Stock or assets?

Hi Glen
I have set up a new company selling house blinds but not sure what to do when it comes to tagging purchases from my supplier at the moment im tagging them as stock but that is just building up as i dont really understand how to connect the stock with my customers as the amount on invoice could be for say 4 orders any help would be gratefully appreciated. ive used your software virtually from day 1 but that was a computer company and the stock was controlled
Kind regards Mark Underhill

Hi @Mark_Underhill

I’m not quite @Glenn, but I’ll certainly try and help you :wink:

Generally, any purchase of stock from a supplier can be tagged to ‘General Purchases’, which puts the cost into ‘Cost of Sales’ on the profit and loss.

The stock nominals are more for the balance sheet (stock, opening stock, closing stock) etc.

There’s quite a few topics on the forums about recording stock, so I’d recommend taking a look at some of these. I’ve picked out a few which will hopefully help:

If you have any further queries, please feel free to ask :slight_smile:

Disclaimer: I’m not an accountant