Hi, I buy clothes and they come in different sizes. When I put it into inventory it tells me to merge the same items. What is the custom fields in the inventory for , if I can’t have one item with different sizes or color? Do I have to list each size separate?
Question 2, when does it show up in inventory-cost in Expenses??
Thank you in advance
Manager, only tells you to merge when it detects the duplication of an existing Inventory Item.
Yes, you would list each size separately, this would enable better tracking of the actual stock on hand.
When you sell a dress, Manager will automatically transfer the cost of that dress from Inventory On Hand to Inventory - Cost
Thank You, I am a retail store so I work with Daily Cash Receipts. How would I enter the sale of the item, so I can take it off Inventory on hand and then to Inventory Cost?
You can either create a Receive Money transaction for each sale or create one end of day Receive Money including all sales for the day. The below examples could be an end of day Receive Money
Note: have created a Cash on Hand account called Daily Sales Cash to receive cash sales and a Cash on Hand account called Daily Sales Credit Card to receive credit card sales. This will provide easier management.
Would I then transfer money to the Checking Account when the funds get deposited in the bank? Both on the Daily Sales Cash and Daily Sales Credit Cards?
Yes, you would use Bank Transfer between the Daily Sales Cash/Credit Card accounts and the Checking Account whenever a deposit is made. By keeping the credit card sales separate, the balance always represents any funds still to be received.
