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XL_Velo
April 23, 2021
Question

COGS and P&L discrepancy

  • April 23, 2021
  • 1 reply
  • 6 views

Hello again, I ran a Profit and Loss report and noticed that my COGS is only showing a few shipping transactions and none of my inventory items.

 

All of my inventory has a starting date and starting value, with a sale price and cogs price, so that is not the issue. In fact, when I run a COGS report, I get a sum of the COGS.

 

I also checked to make sure the funds are not sitting in an undeposited account, and they are not.

 

Please see the attached screenshot. What am I missing? Thank you.

 

 

1 reply

E
Ethel_AQuickBooks Team
QuickBooks Team
April 23, 2021

Hello there, XL_Velo.

 

I appreciate you reaching out to us here in the Community with your concern about the Profit & Loss report.

 

For the shipping COGS, it will not be included in COGS with inventory product if the shipping is not included in the cost of the item.

 

You may also check on how to customize reports in QuickBooks Online to add some options that you want with your reports.

 

If you have any other questions about running reports, please don't hesitate to reach out. I'm always here to help.

X
XL_VeloAuthor
April 23, 2021

Hi, I'm not concerned with those few shipping charges, I'd like to know why the 22K of inventory sales does not show up on the COGS portion of the P&L report. 

AlcaeusF
AlcaeusF
Level 14
April 23, 2021

Thanks for getting back to us, @XL_Velo.

 

Since the inventory sales are still not showing after checking it, try signing into your QuickBooks Online (QBO) using a private browser (incognito). There are times that the browser is already full of frequently accessed page resources, causing some unusual responses.

 

Here's how:

 

  • Press Ctrl + Shift + N (Google Chrome).
  • Ctrl + Shift + P (Firefox).
  • Control + Option + P (Safari).

 

Once logged in, pull up the Profit and Loss report again to double-check.

 

If they're showing, return to your default browser and perform a clear cache to refresh the system. However, if the issue persists, try using other supported browsers.

 

To learn more information about managing reports in QBO, consider checking out this article for future reference: Run reports in QuickBooks Online.

 

I'm also adding this article that tackles tracking your inventory in QBO: Set up and track your inventory in QuickBooks Online.

 

Don't hesitate to leave a comment below if you have any other issues or concerns. I'm more than willing to assist. Have a wonderful day!

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