Comments on: QuickBooks Question – Inventory for Contractors http://blog.sunburstsoftwaresolutions.com/2010/07/06/quickbooks-question-inventory-for-contractors/ by Sunburst Software Solutions, Inc. Tue, 07 Feb 2012 20:06:51 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Sandy Robertson http://blog.sunburstsoftwaresolutions.com/2010/07/06/quickbooks-question-inventory-for-contractors/comment-page-1/#comment-6419 Sandy Robertson Tue, 13 Jul 2010 11:34:08 +0000 http://blog.sunburstsoftwaresolutions.com/?p=758#comment-6419 QB only allows one COGS account per inventory item. If you set your departments up as classes you don't need to have a separate COGS account for Service and Contracts. If you use classes you need to have a class on any tranactions that hits the P&L or you will have a lot of unclassified transactions. I recommend that you also set up a G&A Class and if you allocate any of your G&A expenses to jobs this makes it easier. QB only allows one COGS account per inventory item. If you set your departments up as classes you don’t need to have a separate COGS account for Service and Contracts.

If you use classes you need to have a class on any tranactions that hits the P&L or you will have a lot of unclassified transactions. I recommend that you also set up a G&A Class and if you allocate any of your G&A expenses to jobs this makes it easier.

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