Sales Receipt and cost

Hi genify. If you need help with sales receipts, head over to our article on how to create sales receipts . If that's not what you mean to ask, just leave a reply below so I can get to the bottom of your issue for you. Thanks, and have a good day. 

Hi Steve,

Please note, this is via the API not via the UI.

I am already creating Sales Receipts in my API but my client wants to record the cost associated with each sales receipt.

Under a normal inventory system, items would be recorded in inventory and a COGS would be recorded against each item. In this custom system, however, every item is unique so the inventory method does not apply.

The client wants to record some thing like:

Item: 'Geode number 4572 weight 2kg, Sold $100 Purchased $50, Profit $50".

I am looking for an API method (i.e. the required transactions) to record the sale price and the cost price and be able to report on the line item profit.

Thanks

Hi Steve,

I am unable to post to the forum, so sorry for the vague description.
This is an API question not a UI question.

I have an inventory system where everything is uniquely tagged. For a specific tag, I have both the price it was sold at and the cost it was purchased for.

Since every item is unique, there is no possibility of using Inventory (or Customers).

What I want to do is record the sales price AND the cost in the Sales Receipt so that I can produce a report showing the margin for each individual item. These transactions are sent to QB via the API so this is not a UI question.

e.g. "Item Geode 4732 Weight 2kg, Sold for $100, Purchased for $50, Margin $50" and do this as a report.

Does anyone have suggestions for how to accomplish this? Or alternatives?

Hi genify. I recommend you look into our API reference guide. There are instructions for most if not all the transactions available in QuickBooks Online. It will be up to you and your client to determine which would be the best fit for your custom application though.

 A good suggestion though would be using expenses to keep track of the cost and the sales receipts or invoices to keep track of the amount items are sold for. If you want more of an accountant's input on this subject, we have the find a pro advisor page where you could find an accountant in your area to work on this with you. 

Let me know if you have any other questions and I'll be happy to help.