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December 23, 2021
Question

I set up a few line items in the past and ran a report only to find out that no COG are reflected against the revenue. How can I edit each line item to add a COG?

  • December 23, 2021
  • 1 reply
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so when I run a P

1 reply

McBrideBookkeeping
February 11, 2022

Hey Ryan,

 

It sounds like you mean you added some "Items" or "Products & Services" in Quickbooks? Am I right?

 

When you set them up you are supposed to enter the COGS at that point and link it to your COGS accounts also.

 

However that's only Step 1, you also need to post Bills or Expenses to actually Buy them in Quickbooks which will increase your Inventory Qty's and Values.

 

Only then will you be able to "Sell them" in Quickbooks and have it automatically produce COGS #'s for you.

 

Have a look at this Answer by @LauraAB and see if it helps you?

 

Inventory Management can be a little confusing at first but once you get teh hang of it and set things up properly it's really amazing & helpful.

 

I hope this helps you out !

 

Please mark this answer as a helpful solution if it answers your question
Thanks
McBride Bookkeeping