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Non Inventory Expense

Forum|Forum|3 years ago
December 8, 2022
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NON-INVENTORY Question

We order a part from Vendor that is Non Inventory to repair customers vehicle. When placing this item ordered into QB as non-inventory then checking the box "This item is purchased and sold to a specific customer:job" what would the expense account fall under??

When speaking to QB Reps they had me add an expense that stated "Non inventory purchase" but QB auto defaults to Cost of Goods Sold. i just want to make double check whats best so i can fix my errors on prior non inventory items.

QuickBooks Desktop for Mac

Best answer by DHeraV

Welcome to the Community, @WreckditFab,

Let me share some information about tracking non-inventory expenses in QuickBooks Desktop (QBDT) for Mac.

To track any non-inventory expenses, you can choose any expense account that you want. You can also create a new one if needed.

As for the specific account, I recommend consulting your accountant to help you decide on what to use for your non-inventory expenses.

On the other hand, the Cost of Good Sold (COGS) is generally used for inventory, but it can still be used for others.

To learn how to compute the average cost and know which report will help with inventory management, you may want to read this article: Understand inventory assets and cost of goods sold tracking.

Let me know if you require further assistance with tracking non-inventory expenses by leaving a reply below. The Community team is here to help anytime. Have a great day!

DHeraVAnswer

Welcome to the Community, @WreckditFab,

Let me share some information about tracking non-inventory expenses in QuickBooks Desktop (QBDT) for Mac.

To track any non-inventory expenses, you can choose any expense account that you want. You can also create a new one if needed.

As for the specific account, I recommend consulting your accountant to help you decide on what to use for your non-inventory expenses.

On the other hand, the Cost of Good Sold (COGS) is generally used for inventory, but it can still be used for others.

To learn how to compute the average cost and know which report will help with inventory management, you may want to read this article: Understand inventory assets and cost of goods sold tracking.

Let me know if you require further assistance with tracking non-inventory expenses by leaving a reply below. The Community team is here to help anytime. Have a great day!