posted
Welcome to the Community, @usavsolutions.in.
I understand how important it is to have the debited Cost of Goods Sold (COGS) amount shown in QuickBooks Online (QBO). However, it could have something to do with the dates selected when running the Profit and Loss (P&L) statement, which is why it doesn't show in the report.
When running a P&L in QBO, let's make sure that the dates selected in the report are correct. You can also customize or add filters before running the P&L report.
Here's how:
- On your QBO account, go to the Reports tab, then select Profit and Loss.
- On the upper part of the page, select the correct dates. Tip: Click on Customize to add new filters.
- In the Filter section, make sure that the All or All Cost of Goods Sold Accounts is selected to see the COGS amount.
- Once ready, click on Run report.
For detailed steps, kindly visit: Customize reports in QuickBooks Online.
Moreover, let's also make sure that the Expense account selected for your products or services is linked to the Cost of Goods Sold account.
To check if your sales items are linked to COGS, here's how:
- On your QBO account, go to the Gear icon, then select Products and services.
- Locate the items you want to check, then click on Edit.
- Untick the Description box.
- In the Expense account section, make sure that the Cost of Goods Sold is selected.
- Once done, click on Save and close.
For more details about COGS, kindly visit: Understand inventory assets and cost of goods sold tracking.
Additionally, I'll also share this link where you can search for articles that can serve as your reference in running reports in QBO: Financial Reports Help Articles in QuickBooks Online.
Feel free to leave a reply if you require further assistance with financial reports in QuickBooks. The Community team always has your back. Have a good one.
