Stock or assets?

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:

http://community.quickfile.co.uk/t/end-of-year-closing-stock-and-opening-stock/4615
http://community.quickfile.co.uk/t/assets-stock-on-qf/8119/3?u=qfsupport

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

Disclaimer: I’m not an accountant