Debit the COGS Expense account when adding a COGS journal item, and credit the Purchases and Inventory accounts.
Order-to-cash refers to the full procedure from receiving an order to completing the transaction by having the consumer make payment. The OTC process represents the supplier view, or the sales side (SAP SD Sales & Distribution) of a corporation, in the SAP ERP system.
The complete ordering procedure of a business is referred to as the order to cash process, commonly known as O2C or OTC. It begins when a consumer puts an order and concludes when an invoice is paid in full.
Is cost of products sold a credit or a debit, you might be asking.
Make a COGS journal entry by debiting the COGS Expense account and crediting the Purchases and Inventory accounts. Your COGS Expense and Purchases accounts are divided, and the result is your inventory.
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