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A reader asked the following question: We are a small contractor in San Diego and we are wondering how we get around having to always do an inventory adjustment to get our purchases to the correct COGS account? We have (2) departments but they are both doing construction projects: Service dept does smaller installs and Contracts [Read the full article...] I tell my clients that Cost of Goods Sold (COGS) is any cost incurred that directly relates to getting the sold goods out the door. I have them ask the question “Would you have this expense if you hadn’t made the sale?” [Read the full article...] The QuickBooks Chart of Accounts is the framework used to categorize the information and transactions used to create reports. By using a chart of accounts and creating reports, you will always know the current state of your [Read the full article...] |
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