Product Costing GL Accounts Mapping



NOTE: It is important to note that any time that you make changes to your GL Account Mapping you need to open and then close any closed invoices that use that mapping for it to change.  Once you have done that you can then successfully run the batch in QuickBooks to show the new account. More on this here.

Product Costing GL Accounts by Account Name

In order for products to be automatically created in QuickBooks Online when batching Item Receipts or Invoices that have products, you will need to also fill in the “Inventory” and/or “COGS (Cost of Goods Sold)” accounts, depending on the product “Type Xref” (see Product Item Type). 

For example, a product with the “Type Xref” of “Inventory” will require both the Inventory and COGS accounts to be populated in the GL Account Setup, as shown below. However, a product with the “Type Xref” of “Service” will only require the COGS account to be populated in the GL Account Setup. This is filled out on the “Revenue-Product” or “Revenue-Agreement-Product” account types.  Note:  All Inventory Products must have COGS account.

Product Costing GL Accounts by Account Number

In order for products to be automatically created in QuickBooks Online when batching Item Receipts or Invoices that have products, you will need to also fill in the “Inventory” and/or “COGS (Cost of Goods Sold)” accounts, depending on the product “Type Xref” (see Product Item Type). 

For example, a product with the “Type Xref” of “Inventory” will require both the Inventory and COGS accounts to be populated in the GL Account Setup, as shown below. However, a product with the “Type Xref” of “Service” will only require the COGS account to be populated in the GL Account Setup. This is filled out on the “Revenue-Product” or “Revenue-Agreement-Product” account types.  Note:  All Inventory Products must have COGS account.


How does this look like on the Product? 

When looking at the product you will see two accounts linked to it. The "Income Account" and the "Expense Account". Your "COGS" account will be your "Expense Account" on your product. If you are using Account Numbers, you will see the Account Number in front of the Account name on your selection. 


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