e-manageONE has a feature that automates the movement of account postings from WIP to COGS (Cost of Goods Sold) so manual journal entries are no longer required! This Accounting practice is used when you want to recognize your costs at the same time as your revenue.
Setup WIP Account(s) (other current asset) in your QuickBooks Chart of Accounts. For every COGS account you would use in e-manageONE you would want to have an associated WIP account.
Import Chart of Accounts into e-manage|ONE from the QuickBooks Integration Application (see here for additional information).
Mark account(s) in Chart of Accounts in e-manage as “Use in e-manage”, “Receivable Account” & “Payable Account” (see here for additional information).
Open the e-manageONE Administrator Application > In the Corporate Division Configuration window select the Drop Down List Setup tab.
