How to close the COGS account in the contest of Schedule VI of Companies Act. wherein raw material consumption, power consumption, fuel consumption and details of expenses are to be shown separately.

hi,

Raw material consumption will automatically go into the COGS-material cost based on the Invoice details accounts you maintain

For other absorptions of cost for utilities create seperate service item codes in the item master with different cost price components
and invoice details for those items so that u can arrive at the different COGS costs.

Item surcharges can be effectively used for these and attached to the cost price components

hope this is clear

regards

Sajit