5:[["$","script",null,{"type":"application/ld+json","dangerouslySetInnerHTML":{"__html":"$10"}}],["$","$L11",null,{"children":["$","$L12",null,{"demoData":{"id":"clx2en8sn0hru35xezb6u1627","createdAt":"2024-06-05T22:33:14.567Z","updatedAt":"2024-06-23T15:31:00.325Z","title":"COGS Rule Setup","published":true,"color":"bg-gray-200","authorId":"cln7t1r9g10fypemfz4357318","metadesc":"Click through a step-by-step, interactive demo walkthrough of Mypocketcfo, powered by Supademo.","ctabtntext":"Do it yourself","ctabtncolor":"#6bc72d","ctabtntextcolor":"#fff","ctabtnlink":"https://app.mypocketcfo.com","autoplay":true,"autoplayduration":3000,"autoPlayDelay":0,"showplaypause":true,"loop":false,"progressbar":true,"font":"Default","workspaceId":"cln7t3z4g10g7pemf876t1yun","darkmode":false,"shared":true,"folderId":null,"border":true,"nextButton":true,"showSteps":true,"globalSettings":true,"hotspotTextVisible":true,"hotspotOpacity":"100","number":null,"topBar":true,"indexable":true,"displayAuthor":true,"displayDescription":true,"showSupademoLink":true,"showCCButton":true,"archived":false,"archivedAt":null,"domainURL":"https://qa.mypocketcfo.com/rules/cogs?page=1","brandLogo":"https://media.supademo.com/workspacelogos/Lrmbhwcp7lZgH37c035an","allowDuplicate":false,"recordOwnVoice":false,"backgroundId":null,"backgroundMusicUrl":null,"backgroundMusicVolume":50,"demoSource":null,"type":"Default","fullWidth":false,"author":{"name":"alice zhang","image":null,"email":"alice.zhang@mypocketcfo.com"},"steps":[{"id":"clx2endil0hrw35xeilvd50w5","number":"1","text":"First up, click on \"COGS rules\".","image":"https://media.supademo.com/cln7t1r9g10fypemfz4357318/JXBSptKca9lnQX_IWSXEs.jpg","video":null,"createdAt":"2024-06-05T22:33:20.685Z","updatedAt":"2024-06-05T22:57:09.106Z","demoId":"clx2en8sn0hru35xezb6u1627","imageWidth":"688","imageHeight":"365","mouseXCooridnate":"9.917355371900827","mouseYCooridnate":"84.11154345006486","editedImage":null,"widthOrg":2904,"heightOrg":1542,"bgcolor":"#4f46e5","textcolor":"#fff","imgState":null,"trimStart":"0","trimEnd":"100","videoWidth":null,"videoHeight":null,"videoDuration":null,"audio":"https://media.supademo.com/cln7t1r9g10fypemfz4357318/audio/bmfWBzqCS-ldBvDp2Ad7L.mp3","audioText":"Pocket's approach for Cost of Goods Sold accounting is to set up weighted average Cost of Goods Sold as percentage of your blended average selling price, of your sales income account, and apply that towards your specified beginning and ending period. First up, click on \"Cost of Goods Sold rules\". If you have a question on calculating your weighted average Cost of Goods Sold as % of your blended sales price, please contact us at support@mypocketcfo.com!","voice":"FPQ1Odtu8U6Edy2qyGcI","audioLanguage":null,"audioDuration":"26.2269387755102","captionsUrl":null,"zoomPositionX":null,"zoomPositionY":null,"zoomWidth":null,"zoomHeight":null,"playbackRate":"1","mediaFitMode":"Cover","mediaAlignMode":"Center","htmlCaptureId":null,"backdrop":"None","pageUrl":null,"recordingSessionId":null,"hotspots":[{"id":"clx2endil0hrx35xe9g3kjqac","number":"1","createdAt":"2024-06-05T22:33:20.685Z","updatedAt":"2024-06-05T22:33:20.685Z","default":false,"text":"First up, click on \"COGS rules\".","bgcolor":"#4f46e5","textcolor":"#fff","mouseXCooridnate":"9.917355371900827","mouseYCooridnate":"84.11154345006486","style":"Circle","animation":"Ping","isVisible":true,"boxWidth":"0","boxHeight":"0","prevslide":null,"nextslide":null,"stepId":"clx2endil0hrw35xeilvd50w5","tipposition":"bottom","nextButton":true,"textVisible":null,"htmlValue":"

