Accounting & Bookkeeping & Small Business Forum

[Guest]

Can someone tell me how to track Cost of Goods Sold using specific Identification in Quickbooks. In the course the had a code placed on the invoice that would tell the amount of the product. I can't figure out how to set this up in quickbooks.

[Guest]

just another reason NOT to use quickbooks. They make the simplest task difficult to perform. Then
nickel and dime you to death with their overpriced product and service.

[Guest]

Steve,

First you have to set up "items". These are the inventory items you wish to track. Once you have the items set up you can then use them to invoice your customers, and to track your purchases. You can also set up customers as "jobs" and assign #'s to each "job/customer". when you receive cost of goods invoices you can code them with the job# and it will track the sales vs costs = profits by each job.

QB help menus are really helpful..tho hard to understand until you have an overview of what the big picture is. Items are tricky..but easy once you "get it". the big thing is to understand that items can be anything that you want to run a report on. For example they can be all your physical inventory...inceasing the total each time you enter vendor invoices...and decreasing the total each time you sell to a customer.

Email me if you want more info..or if i can help

JimmieScott@nwbookkeeping.com