Has your QuickBooks software recorded an incorrect cost of goods sold. Well, incorrect cost of goods sold in QuickBooks can be extremely confusing. You might find incorrect cogs in QuickBooks when making some sort of adjustment in profit or loss reports. While this error can be a bit confusing and time consuming, it is definitely curable. We have curated this blog with an intent to share the steps that can be followed to correct the cost of goods sold in QuickBooks. To understand better, make sure to read this segment.
What causes incorrect COGS in QuickBooks?
- One of the core reasons why you end up in incorrect COGS can be if the cost of items being received is noted incorrectly.
- Another possible cause can be in case the user purchases large quantities and sells product in a single quantity.
- Or if the cost of goods sold account employed by QuickBooks point of sale is incorrect.
- Moreover, if the user mistakenly removed some transactions, then it can land into QuickBooks incorrect cogs.
Steps to correct COGS in QuickBooks
You can definitely try fixing the COGS issue in QuickBooks by looking for any deleted transactions.
- To begin with, you need to head to the sales history in QuickBooks POS.
- Once done with that, click on the I wish option.
- Followed by, heading to the financial details to display option.
- And then, if the financial information is sent to QuickBooks, then you will see the status.
- And if there is no option to access the file in QuickBooks, then the entry has been erased.
- Now, you need to resend the document available under the next financial exchange tab.
- After which, you need to deselect the sent checkbox in case any receipts show a not sent status.
- Now, you need to click on ok tab and also conclude the process.
Conclusion
By the end of this piece of writing, we expect you to be able to fix the cost of goods sold in QuickBooks. If you still aren’t able to correct cost of goods sold in QuickBooks, then reaching out to our technical support team at +1866-453-7060 is the only option left for you.
