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DonwoodJS
November 15, 2021
Question

Cost of Sales - Joinery Sole Trader

  • November 15, 2021
  • 1 reply
  • 0 views

Hello,

 

I'm looking for some information regarding how/where i should report my material costs. 

I provide joinery services to my customers, and i buy the material for each job.

My question is, should I account the material costs i incur  as 'COS (cost if sales) or should this be categorised below the net profit line? (as an expense)

I'm hoping to find some answers from other business users who have a similar business structure

 

Thank you

 

 

 

 

 

 

1 reply

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PaulGs
November 30, 2021

I would include these as cost of sales, this would include any materials bought in for jobs. I've no idea why Quickbooks thought anyone would need a purchase account listed in expenses, I always try to delete this when I see it.

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