Invoiced COGS - Expense recording
Hi. I have recently started an airbnb hosting/cleaning business. I invoice my clients for the cleaning/hosting service and also any supplies like coffee, tea etc that I buy on their behalf. My questi...
Forum Discussion
Hi Moenlm ,
Yes, after invoicing your clients for the cleaning/hosting service and supplies purchased on their behalf, it's essential to track these supplies as expenses in your MYOB records. Categorize these expenses under "Supplies Expense" or a similar category in your accounting software. Be sure to document receipts for proof and accurate record-keeping. For more detailed guidance on managing expenses in MYOB, I recommend visiting this helpful article.
Cost of goods sold (COGS): What it is and how to calculate it
I hope this helps!
Regards,
Earl
