How would I get Inventory and Cost of Goods Sold on my Income Statement and Balance Sheet reports?

In Quicken can I so beginning inventory, cost of goods sold and ending inventory on my reports?
How do I do that?

Answers

  • NotACPA
    NotACPA SuperUser, Windows Beta Beta
    Quicken H&B doesn't handle inventory.  The best that you can do is record the purchase of the items as expenses, and the sale those items (on an Invoice) as income.
    Q has no means of tracking "current inventory".  You might want to look at Quickbooks for your business needs.
    Q user since DOS version 5
    Now running Quicken Windows Subscription,  Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • volvogirl
    volvogirl SuperUser ✭✭✭✭
    Quicken also does not do depreciation.  
  • NotACPA
    NotACPA SuperUser, Windows Beta Beta
    edited January 19
    volvogirl said:
    Quicken also does not do depreciation.  

    I depreciate several assets, by manually calculating the depreciation amount of the account (not the individual asset) and then inputting a self-referencing transaction into that account.  In particular, my "Personal Assets' (which is Art, furniture, cars, etc) gets "depreciated" each year end.
    It's a guess, but I figure that such is preferable to claiming that my cars/furniture/etc. are still valued at purchase price.  Some of the art MAY have actually increased in value ... but I'm not THAT a*** retentive. And I wouldn't know how to find that info in any event.
    Q user since DOS version 5
    Now running Quicken Windows Subscription,  Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
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