Generating a report that outlines transaction line items with manually entered Cost of Goods Sold (COGS) would be very useful. There are instances where users have to manually input COGS due to delays in acquiring necessary information or documents. For estimating profits within a specific period, users commonly resort to manual COGS entries with the intention of returning to automatic calculations once all relevant information or documents are available for correct automatic computations of COGS.
The challenge arises from the absence of a report highlighting line-item entries with manually inputted COGS for specified periods, complicating the task of identifying and editing such transactions back to automatic calculation of COGS (especially with voluminous data). Given the critical role of accurate COGS in management, financial, and tax accounting, I suggest creating a report dedicated to identifying and presenting all entries with manually entered COGS. Additionally, incorporating a batch operation feature in this proposed report would enable users to efficiently switch the COGS calculation method to Automatic. Users can simply batch-select the transactions and proceed to make the change.
This proposed functionality would prove beneficial not only in addressing the initial challenge but also in scenarios where adjustments or corrections to manually entered COGS figures are required due to new information. Moreover, the suggested feature would enhance financial and tax audit procedures and facilitate various financial planning activities.