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One Auto
Level 2

Chart of Accounts Cost of Sale vs Purchase?

Hi, 

I'm a sole trader using QBO Simple  and wondering which Account to put equipment purchased for Projects under, these purchases are to be sold on to the client.

 

There are two types "Cost of Sales" and "Purchases" both with  different Detail Types!

 

I don't track stock/inventory. 

 

Thanks

 

 

 

Solved
Best answer April 20, 2020

Accepted Solutions
John C
QuickBooks Team

Chart of Accounts Cost of Sale vs Purchase?

Hi One Auto

 

As you are purchasing items and then selling them to your clients we recommend that you use the cost of sales account.

View solution in original post

1 REPLY 1
John C
QuickBooks Team

Chart of Accounts Cost of Sale vs Purchase?

Hi One Auto

 

As you are purchasing items and then selling them to your clients we recommend that you use the cost of sales account.

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