I am going round in circle with this so thought I would ask for some ideas:
A client runs stock module on Sage 50C. About 12 times a month workshop staff use some of the shop stock for workshop/cleaning use.
They have been using the adjustments out module just to alter the stock which needs to change.
Any ideas on how I reduce the stock items used and at the same time charge the company the cost price of the stock under workshop consumables so it appears in the P&L as an expense.
I am going round in circle with this so thought I would ask for some ideas:
A client runs stock module on Sage 50C. About 12 times a month workshop staff use some of the shop stock for workshop/cleaning use.
They have been using the adjustments out module just to alter the stock which needs to change.
Any ideas on how I reduce the stock items used and at the same time charge the company the cost price of the stock under workshop consumables so it appears in the P&L as an expense.
Thanks
Jenny.
Why would you 'charge the company' when the company has quite clearly already been expensed for this when they bought them?!!!!
When stock arrives in it is booked in as goods for resale under nominal code '5000' and obviously the stock cost value becomes part of the stock value figure on the balance sheet. You do have to make an adjustment to your accounts if you are going to use some of the stock for business use and not for resale, this is to ensure that the stock expense goes back into '5000' and goes out of say '6000' workshop supplies or overheads for cleaning products etc. The process has to ensure the stock figure is altered to reflect the number now in stock, any ideas anyone?
I have realised I have completely over thought this process. My P&L is analysed with '5000' purchases (for resale in shop) and then '6901' workshop supplies, cleaning products '7801' charged to overheads etc. When staff take stock from the shelf that was intended for resale I wanted to shift the expense from '5000' to say maybe rags used for the workshop '6901', it also had to show that the stock was being reduced. The solution suddenly clicked this evening:
Use adjustments out to take out the stock used in the workshop or cleaning products used for the office then at month end I run a product analysis report, add up the cost price of all stock used by staff and then post a journal as follows:
credit '5000' net cost price of total amount used.
debit '6901' net cost price of rags
debit '7801' net cost price of cleaning products
Hope that makes sense, hopefully that's right, sorry to confuse!
Hi, new here and a bit late to the party, but that's exactly what I was thinking... the key is it comes off the balance sheet and into the P&L, and not sure how automated Sage is, as it might automatically dump all stock write offs to cost of sales... but a journal entry can reclassify it..
