Quick Books P&L

[hogjowl]

As a result of SFS, I need to change the format of my P&L in QB. I need to separate my costs of goods from the "other" liabilities. As it is set up now, my P&L doesn't make that distinction.

Does anyone know right off hand how to go about designating a difference between the items on the liability category into COG's items?

 

[hogjowl]

I think I found it. I went into the Company section and clicked on chart of accounts, from there I highlighted a particular expense item and say that there was a selection of "costs of goods sold".

I assume that if I change the designation to cog's it will create a cogs section with that particular expense item in it.

Right?

 

[brzelt]

Marty are we talking about separating out the different expenses?

My liabilities do not show up on p&l. Or do you mean on the bottom line balance sheet?

Hoping to learn more myself as well.

 

[Scott]

I think he's asking about separating COGS from fixed expenses.

Since I think he talked himself into the correct answer there's no need for me to reply.

Scott

 

[hogjowl]

Yeah, I found it. I spent an hour or so this afternoon reformulating it and now I think I'm good to go. Surprisingly, my numbers are within the 40% that Chuck recommends.

I bet, when I back into the figure tomorrow, I won't have to go up on my prices more that 5 cents a sf.