Good to hear from you today, GAL.
Let me share some information regarding the check showing credit forward in QuickBooks Online.
If you view the Check register, this will not show the COGS as the Cost of Good Sold is recorded from the bill where this payment is applied.
The COGS are recorded either from the Invoice or the bill that was created. The Check register will only show it as a payment to the Accounts Payable.
You can get more details in this article about the COGS: https://quickbooks.intuit.com/community/Help-Articles/Understand-Inventory-Assets-and-COGS-tracking/....
If you require more information about bills and COGS in QuickBooks Online, please let me know. I'm here to provide them for you.
Some liquor bills were from 'pay bills' and show up as credit forward but others are showing up as expense and listed as cost of goods. Are the two different ways that are showing in the register going to mess up cog? Or is it two separate ways to the same end. I want to be consistent and would like to correct the entries sooner rather than later. Thanks for follow up. Printed out your response! G
Allow me to share additional information about posting of items in your COGS via QuickBooks Online.
If you enter bills or expenses in QuickBooks Online and those transactions are posted in COGS, then most probably you're using the COGS account instead of Inventory Asset.
To better isolate the issue and to correct the entries, you may want to check the account used for the items. Ensure that Inventory Asset is the default account.
This way, the posting of entries will be corrected. I'm including you an article for your reference: How to change the account for a product/service item.
Get back to me if you need more information regarding expenses and COGS accounts in QuickBooks Online. You have a wonderful day.
I'll have to back and read your link in detail and then figure out how to correct for consistency. When I accept liquor I go to: '+', vendor, bill and fill in item details only. When I do to pay the bill I go +, vendor, pay bill. Some of the historical entries for paying liquors appear in the register as: Uncategorized expense, cost of goods sold, 2800 credit forward. I'm all over the ballpark. Thanks.
Just saw this reply so I will go back and try that. Assume I can correct all the 'old' entries as well.
Sending good vibes to you, GAL.
You know where to find me if you need more help. The Community is around your corner.
Have a good one.