How to run a cost of sales (COS) report in new QuickBooks Online?

There is no standard “COS” report you can run in new QuickBooks. But, you can customize standard P&L report and get the same results.

To customize P&L and get COS (referred to Costs of Good Sold in QBO):

From the home page screen

  • Go to the blue navigation bar on the left
  • Select Reports
  • Go to report (magnifying glass) and type Profit and Loss
  • Select “Profit and Loss” from the drop down selection
  • Select “Customize” button
  • Go to “Lists”
  • GO to “Distribution Account” and select “All Cost of Goods Sold Accounts”
  • Select Run Report button

If you need “DETAIL” behind those summary numbers, click amount from the “Total Cost of Goods Sold” line.