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ajsplumbingtilin
Level 1

As a tradesman, how do I log my COGs? I had an invoice paid and part of that was my materials. I have the receipts of the materials but not sure how to correctly log them

I am completely lost! I don't want to log as an expense because although I paid out myself for the materials I now have been paid for them via the invoice. When I scan in the receipt I can't find any category that would possibly fit. I tried to set up COGs in my Chart of Accounts but not sure where to go from there or if what I've done is correct.
Thanks in advance for any advice!
Ant
3 REPLIES 3
Ashleigh1
QuickBooks Team

As a tradesman, how do I log my COGs? I had an invoice paid and part of that was my materials. I have the receipts of the materials but not sure how to correctly log them

Hello Ajsplumbingtilin,

 

Welcome to the Community page, 

 

We would advise you speak to a trained and qualified accountant who will be able to help you with this question as we are only technical support not trained accountants. 

Dave Berry
Level 1

As a tradesman, how do I log my COGs? I had an invoice paid and part of that was my materials. I have the receipts of the materials but not sure how to correctly log them

Hi Ant

 

Your sales Invoice may include a breakdown of Labour and Material used and this is recorded as a sale in QB.

 

When you purchase materials I would just put them under Purchases in QB and this will be picked up when you produce your annual accounts in the same way you would for any expense such as motor,

 

Hope this is of assistance.

 

Dave B

Ashleigh1
QuickBooks Team

As a tradesman, how do I log my COGs? I had an invoice paid and part of that was my materials. I have the receipts of the materials but not sure how to correctly log them

Hello Dave, thanks for posting on this thread. 

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