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Hello, I need some help on how to account for COGS. I manually enter the monthly sales and inventory but I don't know how to match it with COGS. Thank you

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QuickBooks Team

Let me share some information about Cost of Goods Sold, i...

Let me share some information about Cost of Goods Sold, info.

When you sell inventory items on invoices or sales receipts your Cost of Goods Sold (COGS) will automatically affected or matched. 

You can run the Journal Report for the invoice/sales receipt. From here, you'll see the Sales/Accounts Receivable transaction and Inventory/COGS transactions. Here's how to run the report:

  1. Go to your Reports tab from the left menu. 
  2. Search for Journal from the search box, then run the report.
This report will show the debits and credits for each transaction listed by date. 

You can refer to this article for more information about the impact of inventory tracking on balance sheet and profit & loss reports.  

I'm always here if you have additional questions about COGS tracking or other concerns, by leaving a comment below. Take care and have a wonderful day.