QuickBooks Question – Inventory for Contractors

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  • 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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