Costco and Uncategorized Transactions

Costco is a wholesale retailer focused on selling discounted goods through membership warehouses and online. From packaged to fresh food, clothing, electronics, outdoor living furniture, appliances, and more, Costco has it all, falling just short of Amazon and Walmart as a retailer.

While it might be simple to find whatever you need at Costco, especially in bulk, Costco’s massive variety of products creates a headache for accountants and bookkeepers. As Costco sells thousands of different products, you can’t know exactly what your client purchased or why. For example, a client might purchase some computer chargers, cleaning supplies, snacks, and a computer at Costco. There are hundreds of reasons why these items might be necessary or what they’re for. You don't know exactly what your client purchased, why, or for who. And when your client purchases from Costco, the bank feed and receipts often don’t supply the necessary information or details on the items purchased to categorize transactions and close the books. So, it can rapidly turn frustrating and confusing to constantly keep up with hunting down this information through spreadsheets.