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When I don't pay COGS @ POS, I get weekly bill.If I input bill, it dsnt let me classify as COGS.How do I classify expns as COGS while maintaining accurate accnts rcvbl?

 
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QuickBooks Team

Re: When I don't pay COGS @ POS, I get weekly bill.If I input bill, it dsnt let me classify as CO...

It’s nice to see you in the Online Community, jsfamilyautorepa.

 

Let me point you in the right direction about classifying expenses as COGS.


When the item you’re working on is tracked as inventory, it’s automatically classified under COGS. This is because the first time you add an inventory item, QuickBooks uses this account to track how much the goods that were held in inventory cost when they are sold.


You may want to consider checking with your accountant for information on how your business should classify expenses as COGS while maintaining an accurate record of your accounts receivable. I’m also adding a link with detailed information how QuickBooks handles COGS.

 

Just as heads up, it’s from the desktop version but it also applies in QBO: Understand Inventory Assets and COGS tracking.

 

In case you want to change the item’s type, check out the Product and Service types article for more details.


This should get you in the right path. Let me know how it goes after reaching out to your account by leaving a comment below. I'm always here to assist further.

 

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