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","aiText":null,"aiTextVisible":false,"anchorNodeId":null}],"chapter":null,"comments":[]},{"id":"clx2enjid0hs235xez1xwxdg0","number":"3","text":"Click here.","image":"https://media.supademo.com/cln7t1r9g10fypemfz4357318/4-xQHBDldwYvaPVVEDAOa.jpg","video":null,"createdAt":"2024-06-05T22:33:28.454Z","updatedAt":"2024-06-05T22:50:44.044Z","demoId":"clx2en8sn0hru35xezb6u1627","imageWidth":"688","imageHeight":"365","mouseXCooridnate":"69.3870523415978","mouseYCooridnate":"36.31647211413748","editedImage":null,"widthOrg":2904,"heightOrg":1542,"bgcolor":"#4f46e5","textcolor":"#fff","imgState":null,"trimStart":"0","trimEnd":"100","videoWidth":null,"videoHeight":null,"videoDuration":null,"audio":"https://media.supademo.com/cln7t1r9g10fypemfz4357318/audio/rBoGr2ISbUJiabPA_DYLO.mp3","audioText":"Click here.","voice":"FPQ1Odtu8U6Edy2qyGcI","audioLanguage":null,"audioDuration":"1.071020408163265","captionsUrl":null,"zoomPositionX":null,"zoomPositionY":null,"zoomWidth":null,"zoomHeight":null,"playbackRate":"1","mediaFitMode":"Cover","mediaAlignMode":"Center","htmlCaptureId":null,"backdrop":"None","pageUrl":null,"recordingSessionId":null,"hotspots":[{"id":"clx2enjie0hs335xeczx82dzd","number":"3","createdAt":"2024-06-05T22:33:28.454Z","updatedAt":"2024-06-05T22:33:28.454Z","default":false,"text":"Click here.","bgcolor":"#4f46e5","textcolor":"#fff","mouseXCooridnate":"69.3870523415978","mouseYCooridnate":"36.31647211413748","style":"Circle","animation":"Ping","isVisible":true,"boxWidth":"0","boxHeight":"0","prevslide":null,"nextslide":null,"stepId":"clx2enjid0hs235xez1xwxdg0","tipposition":"bottom","nextButton":true,"textVisible":null,"htmlValue":"

","aiText":null,"aiTextVisible":false,"anchorNodeId":null}],"chapter":null,"comments":[]},{"id":"clx2enml20hs535xeu3dvyhub","number":"4","text":"Following that, click on \"Income\".","image":"https://media.supademo.com/cln7t1r9g10fypemfz4357318/P81HJRImdKDtnLD_AbXtg.jpg","video":null,"createdAt":"2024-06-05T22:33:32.438Z","updatedAt":"2024-06-05T22:57:09.106Z","demoId":"clx2en8sn0hru35xezb6u1627","imageWidth":"688","imageHeight":"365","mouseXCooridnate":"56.060606060606055","mouseYCooridnate":"48.313878080415044","editedImage":null,"widthOrg":2904,"heightOrg":1542,"bgcolor":"#4f46e5","textcolor":"#fff","imgState":null,"trimStart":"0","trimEnd":"100","videoWidth":null,"videoHeight":null,"videoDuration":null,"audio":"https://media.supademo.com/cln7t1r9g10fypemfz4357318/audio/X3jB5l2oEy5L7j0xIT_R3.mp3","audioText":"Following that, click on a specific income account you would like to create your Cost of Goods Sold rule for.","voice":"FPQ1Odtu8U6Edy2qyGcI","audioLanguage":null,"audioDuration":"5.616326530612245","captionsUrl":null,"zoomPositionX":"21.06060606060606","zoomPositionY":"13.31387808041504","zoomWidth":"70","zoomHeight":"70","playbackRate":"1","mediaFitMode":"Cover","mediaAlignMode":"Center","htmlCaptureId":null,"backdrop":"None","pageUrl":null,"recordingSessionId":null,"hotspots":[{"id":"clx2enml20hs635xeozqpl1of","number":"4","createdAt":"2024-06-05T22:33:32.438Z","updatedAt":"2024-06-05T22:33:32.438Z","default":false,"text":"Following that, click on \"Income\".","bgcolor":"#4f46e5","textcolor":"#fff","mouseXCooridnate":"56.060606060606055","mouseYCooridnate":"48.313878080415044","style":"Circle","animation":"Ping","isVisible":true,"boxWidth":"0","boxHeight":"0","prevslide":null,"nextslide":null,"stepId":"clx2enml20hs535xeu3dvyhub","tipposition":"bottom","nextButton":true,"textVisible":null,"htmlValue":"

