- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Other questions
"The issue is that QuickBooks isn't really built to handle inventory adjustments to COGS directly, which can be kind of a pain since it sees cogs as an operational expense, not an item-level cost adjustment."
QBD can handle inventory adjustments to COGS just fine. It's not a pain at all. Just select COGS as the adjustment account when making an inventory quantity/value adjustment. This is, in fact, an item-level adjustment. Have you used QB Desktop?
"Here's what you wanna do: make sure your adjustment account's set up right for handling non-operational cost changes. I'd say setting up a special "scrap adjustment" account could be smart. Maybe stick it under "other expenses" or a special "inventory adjustments" category, so your operational costs stay neat and you get a clear idea on scrap losses."
Yikes! Scrap is an operational expense and part of COGS. Recording it as a non-operational expense (other expense) is very wrong.
BTW, why are you posting to a thread that's over 5 years old? This creates unnecessary clutter in the forum, especially when the advice is misleading.