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Transaction types
P&L category

This category is based on the Profit & Loss statement. Under the report, they are Sales profit, Cost of Goods Sold, and Expenses. All figures are the cost of the transactions before the GST tax. The GST tax will be handled in Goods & Services Tax Returns category

Sales profit types are defined by the system. The system only limited to the invoices and credits only. Further sub-divides like discounts will be considered at the later development.

Cost of Goods Sold types are defined for the direct materials and services incurred in the goods. That includes taxable and non-taxable costs.

Expenses types are defined for the rest of the purchases and expenses that incurred for the operation of the company regardless of taxable or non-taxable.





Sales
Under sales, there are invoices and credit notes. The system will collect the transactions directly from the data source. No type definition is needed.

Cost of Goods Sold
Cost of good sold are the purchases and expenses contributed to the cost of product. It includes the packaging materials and transportation.

Expenses
Other than COGS, the rest of the purchases are classified in expenses. It includes taxable and non-taxable.

Type Description