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jennietmiller
Returning Member

S corp CGS question

My s corporation is a trading card game online store. Throughout the year we purchase collections and cases of cards that we post online to sell individually. It is impossible to keep an inventory for singles.

 

I believe that I need to categorize the purchases as a purchase expense instead of inventory.  If I do this where do I put the shipping and any fees (think Etsy fees) that reduce every sale? These would normally be part of CGS.

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1 Reply

S corp CGS question

You could list them under All other expenses in the program (see screenshot).

 

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