Self Assessment for tax not showing full cost of goods

Let me provide you information about how the Cost of Goods sold calculated in QuickBooks Online, Daltons.

Cost of Goods Sold (COGS) is calculated by adding the cost of inventory at the beginning of the year to purchases made throughout the year. COGS helps you determine the value of your inventory for calculating business assets that's why it's only under one account. 

In addition, calculating COGS helps you determine how much you owe in taxes at the end of the reporting period. However, if you still want for your COGS to be tracked to a different account, I recommend reaching out to your accountant for other ways on how to do it. 

Please go through these help articles if you have any questions about QuickBooks. 

Don't hesitate to keep in touch if you have further questions about COGS. We're only just a few clicks away if you need help with anything else.

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Hello Daltons, 

So you could run a report on expenses once you have entered them from that section, I would suggest you have a look at the other 2 and how they are being entered as an item expense or by the account. 

It might be worth ring the helpline on 0808 234 5337 and then can set up a screen share with you and they can then drill into the different sections and see what is going on.