I operate a concierge business where I do shopping for clients, take care of cars (get gas, repairs, service), etc. I charge them monthly based on my fee and all the money I spent for them (e.g. in purchasing items, paying for repairs, etc.). Do I count "all the money I spent for them" as "reimbursed expense" or COGS? Thanks
You do not have a COGS since you don't have inventory. You will report all the income from all sources then deduct the expenses under any category that is appropriate or you make up.
Q. Is cost of items delivered "COGS" or "reimbursed expenses"?
A. Reimbursed Expenses.