Cost of Sales Method

Cost of Sales Method

Each purchase order, invoice, payment and stock correction made in a store creates a journal entry in Checkout that can later be exported to AccountEdge or another accounting application.

Checkout uses an accrual-based, double entry accounting model internally. When you create your store database you can select whether Checkout should use an Average Cost or a FIFO (First In, First Out) cost matching system to track your stock related transactions. You cannot change the cost matching system after you have created your store database.

If you are unsure of what your existing Checkout store is using for Costing, this can be found by looking at the bottom of your Ledger. The Ledger is found under your "Manager" function.

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