I am staring a business in Amazon & eBay. And have no prior accounting knowledge, (add to that, some limitations.)
I, manually, record sales into ‘Manager’ [please see image] – could not figure out any other way to deduct sales from inventory.
I appreciate any help.
When you do a Sales Invoice or a Cash Sale (Receive Money) two things occur - the income in the foreground (which you can see on the screen) and the adjustment to inventory/cost of sales in the background. In fact, the exact same entries in your journals will occur, but done automatically.
The other limitation with Journals is that you can’t use the Cash Accounts tab.
Can I suggest that you read this guide. Then set up a test business (or use existing), create some cash accounts and test inventory and then create a Cash Sale (Receive Money) using an actual sale. Then come back with any specific issues.
For a range of other Guides - go here
Thank you for your advice. I will.
Kindly; link to “suggest that you read this guide…”, is missing.
Click on the blue heading - Cash Sales ( sell …
You will have difficulty understanding and using Manager, a double-entry accounting program, until you understand something about double-entry accounting itself. Manager is only a tool, and this forum is for help about using the tool, not general accounting knowledge. I recommend spending some time at this web site: http://www.accountingcoach.com. It provides excellent tutorials and is free.
Thank you very much for your kind concern. I will do that. I am grateful.