Where to enter cost of stock against sales

Just started on Quickfile and am struggling to find where to enter cost of stock to complete a p/l report.

The normal “periodic inventory” approach in QuickFile is to treat stock purchases as “General Purchases” which go in the P&L, and journal the opening stock at the start of a year and closing stock at the end to get an accurate cost of sales for the whole year.

If you’re doing a continuous inventory, treating stock purchases as an asset (“Stock”) rather than an expense, then every time you make a sale you’d have to journal the cost price of the items from Stock to some nominal in the 5000 range (maybe create a new one for “cost of goods sold”). QuickFile doesn’t have inventory management built in so it won’t do this for you automatically.

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