Cost of Goods Sold

Profit and Loss Account

*Apply to business of selling goods, enter total amount for all, then click the 'save' button in the lower right corner; For service business, enter 0 for all

Opening Stock:

1. For new startups, enter 0; 2. For existing businesses, enter the stock value at the start of the accounting period.

Purchases of Goods:

Enter the amount that goods you acquire during the accounting periods, include raw materials and finished goods.

Closing Stock:

Enter the value of goods still on hand at the end of accounting period, include raw materials and finished goods.