[My Handmade Biz] When does Inventory & COGS hit my bookkeeping? Sometimes it can be 2 or 3 years before you sell an item and get to recognize the COGS. This is why keeping detailed records is important.

My Handmade Biz-When does Inventory & COGS hit my bookkeeping?

I bet you’re wondering, WHEN does Inventory & COGS (Cost of Goods Sold) hit my bookkeeping?  More specifically when do project costs appear on your Profit & Loss Report under Cost of Goods Sold (if you want to go all accounting speak) and then what about my tax return? If you’ve been following along this …