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 ✭✭✭✭✭
    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 February, 1990. DOS Version 4
    Now running Quicken Windows Subscription, Business & Personal
    Retired "Certified Information Systems Auditor" & Bank Audit VP

  • volvogirl
    volvogirl SuperUser ✭✭✭✭✭
    Quicken also does not do depreciation.  

    I'm staying on Quicken 2013 Premier for Windows.

  • NotACPA
    NotACPA SuperUser ✭✭✭✭✭
    edited January 2021
    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 February, 1990. DOS Version 4
    Now running Quicken Windows Subscription, Business & Personal
    Retired "Certified Information Systems Auditor" & Bank Audit VP

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