Thus, we can extend this concern to our product development team by sending feedback directly to them. I understand how this feature can be beneficial for you and your business by enabling you to provide the right amount of commissions for your salesperson. You’ll also want to check out this article to learn about how QuickBooks handles inventory assets, average cost, and Cost of Goods Sold (COGS): Understand inventory assets and cost of goods sold tracking.
#Quickbooks timekeeping professional#
In addition, you can ask for some guidance from your professional advisor to ensure you are taking the correct approach to managing your inventory. Moreover, I recommend keeping using your workaround by creating an Excel file and manually entering the details and amounts according to your calculation. Thus, QBDT is designed to sum up the cost of all of the items in inventory divided by the number of items. The application uses this method to determine the value of your inventory and the amount debited to COGS when you sell it.
I have resorted to doing things 2 different ways, either I create an excel spreadsheet and manipulate the numbers to get it correct or I create an new inv item number each time we sell the same machine to avoid this happening.Ĭurrently, there isn’t a way we can turn off the weighted average cost method in QuickBooks Desktop (QBDT). In December it show a cost of $85,000 which is high for that sales and we underpay our sales guys. In August the report shows that the machine cost us $87,500 so now we overpay commission
When running commission reports in s fine In December they run a special to get rid of Machine XYZ and offer them for $80K In August they have a price Increase and now when we buy Machine XYZ it cost $100K My problem is the "cost" is never the actual true cost. I can't possibly be the only one to run into this problem.We sell CNC machines and pay our sales guys commission, we always run an est vs actuals reports and use those numbers to calculate our Gross Profit etc etc then finally coming up with their commission amount.
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