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hollyshort18
April 19, 2024
Question

Report including Cost of Sale

  • April 19, 2024
  • 1 reply
  • 0 views

There used to be a report called Sales by Item Report.  This showed me the cost of goods I sell so I could see profit make per item sold.  I cannot find this report or anything similar anymore.  I have entered the costs for all of my product & upgraded to the highest level of Quickbooks.   The Sales by Product/Service has COS/Gross Margin columns but no data in it when I run it.  Possibly because I am selling products rather than services.

 

Can anyone help me please.

 

Thank you very much

 

Holly 

1 reply

JoesemM
JoesemM
April 19, 2024

I recognize the need to run a report that shows the profit for the item you've sold in QuickBooks, hollyshort18. Let me share the Sales by Product/Service Summary report that will show the details you need.

 

The Sales by Product/Service Summary report will show the total sales for each product and service. When you run the report ensure that there's a cost amount in your product and service for the data to show in the column. To run the report follow the steps below:

 

  1. Go to Reports.
  2. Enter Sales by Product/Service Summary in the search field.
  3. Choose the date range in the Report period.
  4. Click Customize to filter the necessary details you want to include in the report.
  5. Select Run report.

To get the most out of your reports, here's an article you can refer to: Customise reports in QuickBooks Online using modern view. Also, to check the status of your stock and its best sellers, open this link for more details: Use reports to see your sales and inventory status.

 

 Let me add these resources that will guide you in managing your stock and how to record customer payments in QuickBooks:

 

 

Please feel free to share any other concerns or questions related to reports or QuickBooks. I am here to listen and help you out anytime. Stay safe!

H
hollyshort18Author
April 20, 2024

Thank you.  I have tried this report but unfortunately it is not showing any costs.  I have costs entered for my products.  They are non stock items though - does this make a difference?  I don't think it should but I'm just checking.  Is there anything I should enable for the costs to show in the report?

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AileneA
April 20, 2024

Hello, hollyshort18.

 

I'm here to provide you with the necessary information regarding non-stock items and their impact on the cost of sales in QuickBooks Online.

 

In QuickBooks Online, the cost of sales is designed to track the direct costs associated with the sale of inventory items. However, non-stock items are not considered inventory items; therefore, their costs are not included in the cost of sales report by default.

 

Non-stock items are typically used for items you purchase or sell but do not track the quantity on hand. They are often used for services, fees, or one-time purchases. Therefore, the cost of these items is not factored into the cost of sales calculation.  

 

 

 

 

 

 

You can also use these articles for reference about the items:

 

 

I hope this clarifies how non-stock items are treated in QuickBooks Online about the cost of sales, which will be shown in the report. Should you have any further questions or need additional assistance, please don't hesitate to ask. Have a great day!

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