QuickBooks Training Post:

Some examples listed here for Cost of Goods Sold and Expense Accounts. You can also download spreadsheet here

Cost of Goods Sold Accounts:

  • Blueprints and Reproduction: Blueprints, photostats, and other printing expense
  • Bond Expense: Construction bonds expenses directly related to jobs
  • Construction Materials Costs: Construction materials costs
  • Contracted Services: Direct labor costs for contract (non-employees) performing services for clients
  • Equipment Rental for Jobs: Rent paid for rented equipment used on jobs
  • Freight and Shipping Costs: Freight-in and shipping costs for delivery to customers
  • Freight Costs: Costs of freight and delivery for merchandise purchased
  • Job Materials Purchased: Construction materials used on jobs
  • Linens and Lodging Supplies: Costs of linens and other supplies for guest rooms
  • Materials Costs: Cost of materials used on jobs
  • Media Purchased for Clients: Print, TV, radio, and other media purchased for clients
  • Merchant Account Fees: Credit card merchant account discount fees, transaction fees, and related costs
  • Other Construction Costs: Other costs directly related to jobs such as waste disposal, onsite storage rental, etc.
  • Other Job Related Costs: Other costs directly related to jobs such as waste disposal, onsite storage rental, etc.
  • Parts Purchases: Purchases of parts for use on customer repairs or resale
  • Purchases – Hardware for Resale: Purchases of hardware items for resale that are not tracked or counted in inventory
  • Purchases – Resale Items: Purchases of items for resale that are not tracked or counted in inventory
  • Purchases – Software for Resale: Purchases of software items for resale that are not tracked or counted in inventory
  • Subcontracted Services: Subcontracted services for customer service orders
  • Subcontractors Expense: Subcontracted services performed by other contractors
  • Tools and Small Equipment: Purchases of tools or small equipment used on jobs
  • Worker’s Compensation Insurance: Worker’s compensation insurance premiums

Expense Accounts:

  • Advertising and Promotion: Advertising, marketing, graphic design, and other promotional expenses
  • Auto and Truck Expenses: Fuel, oil, repairs, and other maintenance for business autos and trucks
  • Automobile Expense: Fuel, oil, repairs, and other automobile maintenance for business autos
  • Bank Service Charges: Bank account service fees, bad check charges and other bank fees
  • Business Licenses and Permits: Business licenses, permits, and other business-related fees
  • Car and Truck Expenses: Fuel, oil, repairs, and other car and truck maintenance
  • Chemicals Purchased: Costs of chemicals used in farming operations
  • Computer and Internet Expenses: Computer supplies, off-the-shelf software, online fees, and other computer or internet related expenses
  • Continuing Education: Seminars, educational expenses and employee development, not including travel
  • Depreciation Expense: Depreciation on equipment, buildings and improvements
  • Dues and Subscriptions: Subscriptions and membership dues for civic, service, professional, trade organizations
  • Equipment Rental: Rent paid for rented equipment used for business
  • Fertilizers and Lime: Fertilizers and lime purchased for farm operations.
  • Freight and Trucking: Amounts paid for freight or trucking of farm products.
  • Gasoline, Fuel and Oil: Gasoline, fuel or oil used for farm machinery
  • Insurance Expense: Insurance expenses
  • Insurance Expense: General Liability Insurance: General liability insurance premiums
  • Insurance Expense: Life and Disability Insurance: Employee life and disability insurance premiums
  • Insurance Expense: Professional Liability: Professional liability (errors and omissions) insurance
  • Insurance Expense: Workers Compensation: Worker’s compensation insurance premiums
  • Interest Expense: Interest payments on business loans, credit card balances, or other business debt
  • Janitorial Expense: Janitorial expenses and cleaning supplies
  • Landscaping and Groundskeeping: Landscape maintenance, gardening, and pool maintenance costs
  • Marketing Expense: Advertising, marketing, graphic design, and other promotional expenses for our company
  • Meals and Entertainment: Business meals and entertainment expenses, including travel-related meals (may have limited deductibility)
  • Office Supplies: Office supplies expense
  • Payroll Expenses: Payroll expenses
  • Postage and Delivery: Postage, courier, and pickup and delivery services
  • Printing and Reproduction: Printing, copies, and other reproduction expenses
  • Professional Fees: Payments to attorneys and other professionals for services rendered
  • Rent Expense: Rent paid for company offices or other structures used in the business
  • Repairs and Maintenance: Incidental repairs and maintenance of business assets that do not add to the value or appreciably prolong its life
  • Research Services: Research costs including legal library and subscriptions for research services
  • Salon Supplies, Linens, Laundry: Costs of supplies used in the course of business (includes linens and laundry services)
  • Seeds and Plants Purchased: Seeds and plants purchased for producing farm income.
  • Shop Expense: Miscellaneous shop supplies and related shop expenses (rags, hand cleaning supplies, etc.)
  • Small Tools and Equipment: Purchases of small tools or equipment not classified as fixed assets
  • Storage and Warehousing: Amounts paid to store farm commodities.
  • Taxes – Property: Taxes paid on property owned by the business, franchise taxes, excise taxes, etc.
  • Telephone Expense: Telephone and long distance charges, faxing, and other fees Not equipment purchases
  • Travel Expense: Business-related travel expenses including airline tickets, taxi fares, hotel and other travel expenses
  • Uniforms: Uniforms for employees and contractors
  • Utilities: Water, electricity, garbage, and other basic utilities expenses



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Source: Hector\’s QuickBooks Blog

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