How to convert 'stock' to 'general purchases'?

Hi, I understand that any stock for resale should come under general purchases - is this correct?

I have been putting bar stock under ‘stock’ and now it’s showing as an assest even though we re-sell it all.

So, how can I convert all these purchases to the right category - or do I need to do it all manually?

Thanks for your time


Any thing you buy to resell should go into purchases, any left over at year end should be accounted for stock.
You can do journal to move bulk figure from stock a/c to purchases

Dr Purchases
Cr Stock

This topic was automatically closed after 7 days. New replies are no longer allowed.