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One Auto
April 20, 2020
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Chart of Accounts Cost of Sale vs Purchase?

  • April 20, 2020
  • 1 reply
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Hi, 

I'm a sole trader using QBO Simple  and wondering which Account to put equipment purchased for Projects under, these purchases are to be sold on to the client.

 

There are two types "Cost of Sales" and "Purchases" both with  different Detail Types!

 

I don't track stock/inventory. 

 

Thanks

 

 

 

Best answer by payment after leaving

Hi One Auto

 

As you are purchasing items and then selling them to your clients we recommend that you use the cost of sales account.

1 reply

P
payment after leavingAnswer
April 20, 2020

Hi One Auto

 

As you are purchasing items and then selling them to your clients we recommend that you use the cost of sales account.

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