My husband is a plumber. On his invoices he simply states a figure say, £50.00 for the job and this is to include any materials he has used. I obviously need to reduce the materials (stock) account otherwise it will simply increase and increase. I have played around with one of his invoices for £50.00 and said £40.00 for labour and £10.00 for materials used. This worked, but it is not a true picture. Should I simply just manually alter the stock figure at the end of the year somehow and create a closing stock account or should I find away to invoice the customers as I go. Bearing in mind there are a hell of a lot of invoice to trail through and make up figures for!?? HELP???!!
Hi Gail,
The standard way to keep track of your stock in Solar Accounts is to allocate purchases of stock to 'Cost of Goods Sold', then record an adjustment once a month to account for changes in your stock level. See here for details:
http://www.solaraccounts.co.uk/help/how-to-track-changes-in-stock-level.php
Please let me know if you need more information.
Regards,
