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Level 1

P&L Report

My P&L shows COG's from vendors which is correct.  However, my invoice to customer is also in my COG account.  This causes a duplicate in the COG and therefore overstates the COG.  What am I doing wrong?

1 Comment 1

P&L Report

Hi there, @cyndykio.


Cost of Good Sold (COGS) is reported from the vendor bill if you run the report in Cash Basis. On the other hand, COGS is reported from the invoice if the report is in Accrual Basis hence there will be no duplicate transactions for your COGS.


You'll have to customize your reports depending on the Accounting Method for your Profit and Loss Report. Here's how:


  1. Go to the Reports menu.
  2. Choose Custom Reports.
  3. Type for and select the Profit and Loss Report you want.
  4. Click Customize then choose an Accounting Method.
  5. Hit Run Report.

Also, here's a helpful article that you can check out to learn more about how to customize your reports in QuickBooks Online: Customize your reports in QuickBooks Online.


Don't hesitate to leave a comment below if you've got any QuickBooks concerns. Have a wonderful day and take care!

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