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Level 1

In QBO, how do I bring up COGS (Cost of Goods Sold?

 
1 Comment
QuickBooks Team

In QBO, how do I bring up COGS (Cost of Goods Sold?

Hey, @lschwartz3648.

Let’s dive into how to access COGS in QuickBooks Online.
 

You can manually track the value of your inventory assets in QuickBooks Online. To start, you can create an account to track your inventory value if you haven't done so already. Here's how:

  1. Select the Gear icon, then Chart of accounts.
  2. Click New.
  3. Select Current assets from the Account Type drop-down.
  4. Select Other current assets from the Detail Type drop-down.
  5. Hit Save and Close.

Second Create an account to track your cost of goods sold.

  1. Select the Gear icon at the top, then Chart of Accounts.
  2. Click New.
  3. Select Cost of Goods Sold from the Account Type drop-down.
  4. Select the closest type of Cost of Goods Sold that matches your situation from the Detail Type drop-down.
  5. Hit Save and Close.

You can access more information on inventory tracking with this article: Understand inventory assets and cost of goods sold tracking.

 

Let me know if I can help with anything else here. Have a great afternoon!

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