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Buy nowI am new to QB online and apparantly mis-categorized a lot of my expenses to the point that when i did my tax report, most of my stuff bought for resale did not get deducted, so its showing way to much profit. Ive gone in and re-catergorized many of them, but it's not changing on the tax report. Surely there is a way to change it.
Help Please!
Solved! Go to Solution.
The purchase of something to resell becomes an expense when it sells, not when you buy it.
The purchase of something to resell becomes an expense when it sells, not when you buy it.
So, I have been categorizing my sale as income. They need to be Recatergorized as an expense?
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