Import cost of goods sold (COGS) 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 Omni creates this as a manual journal entry in QuickBooks Online. The manual journal will decrease the nominated Cin7 Omni Asset ledger and increase the nominated Expense Ledger.
COGS manual journals can be imported to QuickBooks Enterprise via the QuickBooks Enterprise Module in Cin7 Omni.
Prepare 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.
Import COGS
From the left navigation, select Accounting, and then QuickBooks Enterprise
Click Import COGS to import all COGS journals, or click Choose to view the monthly COGS values awaiting to be imported
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 Omni will test for any changes to the COGS and update the COGS value awaiting to be imported to QuickBooks Enterprise. 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.