QB Issue Resolution:
“so I have several NON-INVENTORY parts called SPECIAL PARTS or SPECIAL FIXTURES, etc.”
Exactly. You can have main item names, or only one, even. That is up to you. I attached an example that is Appliance and one that is Countertops, for examples.
“where I post all these misc items we buy. For obvious reasons, I can’t make this an inventory part, because the cost of these items can vary from less than a dollar to hundreds of dollars, ”
Because you Do Not Stock Them. Because they are never the same One thing. You don’t have an inventory driven business; you Buy as needed = Noninventory Parts.
“we will buy multiples of a particular item, but only use half… Technically, they become inventory because they are now sitting on a shelf”
You get to manage this however you need it. The noninventory items can all post to COGS directly. If you take Periodic Inventory to calculate Cost invested in stuff still on hand, you Adjust COGS to an Other Asset account “periodically.” Such as, at year end, if the $ value of what still is on hand is Significant.
This is called Periodic Inventory = the IRS won’t let you report it as COGS, if it isn’t yet Sold.
“when I go to sell these items, the cost does not get applied to the job, unless I go back to the original bill where I bought the item and put the customer:job in there..”
That would be true. Or, you can show you want some value Removed from the Periodic Inventory account, if you are holding it there.
“This is very tedious… I have tried changing the expense account back and forth between a regular expense account and the COGS account…”
That doesn’t do anything.
“I literally can not create a separate inventory item for these things, because there are just too many different items and different costs…”
That is correct; you Don’t Have Inventory ITEMS = Perpetual. You can do Periodic, though.
“And yes, I do have the box checked to open up double-sided window so I have both a purchase and expense description and a sales and income description… Any ideas??”
Yes; start doing Periodic Inventory. Like this:
You buy a bunch of stuff for a job as Noninventory = COGS.
You need a vendor name for Job Allocation.
You create a Vendor Credit for the vendor name, and list the items Bought originally for a job and not used for that job. This creates a Total AP Credit. Click on the Expenses tab, and post the same amount here, using a Negative, to Other Asset = value still on hand. Hit Re-calc. This Vendor Credit is $0.
Now you have the Cost of stuff still on hand, as generic cost posted Into the Other Asset account.
Later, you pull some fixtures, etc, and use them on a new job. Enter Bill for the Job Allocation Vendor name. List everything as if you are Buying it, for this new job.
Click on the Expenses tab. Post the new Total using a Negative, posting that Other Asset account = pulled value Out of it. Hit Re-Calc. This is a $0 Bill.
This is called “the $0 Bill method for job costing activities.”
“This is becoming an issue because one of the states we work in requires us to charge sales tax on everything except the cost of the materials and the tax we paid when we purchased the materials… If I don’t pick up those costs, we are basically charging sales tax on some of the materials twice… Maybe there is another report I can print than the P&L to get those costs??”
You control sales all along; now, we are controlling Purchase data.
Resolution for Issue 'noninventory parts and cogs tracking' available: Yes (Solved).
Source: Intuit Community forum.
noninventory parts and cogs tracking: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.Support for cogs tracking
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