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Creating a Cost of Goods Sold entry

I was expecting that when I recorded a sale in QBO that when the synch occured, I would end up with a cost of goods sold entry taking the items sold out of inventory.  I don't see that happening.  Can the program do that & if so, what do I need to do to enable it?  My customers sometimes buy a lot of little things each time & it's a pain to have to calculate the cost of goods sold entry manually.
Melissa Hamilton Send private email
Tuesday, December 22, 2009
 
 
Hi Melissa,

If you go to the "Inventory Settings" menu option, look at the first option on that list. Be sure that Automatic Journal Entries are turned on. Then, when you make a transaction, OE Companion will automatically send a journal entry to QuickBooks to update COGS, asset accounts, etc. Hope this helps.

All the best,

Neal
Neal Send private email
Monday, December 28, 2009
 
 

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