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C
CMCDA123
June 11, 2020
Question

HST Filing: Hair Salon Products

  • June 11, 2020
  • 1 reply
  • 0 views

Just wondering how products in a hair salon are categorized. Inventory was never tracked properly only sales.

How would you classify the following:

 

Products sold to clients off the shelf

Products used during appointments (ie. shampoos, hair dye etc..)

 

Im thinking products sold would be general sales and products used would either be COGS (cost of goods) or Job Materials. 

 

Thoughts?

1 reply

L
LauraAB
June 11, 2020

Welcome back, CMCDA123,

 

I hope things have been well for you and your business and it's great to have you join us again. I can see how navigating this sort of situation requires precision when it comes to the accounting portion of it, and I want to make sure you get the answers you need.

 

This is a perfect opportunity to connect with an accountant. Not only will they be able to offer you advice on how to set up and allocate different products in your books, they'll also be able to help you sort this out since the inventory hasn't been tracked properly to this point. It may take some untangling of how things have been recorded to figure out how to make changes so your books balance.

 

QuickBooks Online has two ways it helps connect you with an accountant. The first way is by giving you the option to invite them on as an accountant user to your books through the field in the My Accountant tab. This gives them access to your account with the tools they need to complete their accounting tasks. The My Accountant tab also has a useful button: Find a pro to help. With this, you can search your area for QuickBooks-certified professionals.

 

Here are some help articles that have more details about inventory tracking in QuickBooks Online.

Have a great rest of your day. :)

C
CMCDA123Author
June 11, 2020

I’m not currently looking for an accountant. Thank you for your input though. It is appreciated. 

L
LauraAB
June 11, 2020

I'm happy to assist!  As a technical support agent, I'm unable to advise on things like picking categories or the finer details of managing your books, which is why I've recommended an accountant. It's important to me that you get this sorted out and that your books are accurate. I encourage you to make the best decision for your business.

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