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PellMell
Level 1
posted
‎January 13, 2021 08:57 AM
last updated ‎January 13, 2021 8:57 AM

Credit for Recycled Material

I'm in metal fabrication and received a recycling check for defective material we recycled. Would it be correct to make it a credit to COGS as opposed to a sale?

 

Thanks in advance!

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Best answer January 14, 2021
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Rustler
Level 15
‎January 14, 2021 05:46 AM

Credit for Recycled Material

Either create an income account called recycle or use Other Income, I would use Other Income my self

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3 Comments 3
Rustler
Level 15
‎January 14, 2021 05:46 AM

Credit for Recycled Material

Either create an income account called recycle or use Other Income, I would use Other Income my self

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PellMell
Level 1
‎January 14, 2021 09:26 AM

Credit for Recycled Material

Ahh that makes sense. Thanks for the reply and input, I really appreciate it. 

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Jessica_young
Moderator
Moderator
‎January 14, 2021 09:34 AM

Credit for Recycled Material

Glad you got this worked out, @PellMell.

 

Please don't hesitate to reach out with any other questions you may have! 

 

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