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Level 1

Cost of Good Sold not reporting

why when i create my purchase order i write under Item detail what i need then when i create the Bill it copy all data from Item detail but does not show the total under Account detail in order for me to see how much i purchase that month from the profit and lost.

 

Yes, if i do it manually it will populate but i am looking to do it automatically.

 

Please help.

3 Comments
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Community Champion

Cost of Good Sold not reporting

If you are looking at Cash Basis reporting you will not see the actual purchase in P&L until you pay the bill.  Toggle your report to Accrual to see if it shows up

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Level 1

Cost of Good Sold not reporting

It does not show up even when I pay the bill. I have to remove the value or total from amount under Item detail to amount under account details.


@john-pero wrote:

If you are looking at Cash Basis reporting you will not see the actual purchase in P&L until you pay the bill.  Toggle your report to Accrual to see if it shows up


 

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QuickBooks Team

Cost of Good Sold not reporting

Hi there, @ubierita!


I’m here to add up some information to the answer provided by John Pero.


When entering Purchase Orders or Bills, you can opt to use either or both the Account and Item details sections. The first one is for your company expenses, while the latter is for the product/services you purchased.


Though they are used separately, both are connected to each other, which is why it only has one total amount field. Example, if you entered a Meal expense of $100, then a product/service of $100. The totals will show $200.


The option to enter separate total amount fields for these sections is currently unavailable.  You need to manually calculate which portion is from the expenses and items.


Whatever details you enter in the Purchase Order should show in the Bill once copied. You can check out screenshots 1 and 2 that I’ve added below for visual reference.


Additionally, in the Profit and Loss report, all expense transactions will show as they are. While the products/services you’ve entered in the Item Details part will then show in the P&L under Purchases (see screenshot 3).


I also want to encourage you to send us some suggestion to include this option (separate totals for the Account and Items Details sections in P.Os and Bills) into QuickBooks Online in the future updates.


To send one, visit this link: http://feedback.qbo.intuit.com/forums/168199.


That’s it! Rest assured that these transactions should show in your Profit and Loss report.


If you have other questions in mind, feel free to update this thread. I’ll be around.

Screenshot 1 Screenshot 2 Screenshot 3

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