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R
RRepairShop
July 27, 2022
Question

What account for parts used in small engine repair shop?

  • July 27, 2022
  • 1 reply
  • 0 views

Can anyone please help me with this answer as I cannot get a response from my accountant, so please don’t say to ask him. I’ve been waiting since last Wednesday to speak to him. 

We have a small engine repair shop and don’t keep inventory but order parts for each repair. When I do the sales receipt what income account do I put the parts used into. Some say COGS and others say not COGS as we are not selling the parts. Someone else told me I put it in an expense account, but I didn’t think that was correct either. 

1 reply

J
JamesM4
July 27, 2022

Hi RRepairShop, 

 

Thanks for contacting us here. QuickBooks is a hassle-free program that simplifies the way you manage your accounting. I'll be glad to point you in the right direction so you can achieve your QuickBooks goals. Recording your transactions the right way is a good exercise for keeping your books accurate.

 

To ensure accuracy in your books, I recommend contacting an accounting professional to get expert advice. Doing this will help prevent any future discrepancies in your books. You can also reach out to accounting professionals on our site using this link here. In the meantime, check out this helpful article that shows you how to: Categorize and match online bank transactions in QuickBooks Online.

 

I'll also leave this question here so other accounting professional members can chime in and share their expert advice. Let me know if you have other questions, I'm here to assist.

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