Reasons Purchase Invoices Don’t Appear in Cost of Goods Sold and How to Verify Them

Explanation of potential reasons for purchase invoices not appearing in the Cost of Goods Sold account and the necessary steps to verify this.

Answer:

If purchase invoices do not appear in the Cost of Goods Sold account, please follow these steps to verify:

1. Verify product status:

   • If the product status is “Inventory”, the invoice amount will be recorded in the Inventory account upon purchase and transferred to the Cost of Goods Sold account upon sale.
   • You can verify the product status by going to the Products and Costs list and checking the product status (Inventory or otherwise).

2. Product status is not inventory:

   • If the product status is not Inventory, check the expense account associated with the product:
     • Click View next to the product.
     • Confirm the account setup associated with the product.

3. Verify the dates:

   • Ensure the invoice date falls within the date range of the Cost of Goods Sold account report.