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Where do I put in cost of goods sold

1 Reply
Intuit Alumni

Where do I put in cost of goods sold

To enter inventory/cost of goods sold for your business, please follow these steps:

  1. Click on the Business tab > Continue > I'll choose what to work on
  2. On the Let’s gather your business info screen, in the Business Income and Expenses section, click the Start/Update button.  [See Screenshot #1, attached.]
  3. If you have already started adding information about your business, you will see the Here's the business info we have so far screen.  Click on the Edit box next to the business.  [Screenshot #2]
  4. If you haven't already started adding business information, continue through the screens to enter the needed information.
  5. You will now be on the Your [XX] Business screen.  In the Inventory/Cost of Goods Sold section, click the Start/Update box.  [Screenshot #3]
  6. On the next screen, Do You Have Inventory to Report? mark the button next to Yes, I have inventory to report and click Continue.
  7. Continue through the screens, entering the requested information.
  8. When you are finished entering inventory, you will be brought back to the Your [XX] Business screen.   From here you can enter other business items (income, expenses, assets,  etc.).

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