How can I customize my Profit and loss to show only COS relevant to stock currently in the stock asset account i.e. Opening stock+Material COS Less closing stock?

Hi, @hein.

Let me make it up to you by providing how customising the Profit and Loss report works in QuickBooks Online.

We have the option to modify the report. This way, you can see the Cost of Sales (COS). Here's how:

1. Go to the Reports menu.
2. From the Search bar, enter Profit and Loss.
3. Once the report is open, click Customise.
4. On the Distribution account dropdown, choose the Stock Asset account.
5. Click Run report to save the changes.

However, please know that the report summarizes the total income and expenses of your business. So if you're specifically looking for stock assets, you can pull up another report, such as a Balance Sheet report.

Furthermore, QuickBooks provides different options to personalise your reports for clear presentation by checking out this guide: Customise reports in QuickBooks Online.

Also, this article can give you more details about tracking items manually in the program: Track the value of your stock assets.

The Community space is still open for you. So, if you have questions about your company stocks or inventories, let us know. I'll keep the thread open so you can comment back. Take care always.