My COGS on my PL is all over the place!

I'm delighted to see you in the Community today, niravkhiroya.

I appreciate the detailed information about your concerns. This provides us with a better idea of what happened to your sales and COGS. I'm here to direct you to the support channel that can assist you in correcting the amount for the above-mentioned accounts.

Some transactions and features do not transfer from QuickBooks Desktop (QBDT) to QuickBooks Online (QBO). That's why you'll have to manually add the entries to the online platform to keep your records accurate. 

Aside from that, the default inventory costing method in QuickBooks Desktop is the average cost. QBO, on the other hand, follows the First In, First Out (FIFO) concept. For additional resources, this reference provides detailed information on how your books move from the desktop program to the online version. It's from another region, but it still applies in the UK version. 

After entering the transactions, run your Profit and Loss report and double-check the sales and COGS amounts. Here's how:

1. In your company, head to the Reports menu on the left panel to open the Reports Center. 
2. Enter Profit and Loss in the search field.
3. This action will open your financial statement.
4. From there, set the correct date range.

If the information remains incorrect, I recommend you to contact our QBO Care Team again. One of our specialists will review the notes from your previous call and then proceed with the troubleshooting steps. To get there, follow the steps below:

1. Go to the Help icon at the top to display the Search window.
2. From there, click the Contact Us link to access the What can we help you with? section and then enter a brief description of your concern in the field box.
3. Tap the Continue button to see the list of support options.
4. Select Chat to start a conversation or Callback to speak with an agent.

You can go over this link to learn more about how the online platform handles inventory. I want to make sure you have all of the resources you need when working in QBO. I've included a link to our self-help articles and online tutorials below:

• Community Guide
• Learn your way around QuickBooks

If you require additional assistance while working in QBO or have any product-related concerns, click the Reply button and leave your feedback. I'll jump right back in to assist you as best I can. Have a wonderful day.

Hi Rasa,

Sorry if I wasn't clear but I use QBDT for my other companies.

The company in question Parties by Plasware has only ever been set up on QBO since the 1st June 2021. Hence it has nothing to do with how stock was transferred from a desktop file.

The stock is entered into QBO via a third party integration APi for Linnworks. 

I await your response or further questions.

Kind regards

Nirav 

Hi there, niravkhiroya.

I appreciate you for coming back to the thread and adding additional details about your concern. With this, I'll ensure that you're directed to the appropriate person who can provide you with additional information on how data from your third party works in QuickBooks.

Since you've mentioned that the stock is entered into QBO via a third-party integration API for Linnworks, I recommend contacting their support team. This is because the downloaded data in QuickBooks depends on what your Linnworks shares with us. They have the tools to verify the cause of why COGS are way out of £200k sales with over £2m in COGS in your profit and loss report.

Lastly, you may refer to this article to see various details on how QuickBooks handles inventory assets, average cost, and Cost of Goods Sold (COGS): Understand inventory assets and cost of goods sold tracking.

If you have other questions about the information shared above or any related concerns with QuickBooks, please let me know by adding a comment below. I'm always here to help, niravkhiroya. Keep safe!