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Cost of Goods Sold – QuickBooks Online

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Revel and QuickBooks online cannot integrate inventory directly as inventory is calculated differently in each system (one using average costing and the other using First in First Out or FIFO), therefor the inventory costs will not correlate directly between Revel and QBO.

The numbers seen in Revel and in QBO for Cost of Goods Sold (COGS), will also be slightly different as Waste, Receive and other inventory actions are not included in Revels Profit and Loss report but are accounted for in QBO COGS account. 

For Costs of Goods to push from Revel to QBO, customers must have inventory costs already setup in Revel. Please see this guide to setting up costs in Revel;

https://support.revelsystems.com/hc/en-us/articles/204494579-Part-3-Inventory-Inventory-Tab

This guide will provide the understanding of how information is pushed from Revel to QBO however, after reviewing this, customers may choose to use the Revel or the QBO report as the master.

To cross reference each account to understand these different calculations, please see this Workflow;

Login to QBO > Reports > Profit and Loss. Please select the date range for this report and click Run Report.

Click on Cost of Goods Sold.

Then select the Journal Entry.

Next, login to Revel System and select Reports > product mix > Show open, unpaid, irregular. Also select the same date range as earlier.

As seen in these two reports, the numbers are slightly different. Revel's Product Mix report is using the product cost and QBO's COGS report is using the inventory/dynamic cost. 

In Revel, go to Products > see the Cost of these products. This is the number used for the product mix report in Revel.

Then, again in Revel, go to Inventory > Find the product in question > Cost. This is the number that is sent to QBO for the COGS report.

You can also find this Inventory Cost in Products > Product Details > Dynamic Cost.


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