FrontAccounting forum — Purchasing things that DO NOT count against cost of goods sold

Re: Purchasing things that DO NOT count against cost of goods sold

null@example.com (joe) — Sat, 09 Jun 2012 22:00:58 +0000

please contact a local accountant, because there might be different approaches to this.

/Joe

Re: Purchasing things that DO NOT count against cost of goods sold

null@example.com (lewisbassett) — Sat, 09 Jun 2012 16:32:44 +0000

Okay - updated question.

This purchase is for some consumables - I do not need to keep an inventory of them.

Is it acceptable for me to just enter a credit entry in the creditors control account for the cost of the stationary, then an opposite debit in the stationary GL account?

Or should I create a general "stationary" items record, with the appropriate GL accounts and use that in the supplier invoice process?

Purchasing things that DO NOT count against cost of goods sold

null@example.com (lewisbassett) — Sat, 09 Jun 2012 16:12:42 +0000

I am new to FrontAccouting, and trying am entering the last years accounting data into it and learning how it works.

I have an invoice I paid for stationary. I want to enter it into the system, making sure:

1. The expense is counted against the GL account for stationary costs (i.e., not against cost of goods sold)
2. A purchase is created on 17th Jan 2011 against a creditor account for the supplier
3. The invoice is paid my me on 8th Feb 2011.

How do I do that?