While creating the inventory item, leave the "initial quantity on hand" at 0. You will need to create an inventory item for the vehicle now if you have not already, you can do this on the fly within the expense/check. You can make/use a fake vendor called WIP2Finished Inventory or whatever you would like. Do this through a dummy expense or check in which you will "purchase" the vehicle into an inventory item. When you are ready to sell the inventory & not add expenses to the vehicle's inventory cost, move the entire cost amount of the vehicle from the WIP inventory account to an inventory item. Post every expense for the vehicle purchase price, reconditioning costs, landing costs, auction fees, etc., anything to do with the vehicle (gas is its own separate account) to that account. This will be a Work In Progress (WIP) Inventory Account. The best way I have found to do this is create a "Other Current Assets", detail type "Inventory" Account for each vehicle. I understand that I am not an expert when it comes to QuickBooks Online. If you know a better way however, I would love to learn more. ![]() Maybe simply tracking the re-conditioning costs in a general "re-conditioning expense" account and not tracking them in COGS would be a simpler solution, but it wouldn't allow us to truly understand how much we are really making on the sale of a vehicle. That seems to be a similarly needlessly complex way of handling inventory. I have seen another way where when I add an expense to the inventory item, I could remove the item from inventory for its current cost valuation, and it back with the original valuation + additional cost added to that item as the inventory cost. ![]() Ideally, re-conditioning expenses would have their own Expense & COGS sub-accounts for data tracking purposes but I haven't found another way to convert all the expenses for a vehicle to COGS in a single sale transaction & have them linked to a single inventory item in any better way. ![]() However, I would like to track the total cost of the vehicle, including re-conditioning expenses, into the item's expenses & COGS. I do understand that I *can* purchase vehicles into itemized inventory that way.
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