Hi Guys
Having read over all the tutorials i am trying to workout the best workflow. I see on eBay & Amazon via Magento. All my orders come into Magento which create Invoices automatically.
As you know payment is always 99.9% instant so when it comes in i ship it and it is completed.
So is anybody using SA with an eBAy business via Magento? If so do you have an issues?
I am a little (a lot) confused on how to record stock in SA as i have physical stock and i dropship!!!!
My sales i would show Money Received into Paypal
No going to create an invoice as weekly i can import Customers & Invoices via csv from Magento into SA
Second Transaction for Paypal Fee (I have an Account)
Also monthly i would record a ebay Fee (I have an Account)
What i cannot fathom out is how i connect up my stock and sales to show my profit, this bit is not connecting yet.
I have set up a Asset caled Inventory / Stock
I have set up an Expense Acct COGS but not sure how it works but i guess these 2 work together!
This is my list of accounts https://dl.dropboxusercontent.com/u/92887/SAList.png.
So an example in my mind is i buy some stock from ACME for £1000 i record this as an Asset under Inventory / Stock.
I am selling this stock sale price for all of it is £1500 in April i sell £1000 in sales (66% of the stock) I record this as Record Invoice Payment or do i leave it because i am importing ?
How do i see my stock against my sales ?
Bit confused on the workflow , i just wanna get it right
Hi Thorrr,
In case you haven't seen it, here is our help topic on keeping track of stock:
http://www.solaraccounts.co.uk/help/how-to-track-changes-in-stock-level.php
So using your example you would record three transactions:
When you buy the stock record a Money Paid Out transaction allocated to 'Inventory / Stock' for £1,000.
When you sell 66% of your stock create an Invoice or Money Received transaction for £1,000 using the Sales Income account.
At the end of the month record a General Transaction from the Inventory/Stock account to the Cost of Goods Sold account for £666.66
To see your overall profit go to the Reports list and select the 'Profit and Loss - Simple' report, then click 'Configure' to set the date range.
Regards,
