i am a farmer and i have sheep. Normally i sell the sheep as meat and do not have a problem accounting this. last tax year I sold some sheep for breeding purposes for the first time. I understand that my opening and closing inventories will show this. As for income received, how do I account for them. Is it a sale of assets or general sales. I currently use meat sales as a category for lamb and mutton sold. Can anyone help, thanks, Tracy
Inventory items are not assets like equipment etc, you can create another sales category if you like to keep track of how much sale are making for different revenue types
Hello @tracybro
As @FaradayKeynes mentions you can add new sales codes by creating new nominals.
https://support.quickfile.co.uk/t/adding-a-new-nominal-account/8882
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