We are excited to introduce the COGS Adjustment Report, designed to provide finance and auditing teams with a clear, auditable record of all Cost of Goods Sold (COGS) adjustments made through the Receiving Modification process.
What is the COGS Adjustment Report?
The COGS Adjustment Report is your primary source for tracking every financial correction processed through the new COGS Adjustment workflow. It ensures that all changes to COGS values—triggered by authorized users—are recorded in a sequential and traceable manner, supporting your reconciliation and audit needs.
When is a COGS Adjustment Recorded?
A new entry is added to the report only when:
The permission for LAD WAC (Weighted Average Cost) change is enabled.
A user completes the COGS Adjustment Prompt, resulting in a change to the COGS value.
Key Benefits
Full Audit Trail: Every COGS adjustment is logged with detailed information, making financial reconciliation straightforward.
Customizable Filters: Easily filter the report by date range, item (ID or name), venue, store, purchase order number, or reason code.
Easy Export: Export your report to CSV or PDF for sharing or offline analysis.
What Information Does the Report Include?
The COGS Adjustment Report provides a complete, auditable record of all cost-related financial adjustments made during the Receiving Modification process. It helps finance and audit teams trace and reconcile every Cost of Goods Sold (COGS) change that occurs when a receiving modification involves a cost update.
This report ensures full transparency for cost adjustments by listing all financial correction events tied to inventory receipts. It allows accounting and operations teams to validate that every COGS change - along with its reason, user, and timing - is properly recorded and traceable.
You can access this report under:
Reports → Inventory → COGS Adjustment Report
Use the available filters to narrow down your results and focus on specific data:
Date Range – Filter records by the adjustment date.
Item (ID / Name) – View adjustments made to specific items.
Venue – Filter adjustments by venue.
Location – Filter by store or warehouse.
PO # – Search for adjustments linked to specific purchase orders.
Reason Code – Identify adjustments based on the reason selected during submission.
Each row in the report represents a single COGS adjustment made for an item during a receiving modification.
Venue - The venue where the transaction occurred.
Location - The specific store/warehouse where the adjustment was recorded
COGS Adjustment Transaction # - A unique, system-generated transaction ID for the COGS adjustment. Used as the primary reference for financial reconciliation.
Original Receiving Transaction # - The receiving transaction number that was modified and led to the adjustment.
Original PO # - The purchase order number linked to the original receiving (if applicable).
Adjustment Date - The date and time when the adjustment was submitted.
User - The username of the individual who processed the adjustment.
Reason Code - The reason selected for making the cost adjustment.
Item ID - The unique product identifier.
Item Name - The product’s name or description.
Item Quantity Sold - The total number of units sold used in the COGS adjustment calculation.
Previous COGS - The total COGS value before the adjustment, based on the old Weighted Average Cost (WAC).
COGS Adjustment Value -The difference between the new and previous COGS values. This value is posted as either a credit or debit.
Modified COGS - The updated COGS value after applying the adjustment
Displays one row per item affected by a receiving modification that triggered a COGS adjustment.
Supports export to CSV and PDF for record-keeping or offline review.
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