Income

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element.","bgcolor":"#4f46e5","textcolor":"#fff","mouseXCooridnate":"45.69559228650138","mouseYCooridnate":"50.45395590142672","style":"Circle","animation":"Ping","isVisible":true,"boxWidth":"0","boxHeight":"0","prevslide":null,"nextslide":null,"stepId":"clx2enn490hs835xew7q4u0i7","tipposition":"bottom","nextButton":true,"textVisible":null,"htmlValue":"","aiText":null,"aiTextVisible":false,"anchorNodeId":null}],"chapter":null,"comments":[]},{"id":"clx2enrtl0hsb35xe8od4wuef","number":"6","text":"Then, click here.","image":"https://media.supademo.com/cln7t1r9g10fypemfz4357318/__pj4pQCl5u5DlNs00BeA.jpg","video":null,"createdAt":"2024-06-05T22:33:39.225Z","updatedAt":"2024-06-05T22:50:44.044Z","demoId":"clx2en8sn0hru35xezb6u1627","imageWidth":"688","imageHeight":"365","mouseXCooridnate":"61.22589531680441","mouseYCooridnate":"50.19455252918288","editedImage":null,"widthOrg":2904,"heightOrg":1542,"bgcolor":"#4f46e5","textcolor":"#fff","imgState":null,"trimStart":"0","trimEnd":"100","videoWidth":null,"videoHeight":null,"videoDuration":null,"audio":"https://media.supademo.com/cln7t1r9g10fypemfz4357318/audio/qjBhzULOJhKsZhUJgHh4q.mp3","audioText":"Then, click here.","voice":"FPQ1Odtu8U6Edy2qyGcI","audioLanguage":null,"audioDuration":"1.384489795918367","captionsUrl":null,"zoomPositionX":"26.22589531680441","zoomPositionY":"15.19455252918288","zoomWidth":"70","zoomHeight":"70","playbackRate":"1","mediaFitMode":"Cover","mediaAlignMode":"Center","htmlCaptureId":null,"backdrop":"None","pageUrl":null,"recordingSessionId":null,"hotspots":[{"id":"clx2enrtl0hsc35xejy5f9yec","number":"6","createdAt":"2024-06-05T22:33:39.225Z","updatedAt":"2024-06-05T22:33:39.225Z","default":false,"text":"Then, click here.","bgcolor":"#4f46e5","textcolor":"#fff","mouseXCooridnate":"61.22589531680441","mouseYCooridnate":"50.19455252918288","style":"Circle","animation":"Ping","isVisible":true,"boxWidth":"0","boxHeight":"0","prevslide":null,"nextslide":null,"stepId":"clx2enrtl0hsb35xe8od4wuef","tipposition":"bottom","nextButton":true,"textVisible":null,"htmlValue":"","aiText":null,"aiTextVisible":false,"anchorNodeId":null}],"chapter":null,"comments":[]},{"id":"clx2ensfu0hse35xe6husmaqg","number":"7","text":"Click here.","image":"https://media.supademo.com/cln7t1r9g10fypemfz4357318/N8RIW9VlZm7IAp88nI2E2.jpg","video":null,"createdAt":"2024-06-05T22:33:40.026Z","updatedAt":"2024-06-05T22:50:44.044Z","demoId":"clx2en8sn0hru35xezb6u1627","imageWidth":"688","imageHeight":"365","mouseXCooridnate":"70.0413223140496","mouseYCooridnate":"50.583657587548636","editedImage":null,"widthOrg":2904,"heightOrg":1542,"bgcolor":"#4f46e5","textcolor":"#fff","imgState":null,"trimStart":"0","trimEnd":"100","videoWidth":null,"videoHeight":null,"videoDuration":null,"audio":"https://media.supademo.com/cln7t1r9g10fypemfz4357318/audio/RGLkYVTJvAe5VvUk9RmAe.mp3","audioText":"Select the end date that this rule will stop be