Print on demand costs

Ok, that makes sense. Do I post all costs there, like shipping costs the print on demand company charges along with the product expense?

Anyone know the answer to this?

Thanks for posting here, @jaywolfe,

Before doing anything, I always recommend consulting an accounting professional for this. They can provide accounting advice for your business type and guide you with the right thing to track your cost accurately.

Some of us here are not trained tax professionals, so you will need them for confirmation.

If you need to set up the expense account, use the steps below:

1. Go to the Gear icon then Chart of Accounts.
2. Click New then pick Cost of Goods Sold.
3. Pick a COS Detail Type the add the name of the account. See this example:
4. Once done, click Save and Close.

To add an item to assign the COS, follow the steps below:

1. To do that, tap the Gear icon the choose Products and Services.
2. Click New then pick the type you want to use.
3. Make sure to associate the correct accounts you created in the Chart of Accounts into the item.
4. Fill out all the information about the item then press Save and close.

If you have any questions about this, please let me know in the comment below. Have a god one!

Hi,

There is no COS By itself under COGS, only other cost of services - COS cost of sold goods, is it the same Cost of Sales (COS)?

Thanks for joining the thread, BUTTERFLY11.

I'll be glad to share what I know about  COS and COGS.

Cost of Goods Sold, (COGS), can also be referred to as cost of sales (COS), cost of revenue, or product cost, depending on if it is a product or service. It includes all the costs directly involved in producing a product or delivering a service.

The Cost of Sales and Cost of Goods sold both track how much it costs a business to produce a good or service to customers. 

There is almost no difference between the two. The terms are typically used interchangeably in accounting

I recommend consulting your accountant for help in selecting which to use in tracking stocks.

This article will help you add product and service items to QuickBooks Online.

Don't hesitate to post a reply below if you have further QuickBooks concerns. Stay safe and take care always. 

Then is there an app that integrates with POD - Print on Demand platforms such as Merch by Amazon or Printful to automate the POD income? Another question I have is POD - Print on Demand  considered a service? There is no inventory and the income is considered a royalty. Please advise...

Hello there, MaddMiles LLC.

There are different applications that integrate with QuickBooks Online (QBO). Also, we treat all businesses fairly and know that each one has different needs. That’s why I’m unable to personally recommend which one to use.

I can help run a search to find one that best fits your business needs. The QuickBooks Apps Center is a one-stop-shop for programs that works with the online system. You can enter a keyword in the Search box to speed up the process. From the list, check the customers' reviews for a better comparison. For additional resources, this link outlines the complete steps to find an app, and then install it.

In regard to your other concern, I recommend consulting with your accountant for further assistance. They can provide detailed information on how to set up your print on demand list. Reaching out to them ensures your books have the correct information and the item is properly set up in your company.

Once you have the complete details, I’ve included an article that will guide you through the process of setting up your inventory, non-inventory, services, and bundle in QBO: Add product and service items.  It includes information about adding a service or product’s purchasing information, as well as editing the item type.

For future reference, our self-help articles contain topics to help you easily get around any tasks in QBO. They’re grouped according to specific accounting activity or process, so you’ll be able to open the resource right away.

Don’t hesitate to post a comment below if you still have questions about integrating an app with a print on demand platform. I’ll be right here ready to answer them for you. Wishing your business continued success.