Congratulations on starting your small business and choosing QuickBooks! Welcome to the QuickBooks Community, PalletMikeB! Since you would like to keep track of your cost of goods sold, you can create an account for it. Here's how:
- Go to the Gear icon at the top, then select Chart of Accounts.
- Click New.
- Choose Cost of Goods Sold from the Account Type drop-down.
- Pick the closest type of Cost of Goods Sold that matches your situation from the Detail Type drop-down.
- Hit Save and Close.
You can refer to this article for more insights: Understand Inventory Assets and COGS tracking.
As far as classifying what would be COGS, I encourage you to reach out to an accountant to determine what's the best fit for your business. We do offer a ProAdvisor service that connects you with QuickBooks-certified accounting professionals within your area. Many of them offer a free consultation. Simply enter your zip code and select search. You will be able to browse through and learn more about their services.
I recommend that you go through these video tutorials for QuickBooks Online to learn your way around, whether it be banking, taxes, reports, expenses, and vendors, to name a few. Fill me in if you have other questions by commenting below. The Community and I are always here to help. I hope you enjoy the rest of your day.