applied.","voice":"FPQ1Odtu8U6Edy2qyGcI","audioLanguage":null,"audioDuration":"2.690612244897959","captionsUrl":null,"zoomPositionX":"30","zoomPositionY":"15.58365758754864","zoomWidth":"70","zoomHeight":"70","playbackRate":"1","mediaFitMode":"Cover","mediaAlignMode":"Center","htmlCaptureId":null,"backdrop":"None","pageUrl":null,"recordingSessionId":null,"hotspots":[{"id":"clx2ensfu0hsf35xenn6tgd4y","number":"7","createdAt":"2024-06-05T22:33:40.026Z","updatedAt":"2024-06-05T22:33:40.026Z","default":false,"text":"Click here.","bgcolor":"#4f46e5","textcolor":"#fff","mouseXCooridnate":"70.0413223140496","mouseYCooridnate":"50.583657587548636","style":"Circle","animation":"Ping","isVisible":true,"boxWidth":"0","boxHeight":"0","prevslide":null,"nextslide":null,"stepId":"clx2ensfu0hse35xe6husmaqg","tipposition":"bottom","nextButton":true,"textVisible":null,"htmlValue":"","aiText":null,"aiTextVisible":false,"anchorNodeId":null}],"chapter":null,"comments":[]},{"id":"clx2enuvc0hsh35xeg6wai0df","number":"8","text":"Now, click on the element.","image":"https://media.supademo.com/cln7t1r9g10fypemfz4357318/bpYME9mKpLU1A1Eywfhal.jpg","video":null,"createdAt":"2024-06-05T22:33:43.176Z","updatedAt":"2024-06-05T22:57:09.106Z","demoId":"clx2en8sn0hru35xezb6u1627","imageWidth":"688","imageHeight":"365","mouseXCooridnate":"45.11019283746556","mouseYCooridnate":"65.6290531776913","editedImage":null,"widthOrg":2904,"heightOrg":1542,"bgcolor":"#4f46e5","textcolor":"#fff","imgState":null,"trimStart":"0","trimEnd":"100","videoWidth":null,"videoHeight":null,"videoDuration":null,"audio":"https://media.supademo.com/cln7t1r9g10fypemfz4357318/audio/Atb3NDgTO7uadt51LLI8V.mp3","audioText":"Now, enter the percentage for this rule. Please note this percentage dictates your gross margin by sales account. For example, if you enter 30%, that means your gross margin for this income account is 70%. Typically, for a young CPG brand, the Cost of Goods Sold percent ranges anywhere from 20% to 80%. Typically for direct-to-consumer sales account, Cost of Goods Sold is lower. For wholesale or retail sales channel, the Cost of Goods Sold percent is higher, due to lower average selling price.","voice":"FPQ1Odtu8U6Edy2qyGcI","audioLanguage":null,"audioDuration":"33.56734693877551","captionsUrl":null,"zoomPositionX":"15.11019283746556","zoomPositionY":"35.6290531776913","zoomWidth":"60","zoomHeight":"60","playbackRate":"1","mediaFitMode":"Cover","mediaAlignMode":"Center","htmlCaptureId":null,"backdrop":"None","pageUrl":null,"recordingSessionId":null,"hotspots":[{"id":"clx2enuvc0hsi35xe2zb0uitm","number":"8","createdAt":"2024-06-05T22:33:43.176Z","updatedAt":"2024-06-05T22:33:43.176Z","default":false,"text":"Now, click on the element.","bgcolor":"#4f46e5","textcolor":"#fff","mouseXCooridnate":"45.11019283746556","mouseYCooridnate":"65.6290531776913","style":"Circle","animation":"Ping","isVisible":true,"boxWidth":"0","boxHeight":"0","prevslide":null,"nextslide":null,"stepId":"clx2enuvc0hsh35xeg6wai0df","tipposition":"bottom","nextButton":true,"textVisible":null,"htmlValue":"

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Congratulations! You have create your sales account specific Cost of Goods Sold rule! Once this rule is created, Pocket will automatically calculate your Cost of Goods Sold when a sales order is recognized, and deduct the calculated Cost of Goods Sold amount from your Inventory Assets. This is how Pocket does accrual based accounting for your Cost of Goods Sold and Inventory Assets. 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