Forum Message

type of sales

hi mark, sorry i should of explained a little more.....My friend wants to sell a three peice suit..i sell it for him in MY shop, he wants £300, i make £99 out of the sale but i have a receit for £399?


Posted by Peter Knox on Jan 5, 2010 5:27 PM GMT

Hi Peter,

I see what you mean now. In that case, record two separate transactions:
1) A Money Received transaction for £399 deposited into 'Money To Be Banked'
2) A Money Paid Out transaction for £300 paid from 'Money To Be Banked' and allocated to 'Cost of Goods Sold'

Regards,


Posted by Mark McLaren (Solar Accounts) on Jan 5, 2010 6:47 PM GMT