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Tag Archives: COGS
Cost of Goods Sold in QuickBooks
The Cost of Goods Sold account is for costs directly related to producing a service or good for sale. There is a direct relationship between these costs and your revenue. If your company sells a product, your cost of goods … Continue reading
How to Simplify Your Cost of Goods Sold Accounts in QuickBooks
When you are creating your Cost of Goods Sold accounts, consider using summary accounts, such as material, labor, and subcontract, and letting your Item List track more detail. For example, if you are a construction company and you have expenses … Continue reading