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COS: Hi, could you tell me if Merchant Fees should come under Cost of Sales or Expenses? I’m thinking Cost of Sales but unsure?

merchant fees are a normal operating expense

the reasoning is that they are optional, the customer could pay in other ways

But if you want to , then use COS

Resolution for 'COS issue: 'Hi, could you tell me if Merchant Fees should come under Cost of Sales or Expenses? I’m thinking Cost of Sales but unsure?' available: Yes.

The COS 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 COS issue yourself by looking for a resolution described in the article. If it is a complex COS issue or you are unable to solve the issue, you may contact us by clicking here or by using other COS support options.

For more information about resolving issues related to COS in Quickbooks/QBO or to get support for the issue 'Hi, could you tell me if Merchant Fees should come under Cost of Sales or Expenses? I’m thinking Cost of Sales but unsure?', click the link below:

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COS: How to do inventory adjustment without affecting COS? How to account for damaged stock received from the supplier that will be replaced later?

How to account for damaged stock received from the supplier that will be replaced later?

Create Vendor Credit form (Create “+” vendors > vendor credit) for damaged goods.

This will reduce your inventory. No need for separate Inv adjustment.

Once you receive the replacement items from the vendor, create Vendor Bill. That will […]

Resolution for 'COS issue: 'How to do inventory adjustment without affecting COS? How to account for damaged stock received from the supplier that will be replaced later?' available: Yes.

For more information about resolving issues related to COS in Quickbooks/QBO or to get support for the issue 'How to do inventory adjustment without affecting COS? How to account for damaged stock received from the supplier that will be replaced later?', click the link below:

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COS: Direct labour as part of COS – not sure how to record it if it is done by me (owner) as not paid for it, but need to recognise it so COS can be calculated. Any ideas?

An owner works for free basically, since all profit it yours. So there is no personal labor cost you can add in to any project or product

That said, Australia might be different, talk to a tax accountant locally (I doubt it though)

Resolution for 'COS issue: 'Direct labour as part of COS – not sure how to record it if it is done by me (owner) as not paid for it, but need to recognise it so COS can be calculated. Any ideas?' available: Yes.

For more information about resolving issues related to COS in Quickbooks/QBO or to get support for the issue 'Direct labour as part of COS – not sure how to record it if it is done by me (owner) as not paid for it, but need to recognise it so COS can be calculated. Any ideas?', click the link below:

Details

COS: Direct labour as part of COS – not sure how to record it if it is done by me (owner) as not paid for it, but need to recognise it so COS can be calculated. Any ideas?

An owner works for free basically, since all profit it yours. So there is no personal labor cost you can add in to any project or product

That said, Australia might be different, talk to a tax accountant locally (I doubt it though)

Details