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jcazzola
Level 1

I have just started Quickbooks for Etsy. I need add a category for the purchase of items I sell. Is it possible to add this category Cost of Goods Sold and if so, how?

 
1 Comment 1
Jen_D
Moderator

I have just started Quickbooks for Etsy. I need add a category for the purchase of items I sell. Is it possible to add this category Cost of Goods Sold and if so, how?

I can share some insights about tracking COGS for Self-Employed, @jcazzola,

 

QuickBooks Self-Employed does not track inventory. This is the reason why we don't have a Cost of Goods Sold category when tracking purchases. For now, you can use the Other Business Expenses for these type of transactions.

 

In the Inventory section of TurboTax, you will be asked for your ending inventory value and other information to determine your Cost of Goods Sold. 

 

Having this option in QBSE is a great idea, so I'm submitting this request to our developers for evaluation. They are the ones who release product enhancements and update to ensure customers get the best experience when working with QuickBooks.

 

If you need a more complex accounting software, you may upgrade your account to QuickBooks Online. Checkout these links to guide you with our current plans and pricing offers:

 

QuickBooks Online Sales

Pricing and subscription levels for QuickBooks Online

 

If you have any questions, please feel free to post them here or mention my name. I'll be here to help at any time. Have a nice day!

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