I have a small business using the Cash basis of accounting. I do not keep track of my inventory, rather just buy it in bulk and use for many jobs until I need to purchase more. How would I enter what shows up as "cost of goods" in my P&L? I would put it in Other Common Business Expenses> Supplies, but the purchases can equal thousands of material to make my final product (rain gutters). The Inventory/Cost of Goods Sold category says to use it only if you keep track of inventory.
Windows TT Home & Biz
