Hi! I make and sell jewellery and was wondering what the correct category is under which to record the raw materials I use to assemble my finished pieces? Many thanks for your help!
Unless you specifically have a reason not to then just use general purchases.
These specific reasons might be that you have a lot of high value materials, or you might want to track each material type and want to stick it under its own nominal. If you are just happy to have an easy life then general purchases will work fine.
Thank you for replying! So it wouldn’t be logged as materials imported then?
I don’t know, do you import materials?
Sometimes, but not always! Why would they have a separate section for materials imported?! Baffled here lol
There are a lot of categories and nominals. You don’t need to use them all! You can remove unused ones to tidy up a bit once you’ve got a handle on things.
As I said above, if you just make lots of small purchases then you can stick it all under general purchases.
Do you want to be able to separate out these costs on your accounts, so you can see specifically costs of raw materials vs other costs? If so create a new nominal code and post to that code, otherwise just post to general purchases.
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