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analiza
Level 1
posted
‎September 26, 2019 04:30 PM
last updated ‎October 05, 2020 9:31 PM

What is the difference of Material - COS vs. Cost of sales

 
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6 Comments 6
Rustler
Level 15
‎September 26, 2019 04:30 PM

What is the difference of Material - COS vs. Cost of sales

COS, Cost of Sales, is typically used for businesses that do not stock and sell inventory type items

COGS is associated with inventory sales

Using those two type accounts get that cost out of operating costs on the P&L, these accounts show a reduction is gross income on the P&L, before the operating costs are used to show the bottom line.

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asha_kanta_sharma
Level 6
‎July 18, 2020 01:36 AM

What is the difference of Material - COS vs. Cost of sales

agreed...

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ShaileshBansal
Level 1
‎March 13, 2021 09:38 PM

What is the difference of Material - COS vs. Cost of sales

How to disable/remove Cost of Sales entirely, including past transactions.

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AileneA
QuickBooks Team
QuickBooks Team
‎March 13, 2021 10:53 PM

What is the difference of Material - COS vs. Cost of sales

Hi there, ShaileshBansal. 

 

Thank you for reaching out to the Community. I can help you make inactive your Cost of sales in QuickBooks Online. 

 

Though, we're unable to totally delete it just in case you still want to use its details. However, we can inactivate it so it'll not be listed on reports and transactions. 

 

Let me guide you through the steps:

 

 

  1. Click the Gear icon.
  2. Select Products and Services.
  3. Drop down arrow from the Edit.
  4. Choose Make inactive.
  5. Press Yes to complete the action.

 

I hope that helps sort this out a bit. I've got a few articles for your review that give a more in-depth look at how each of these things work and work together. 

 

 

Give me a shout if you have more questions. Stay safe!

 

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ShaileshBansal
Level 1
‎March 13, 2021 11:13 PM

What is the difference of Material - COS vs. Cost of sales

The suggested way seems to be to inactivate some item and not to remove cost of sales from that item. And this is what is happening for months now where I am trying to remove Cost of Sales from my account but all I am getting is answer to do something but way to disable/remove/delete cost of sales.

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Adrian_A
Moderator
Moderator
‎March 13, 2021 11:51 PM

What is the difference of Material - COS vs. Cost of sales

I appreciate you for getting back to us, ShaileshBansal.

 

As my colleague shared above, we're unable to remove the Cost of sales however, we deactivate it. You can follow my colleague, AileneA's, steps to do it.

 

You can also check these references when managing inventories:

 

 

I'll be around if there's anything that I can help. Keep safe!

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