Cost of Goods Input Accounts Payable Output

QuickBooks Discussion board - Discussions about the popular financial software by Intuit 

Yahoo!   Google   Windows Live   del.icio.us   digg   Netscape

Subject Author Date Cost of Goods Input Accounts Payable Output Jerry 07-18-2007  Re: Cost of Goods Input Accounts Payable Output RebelGraffiti 07-18-2007  Re: Cost of Goods Input Accounts Payable Output Jerry 07-21-2007  Re: Cost of Goods Input Accounts Payable Output oscar_01 07-22-2007
Posted by Jerry on July 18, 2007, 5:25 pm Please log in for more thread options Hi All - I'm adding bills as Cost of Goods account type, but after paymnet the are Accounts Payable. Accounts Payable lumps all bills together. I need to separate reports by Cost of Goods from other bills such as utilties or advertising. Any reason why I enter a bill in the "Enter Bills" window with account type "Cost Of Goods" that it would enter into the check book as "Accounts Payable" account? Please offer suggestions. Thanks Jerry Posted by RebelGraffiti on July 18, 2007, 7:00 pm Please log in for more thread options Jerry wrote: > Hi All - > > I'm adding bills as Cost of Goods account type, but after paymnet the > are Accounts Payable. Accounts Payable lumps all bills together. > > I need to separate reports by Cost of Goods from other bills such as > utilties or advertising. > > Any reason why I enter a bill in the "Enter Bills" window with account > type "Cost Of Goods" that it would enter into the check book as > "Accounts Payable" account? When you enter a bill you are telling QB that you owe money for something (in your case you've specified that something=cost of goods sold) so it goes into accounts payable. When you pay the bill it will leave accounts payable and hit the bank, cash or credit card account you took the funds from. -- Tara Posted by Jerry on July 21, 2007, 12:19 am Please log in for more thread options > Jerry wrote: > > Hi All - > > > I'm adding bills as Cost of Goods account type, but after paymnet the > > are Accounts Payable. Accounts Payable lumps all bills together. > > > I need to separate reports by Cost of Goods from other bills such as > > utilties or advertising. > > > Any reason why I enter a bill in the "Enter Bills" window with account > > type "Cost Of Goods" that it would enter into the check book as > > "Accounts Payable" account? > > When you enter a bill you are telling QB that you owe money for > something (in your case you've specified that something=cost of goods > sold) so it goes into accounts payable. > > When you pay the bill it will leave accounts payable and hit the bank, > cash or credit card account you took the funds from. > > -- > Tara I don't recall this happening in older versions of QB. How can I generate a report that shows me the COG that I orignially enters as COS. I don't and can't use a report that lumps all bills as "Accounts Payable". I need reports by COG, Utlities and other expenses. I tried modfiying the report but QB somehow takes my orignial accunt type of COG and converts it to Accounts Payable I can't see how to generate the COG report, as an example. Posted by oscar_01 on July 22, 2007, 11:12 pm Please log in for more thread options Why are entering purchases into what is essentially a Contra Account? Goods purchased should be separated and posted in their own account not into a GL account called Cost of Goods Purchased or something similar. Cost of Goods Sold is used when you sell Inventory. Normally when you purchase something, say Utilities, you debit that expense account & credit Accounts Payable. That is how you would track all similar purchases in the past & future. For what you have done to date, try a detailed report on the account. > Hi All - > > I'm adding bills as Cost of Goods account type, but after paymnet the > are Accounts Payable. Accounts Payable lumps all bills together. > > I need to separate reports by Cost of Goods from other bills such as > utilties or advertising. > > Any reason why I enter a bill in the "Enter Bills" window with account > type "Cost Of Goods" that it would enter into the check book as > "Accounts Payable" account? > > Please offer suggestions. > > Thanks > Jerry Similar Threads Posted Cost of Goods Sold question April 13, 2008, 5:48 pm Cost of Goods Sold not posting after a certain date? August 29, 2006, 12:59 am Cost of Goods Sold vs. Sales account for discounts October 16, 2007, 2:19 pm Why POs Not On Accounts Payable Detail? June 14, 2006, 2:19 am Multiple G/L Accounts For Sales Tax Payable August 22, 2006, 12:50 pm Report of Accounts Payable by expense? February 5, 2008, 3:15 pm Accounts Payable Register Ending Balance February 7, 2007, 10:51 am Accounts Payable Register Ending Balance February 7, 2007, 10:52 am Editing Billing Charges To Customers Through Accounts Payable March 26, 2008, 10:02 am Cost accounting - current standard cost verses average standard cost August 6, 2009, 5:34 pm