Hi I was wondering if somebody could help. I have purchased stock from supplier and paid for it as one order I now need to show that I have sold some of the stock to one of my clients how do I go about this. The purchase of the stock is in the General Purchases, I would like it show in the projects section so the ability to tag the purchase is essential. Sorry if this has been answered before I am just struggling to grasp it.
Many thanks
Hi @sme
Selling from stock during your trading year is generally done from the General Purchase (5000) nominal code, and the stock codes themselves come into play at year end (there are a few topics on the forums about this - a quick search should bring up a few)
Normally you would just raise a sales invoice as normal, and use one of the sales nominal codes such as General Sales. In your profit and loss report this will then be shown as income, whereas General Purchases will be shown as expenditure.
Any sales or purchase invoice or estimate can be assigned a project tag. However, you can only do it as an invoice as a whole. Although you may this is a bit tricky (given that you probably bought more stock in one purchase invoice than what you sold in one sales invoice), you can use project adjustments.
There’s a detailed guide on the project tags, here, which also includes adjustments.
Please let us know if you need any further help.
Thanks for coming back to me so quickly, so I have gone down the route of making an adjustment so it shows how much we spent for the client from the stock.
My only concern now is that how do I show the credit to the purchase on the original invoice as the adjustment does not make any difference to the general purchases.
I would only be doing a few of these as we generally purchase stock for individual customers and I can then tag directly and place the purchase against Customer purchases.
Do I just need to make a nominal entry for the amount directly to General purchases and if so how?
Stephen