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Importing Cost of Goods Sold to QuickBooks Enterprise

Last updated 08/01/2021

How to import Cost of Goods Sold into QuickBooks Enterprise.

Overview


Each Sales Order has a corresponding Cost of Goods Sold (COGS) expense which is associated with the stock being sold in that order. Cin7 creates this as a manual journal entry in QuickBooks Online. The manual journal will decrease the nominated Cin7 Asset ledger and increase the nominated Expense Ledger.

COGS manual journals can be imported to QuickBooks Enterprise (QBE) via the QuickBooks Enterprise Module in Cin7.

Preparing a COGS Journal for Import


Before a COGS journal can be imported into QuickBooks Enterprise the following conditions must be met:

  • An Invoice Date is assigned.
  • A Fully Dispatched/Received Date is assigned.
  • The corresponding transaction has been imported to QuickBooks Enterprise or set to "Do Not Import".
  • The value of the COGS is not zero.

Importing COGS


To import COGS:

  1. From the left navigation, select Accounting, and then QuickBooks Enterprise
  2. Click Import COGS to import all COGS journals, or click Preview to view the monthly COGS values awaiting to be imported
  3. A confirmation will notify you of a successful import

The COGS journal will now be viewable in QuickBooks Enterprise.

Delayed COGS Adjustments for Additional Costs


Four weeks after a COGS journal has been imported to your accounting system, Cin7 will test for any changes to the COGS and update the COGS value awaiting to be imported to QBE. This is useful for cases such as added freight costs incurred after dispatching a product.

For more information on adding costs after a sale, please see Applying Import Costs to a Purchase Order.