Accounting & Bookkeeping & Small Business Forum

[Maybe]

Hi guys,

I'm needing help desperately, i've been scratching my head for the last 20 mins trying to figure this out.


I'm in the process of setting up my company's account information in MYOB - it's for an importing business.

My question is, Where should import duty & customer broker fee be located? I'm not sure whether they should go under Cost of good sold or operating expenses (or an entirely different place? :roll: )

Any clue on this will be much appreciated.

Cheers & ty..

[Ahshucks]

Generally in the world of Cost Accounting, if the expense can be identified as an expense to a job or product, it should be expensed under Cost of Goods Sold.