Hi, had been trying out Solar Accounts. Not sure which account type should the free of charge to be created.

How can I create a tracation where by I need to give an item as Free of charge? Where by the acutual item had a value.

Hi Heng,

Just enter the Price as £0.00 and the Account to 'Sales Income'.

regards,

Dear Mark,

Thank you for the reply on the matter. Since the item sold as Free of Charge and the account type is "Sale Income" how do I go about to belance this in my account as the actual item cost is 25.00?

Thank you

Regards

Chong Loong

Hi Chong Loong,

The cost of the item is recorded separately when you purchase the goods. Allocate the purchase to the 'Cost of Goods Sold' account. If you have significan inventory at the end each month then record an adjustment as described here:
http://www.solaraccounts.co.uk/help/how-to-track-changes-in-stock-level.php

Regards,