Apologies for the possible list of question but assistance is required.
Brief info - individual makes office equipment item, nothing of high value - roughly selling for £30 each.
1. Can small inventory items such as screws be classified/entered as cost of sales rather than stock?
2. How are inventory items/invoices entered into Sage? Is it simply entering the invoice to stock nominal code?
2a. If an invoice is posted this way, is the sales simply posted to the relevant product sales code or inventory code? Asking this i have read people doing one or the other while my thinking is to post to the relevant sale product code.
3. Can inventory items/invoices be posted as cost of sales during the year and at year end, credited by the value of unsold/unfinished goods which is debited to closing stock?
All assistance is greatly appreciated. Even if its your own method of recording inventory for a client.
Thank you
-- Edited by Mickey on Tuesday 22nd of October 2013 03:25:32 PM
-- Edited by Mickey on Tuesday 22nd of October 2013 03:27:29 PM
