To do this task
(Optional) In the Cost field, enter the total cost of this item. More...
(Optional) Cost of Goods Sold is preselected for COGS Account.
If you want to charge the cost of selling this item to a different account, click the COGS Account drop-down arrow and choose the account.
Enter a description in the large Description field below the Cost field.
If the sales price was not already filled in for you, enter a sales price.
If you charge sales tax, click the Tax Code drop-down arrow and choose a tax code for this item.
If you don't charge sales tax, you won't see the Tax Code field.
Click the Income Account drop-down arrow and choose the account where you want income from the sale of this item recorded.