COGS not showing up in P/L by class report when using cash basis

Hello there, LDR3.

I can bring some clarity to your question on why Cost of Good Sold (COGS) for your purchased items are not showing up in the Profit and Loss report.

When running cash basis report for Profit and Loss, COGS will only show once a payment is applied to the invoice. You do not get a post to COGS until you sell an inventory item. The purchase on inventory will affect Inventory Asset account.

Also, please know that the cash basis reports will use the invoice/bill date. If this doesn't show in cash basis, it will show when you run accrual basis report.

Here's how to run your Profit and Loss report.

1. Go to Reports.
2. Click Company & Financial.
3. Choose Profit & Loss by Class.
4. Choose Cash as your Report Basis.
5. Click Refresh.

Fill me in if there's anything else you'd like to know more about running Profit and Loss report in QuickBooks Desktop. I'd be glad to help you out.

ok thank you.   We are trying to use class tracking to determine the overall costs associated with used cars that we purchase, rehab and then sell.  Prior to sale, we would like to see the total costs of each car to help us determine a selling price.  Is there a way to accomplish this?