To have a better insight of the cost of product groups in your financial book, you might need to separate the Cost of Goods Sold ledger into multiple ledgers. To support having multiple Cost of Goods Sold ledger, QuickBooks Commerce now allows you to assign a ledger account to your variant and then our Xero/Quickbooks integration will send the Cost of Goods Sold journal to your accounting platform based on the assigned ledger.
How to assign a Default Cost of Goods Account ledger by variant
1. Go to Inventory > Variants.
2. Select the Variant you wish to assign a Default Cost of Goods Account to.
3. In the Details tab, scroll down to Default Cost of Goods Account and choose the desired Cost of Goods ledger then click Save Changes.
Updating Default Cost of Goods Sold Account by bulk
Alternatively, you can do this in bulk - Update Existing Products via CSV.
1. Go to Inventory > Products > Bulk Manage > Update Existing Products > choose “No I need to download a list of my products.”
2. Choose Default Cost of Goods Ledger then click Build Product Sheet.
3. Download the Product Sheet > edit the CSV file and input the Cost of Goods Ledger account (e.g. Retail Cost of Goods).
4. Once you have edited in the required data in the downloaded CSV file, you'll need to upload the product sheet.
Great work! You have now completed assigning your variants to their default Cost of Goods Sold account.