In the chart of accounts you can create a COGS type account called Cost of Sales (COS). The only thing that does that is different than using an expense account is where it shows on the P&L. it is up to you which way you do it.
COGS, at tax time, is the cost of items held as inventory and sold
In the chart of accounts you can create a COGS type account called Cost of Sales (COS). The only thing that does that is different than using an expense account is where it shows on the P&L. it is up to you which way you do it.
COGS, at tax time, is the cost of items held as inventory and sold
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