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criesner
Level 1

drop shipping

i have printful.com fulfill shirt orders for me, that price is the cost of the good, cost to create the good and cost of shipping to the customer. should I be splitting those up or just leave it as cost of goods sold? or make a category like cost of goods sold: drop shipped product 

3 Comments 3
Charies_M
Moderator

drop shipping

Hello there, criesner.

 

Thanks for taking the time checking in with us. I've got some details to share with you about drop shipping in QuickBooks Online (QBO).

 

You can setup an item and use COGS as your account. Use Non-inventory as the type of item. Doing this will track both sales and the purchase accounts assigned to the item.

 

Here's how:

  1. Go to the Gear icon.
  2. Under Lists, select Products and Services.
  3. Click New.
  4. Click Non-inventory.
  5. Enter the necessary information and make sure to enter an Cost of Good Sold account as your account.
  6. Select Save and close.

COGSSSSSS.PNG

 

For more information about handling drop shipping in QBO, feel free to check out this article: The Complete Guide To Dropshipping.

 

Reach out to me if you have additional questions and I'll surely get back to you.

Notalemming
Level 3

drop shipping

We drop ship most, if not all, of our products.  It is my understanding that if we do not keep inventory then we should not use COGS sold for those non-inventory products, as COGS is primarily for inventory sales.  We were told to use COS for the expense account.  How do these two accounts differ in the financials?  And what items should not be part of the Inventory Asset account?

userakerslbrianlbria
Level 1

drop shipping

Hello, This form for drop shipping has changed. The Cost of goods sold falls under what "Account Type" Expenses or other expenses ????  etc.  Thanks, I'm quite new to drop shipping any more information you can add would be great!!

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