I have been using Soapmaker 3, and as many may know they added a COGS equation.
My question is about the Holdiay gifts I just used for my friends. I created an invoice for purchaser "Personal Use" I added the items I used to the invoice. My question is in the cost, should I put Zero, or the actual cost of each item? I was thinking if say a soap costs me $2.00 to make and I put $2.00 in cost, profit would be zero, but it will add $2.00 to my income? If I add zero it won't add to my income, but what would it do?? Help, Tax challenged....
My question is about the Holdiay gifts I just used for my friends. I created an invoice for purchaser "Personal Use" I added the items I used to the invoice. My question is in the cost, should I put Zero, or the actual cost of each item? I was thinking if say a soap costs me $2.00 to make and I put $2.00 in cost, profit would be zero, but it will add $2.00 to my income? If I add zero it won't add to my income, but what would it do?? Help, Tax challenged....