 Cloud

Posted By Jo C over 3 years ago

We are pretty new to using Sage 50 Cloud and have found that on the P&L account all purchases of stock are being charge straight to cost of goods sold despite the fact that we are using the inventory module to track stock. Is it possible to change Sage 50 Cloud to work on a perpetual stock basis? I have searched for solutions but seem to be coming up with non UK results, I've also looked at the settings but can't find anything (although I could just be missing it). Just wondered if anyone here knows the answer....

0 Sean White over 3 years ago

Hi Jo,

Thanks for using Sage City.

Can you tell me how you're recording this on Sage Accounts please?

If this has answered your question please click More > Verify Answer.

Kind regards,

Sean,
Sage UKI
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0 Jo C over 3 years ago in reply to Sean White

Hi

I'm not entirely sure what you mean. We have the Products and Services module which records the stock coming in and the going out when we process purchases and sales. I can see there is a 'stock valuation' button in the module which will post transactions to the P&L so it reflects the value of unsold stock but that's not quite what I had in mind. I have to admit we started trading (and using Sage) just before the lockdown and then staff were furloughed until July so we've only recently looked at the P&L. I've been told that by an accountant connected to the company (admittedly outside the UK) that they would expect it to run perpetual inventory so that the figure is always correct rather than having to update it each time. I have no idea what is standard as I haven't dealt with a company with stock before!

Jo
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Perpetual inventory (COGS)- Sage 50 Cloud

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