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OK, with about 4 attempts with restoring from backup to erase my mistakes each time, I found the solution.
First, it will not work with a 'service item', no matter how I set the three accounts in the item that is added to the assembly.
A Non-Inventory Item does work, but the 'Asset' account must be set to the account you want to use for the 'commission' or 'fee' screengrab attached.
Hi @MikeMakesWhisky,
Let's see if we can figure this out. If tracking the COGS to an Assembly, the Assembly item in QBPOS should have accounts listed.When the item has a Average Unit Cost in QBPOS, and is sold, the Cost would move from the Asset account to the COGS account, assuming they are different accounts.
Let's try this:
This should reflect the receipt in QuickBooks Desktop and the Journal Entry associate to COGS for that sale. Then you can work backwards to locate the COGS amount specific to the Service Item and make another Journal Entry to debit the impacted COGS account and Credit whatever account you are using to track your payouts to the Vendor.
If you run into trouble, I would suggest reaching out to Point of Sale support so they can walk through this with you. The link below will provide you with the contact options for the Point of Sale team:
Point of Sale is the first option in the article on that link. Hope that helps!
Thank you for taking the time to respond. I manually traced and found the transactions by doing the test runs on a day we were not open and had no activity, because I forgot about the "i want to.. view financial transaction" method. Thank you for reminding me.
The service item is not showing in the transaction. But if you think about it, that is to be expected, the 'assembly item' at this point is a single item, and only moves one account to cogs by design... in this case 'inventory - PT- Spirits' to 'COGS - PT Spirits' (and also 'sales' to 'undeposited funds'/'cash in drawer'). I learned that the hard way trying to get an assembly to hit two accounts when sold, it took some head scratching and help from this community to figure that out..
Screenshots are attached.
With that being the case, I think that the service account should be hit when the assembly items are 'built', as that is when my 'inventory- raw materials' items are turned into 'inventory - PT Spirits' by quickbooks. I would think that it is at this time that the service item would also be transferred into the inventory item. I am thinking instead of a 'service', I may want to try a 'non-inventory' item instead.
It would be really nice if the actual financial mechanics of an assembly, it's creation, and subsequent sale were explained better in the documentation.
Finally, thank you for the links to the support center for various products, I always seem to have problems finding the right information.
OK, with about 4 attempts with restoring from backup to erase my mistakes each time, I found the solution.
First, it will not work with a 'service item', no matter how I set the three accounts in the item that is added to the assembly.
A Non-Inventory Item does work, but the 'Asset' account must be set to the account you want to use for the 'commission' or 'fee' screengrab attached.
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