To properly calculate your Cost of Goods Sold, you should value your inventory at the beginning and end of the year. Inventory accounting is a complex and expansive topic, but you can track the basics of your starting and ending yearly inventory in Hurdlr Pro.
With Hurdlr Pro, you can account for the starting value of your inventory for the year by adding a manual journal entry. From the web app, click Accounting > Select General Ledger > Click Add Entry. Please consult with your bookkeeper before making any manual journal entries.
Disclaimer: The information contained here is provided for informational purposes only and should not be construed as financial or tax advice. It is not intended to be a substitute for obtaining accounting or other financial advice from an appropriate financial adviser or for the purpose of avoiding U.S. Federal, state or local tax payments and penalties.