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I have been searching for an answer and just cannot seem to find an explanation that makes sense to me. For background, I have been using QuickBooks Desktop for Mac 2019. My MacBook Air completely crashed and I lost all my data (I know, I should have had them backed up). I am having to recreate all our data. I was was going to use the Desktop Quickbooks again but have seen some articles about incompatibility with my Mac operating system. I am now trying to recreate everything in Quickbooks Online (QBO). My questions/frustration is with the COGS and how it displays on the P&L reports. With our Desktop version, COGS was displaying correctly: COGS would appear on the P&L when we recorded a sale (income) of an inventory item. Now with QBO, COGS shows the full purchase price as soon as we record the bill payment, even though there are no sales (income) associated. This is a sample of the impact I am seeing on our P&L: IncomeINCOME MONTHLY RENTAL 567.02Total INCOM
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We would like to track payments for each loan (and send statements if possible).
My banking is connected and pulling transactions through ok. However, the payment date in QB is different to the actual transaction date on my banks statements. They can be out by up to 2 days.
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