Hello All , some VERY basic Accounting questions, I’d like to know to which nominal accounts I should post the following transactions to
Let’s say I buy 10 T shirts for £10
I then sell 5 T shirts for £20 = £100 revenue
It costs me £4 for post & packing on each T shirt, so £20 postage costs
How do I enter this in QF?
I now have 5 T shirts left as “Stock”
What happens when i sell T shirt no 6, assume same costs as above
Thanks in Advance