Hi, everyone. We buy computers and monitors at distributer prices and then charge retail. We do not keep them as inventory, just as we need them for specific jobs. Would I categorize those purchases at COGS or expenses?
Thank you for your response! Is there a way to know how much we make off of these purchases? Like a report to run? What info would I need to make sure is in QB to do this? Thanks again for all of the help!
When I go to create the Cost of Sales account, the options I'm given are:
Cost of Labor- COS
Equipment Rental- COS
Other Costs of Services- COS
Shipping, Freight and Delivery- COS
Supplies and Materials- COS
Would it be Supplies and Materials? Also, now I'm wondering if I have been categorizing other purchases incorrectly? We buy supplies (batteries, cables, tools) while on jobs and I created a Supplies and Materials expense account for these purchases.