Results 1 to 4 of 4

Thread: which "control account" manufactured products?

  1. #1
    Platinum Member SilverNodashi's Avatar
    Join Date
    May 2007
    Location
    Johannesburg, South Africa
    Posts
    1,188
    Thanks
    11
    Thanked 188 Times in 136 Posts

    which "control account" manufactured products?

    Hi,
    Can someone please tell me, which control account (or chart of accounts) does one generally use for in-house manufactured products, sold to clients?
    For example, let's say I built a cupboard, which account would I need to link it to, in an accounting package?

    When buying stock, and reselling it to clients, I use "cost of goods sold", but somehow hit doesn't feel right.

  2. #2
    Platinum Member SilverNodashi's Avatar
    Join Date
    May 2007
    Location
    Johannesburg, South Africa
    Posts
    1,188
    Thanks
    11
    Thanked 188 Times in 136 Posts
    Just to clarify, I am referring to the materials being used in the manufacturing process, i.e. metal, welding rods, paint, cutting disks, etc.

  3. #3
    Site Caretaker Dave A's Avatar
    Join Date
    May 2006
    Location
    Durban, South Africa
    Posts
    21,357
    Thanks
    3,095
    Thanked 2,494 Times in 2,098 Posts
    Blog Entries
    12
    So they're Consumable Materials - still part of the cost of goods sold.
    The trouble with opportunity is it normally comes dressed up as work.

    Alcocks Electrical Services | Alcocks Pest Control & Entomological Services

  4. #4
    Platinum Member SilverNodashi's Avatar
    Join Date
    May 2007
    Location
    Johannesburg, South Africa
    Posts
    1,188
    Thanks
    11
    Thanked 188 Times in 136 Posts
    Quote Originally Posted by Dave A View Post
    So they're Consumable Materials - still part of the cost of goods sold.
    great, thank you!
    And stuff like welding rods / angle grinder disks / paint / etc, which is generally being used up during the building process?

Similar Threads

  1. Unable to view "calculation" or "dispute" - e-filing
    By Boeriemore in forum Tax Forum
    Replies: 3
    Last Post: 14-Sep-15, 09:38 AM
  2. Replies: 4
    Last Post: 17-Jul-14, 10:16 AM
  3. Replies: 3
    Last Post: 28-Nov-12, 04:06 PM
  4. Zuma Controversy " Cast the First Stone...""
    By sgafc in forum South African Politics Forum
    Replies: 23
    Last Post: 17-Feb-10, 03:02 PM

Did you like this article? Share it with your favourite social network.

Did you like this article? Share it with your favourite social network.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •