You can setup or edit your existing COGS accounts in CoreBridge to help you track expenses from activities in CoreBridge. The Cost of Goods accounts should match those COGS Accounts currently found in your accounting software such as QuickBooks or Xero.

NOTE:  Before you begin, have all of your cost of goods sold accounts along with their related account numbers or GL codes on hand. Also, if you're part of a franchise, you may only be able to add sub-accounts due to your franchise's requirements.

Each account must have a unique name. Even if your accounting application allows an account name to be used more than once it can no longer be the same for your CoreBridge sync. Duplicate account names must be changed in your accounting application so the names can be unique in CoreBridge.

Adding COGS Accounts

  1. Navigate to Management Module > Global Settings > Accounting Settings > COGS
  2. To set up an income account, enter the GL Code or Account number.
  3. Enter the Expense Account Name found in your accounting software that matches the GL Code you just entered.
  4. If the cost of goods account is a sub-account, enter the parent account.
  5. Click Add Account.

Editing COGS Accounts

  1.  Once you’ve added accounts, you can update them by clicking Edit.
  2. You can activate or deactivate an account by clicking on the Status button.