Product Development classified wrong
DMAjic
Member Posts: 14
Product Development is in the expense category, but shows up under Cost of Goods Sold on the income statement. Can this be changed?
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DMAjic
Member Posts: 14
Product Development is in the expense category, but shows up under Cost of Goods Sold on the income statement. Can this be changed?
Comments
HI @DMAjic, thanks for your question!
You can indeed move most accounts into a different category. In this case, try navigating to your Chart of Accounts (look under Accounting in the left-navigation panel). Look for Product Development, click the little pencil on the right, and then change the Account Type to Cost of Goods Sold.
Hope that helps!
There is no place to change the account type under Chart of Accounts.
Hey @DMAjic. When you click on the Chart of Accounts section -- and click the editing pencil icon beside the account, you should be able to switch it to the account type you are looking at. Could you please confirm, if possible with a screenshot, what exactly happens when you try this?
Just got upgraded and now it works.